Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    428 2nd St Raton, NM 87740-3701

    • Commercial real estate
    • 2,628 SF
    • 0.19 lot acres
    OFF-MARKET
    Value Estimations
    $365,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US61-0520356
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Commercial real estate

    Property Details for 428 2nd St

    Year built
    1989
    Lot size
    0.19 lot acres
    Property size
    2,628 SF
    Property type
    Commercial real estate
    APN
    1-135-186-298-237
    APU
    1135186298237

    Description

    This exceptional 2,628 square foot commercial property, situated on a 0.38-acre lot at 428 N 2nd Street in the heart of Raton, New Mexico, presents a compelling investment opportunity. The building boasts prominent main street frontage, making it highly visible to potential customers. Inside, you'll find a well-maintained office and reception area featuring ample natural light from attractive windows, a single bathroom, and excellent lighting. The shop area is a significant highlight, featuring dual overhead doors, providing convenient access for larger equipment or vehicles. This space is heated and benefits from an updated electrical panel with three-phase capability, catering to a variety of commercial uses. Constructed of durable cinderblock with propanel and rolled roofing, the building is built to last. The property's versatility makes it ideal for a range of businesses, including auto repair, welding, woodworking, or any operation requiring large overhead doors. Its location in beautiful downtown Raton adds to its appeal. Furthermore, this property is located within an Opportunity Zone, offering potential tax advantages for qualified investors. This is a rare opportunity to acquire a well-maintained, versatile commercial space in a desirable location. Don't miss out!

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $370,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $365,000
      Market price range: $132k - $527k

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Raton
    County
    Colfax
    State
    New Mexico
    Longitude
    -104.439
    Latitude
    36.9061

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $755
    $5,575
    $23,012
    $28,587
    -
    $16,725
    $69,037
    $85,762

    Comparable in this City

    • Value Estimation
      $300,000
      10,058.38 Acres

      2399 Chico Rd

      COMMERCIAL (GENERAL) • 10,058.38 Acres
      2399 Chico Rd, Raton, NM 87740
      View Details
    • Value Estimation
      $285,000
      317.98 Acres

      573 Hwy 72

      COMMERCIAL (GENERAL) • 317.98 Acres
      573 Hwy 72, Raton, NM 87740-2817
      View Details
    • Value Estimation
      $285,000
      502.72 Acres

      Raton, NM 87740

      COMMERCIAL (GENERAL) • 502.72 Acres
      Raton, NM 87740
      View Details
    • Value Estimation
      $290,000
      40.00 Acres

      Raton, NM 87740

      COMMERCIAL (GENERAL) • 40.00 Acres
      Raton, NM 87740
      View Details
    • Value Estimation
      $290,000
      720.00 Acres

      193 Hwy Hwy

      COMMERCIAL (GENERAL) • 720.00 Acres
      193 Hwy Hwy, Raton, NM 87740
      View Details
    • Value Estimation
      $285,000
      200.00 Acres

      Raton, NM 87740

      COMMERCIAL (GENERAL) • 200.00 Acres
      Raton, NM 87740
      View Details

    Similar Nearby for Sale

    • $1,100,000
      15.00 Acres

      15-Acre Commercial Land, Colfax, NM

      Prime Colfax location, 15 acres, endless potential.
      35 Moreno Vly, Colfax, NM 87740
      View Details
    • $99,500
      3.65 Acres

      Raton, NM Commercial Land Opportunity

      3.65 Acres, Prime Commercial Land
      0 State St, Raton, NM 87740
      View Details
    • $700,000
      70.00 Acres

      70 Acres Commercial Land, Raton, NM

      Prime Raton location, I-25 visibility, high income potential.
      0 Tbd Whittier St, Raton, NM 87740
      View Details
    • $400,000
      400.00 Acres

      400 Acres Commercial Land, Raton, NM

      Vast Commercial Land - Prime Location
      0 Tbd Maxwell, Raton, NM 87740
      View Details
    • $40,000

      Prime Raton Commercial Land

      Level lot, ideal for development. Excellent location.
      0 Tiger Cir, Raton, NM 87740
      View Details
    • $40,000

      Raton Commercial Land - 4 Lots

      Prime Raton location, near I-25 & Main.
      0 Whittier St, Raton, NM 87740
      View Details

    Similar Nearby for Lease

    • $13 SF/Yr
      1,300 SF

      Freestanding Restaurant with Supercharger Potential

      Freestanding restaurant with full kitchen and supercharger station potential.
      1247 S 2Nd St, Raton, NM 87740
      View Details
    • $10 SF/Yr
      77,550 SF

      Raton Retail Center Spaces Available

      Prime Raton location, multiple spaces, high visibility.
      1239 2Nd St, Raton, NM 87740
      View Details
    • $8 SF/Yr
      8,125 SF

      Former Dollar General Retail Space

      Versatile retail space with high visibility and ample parking.
      1100 S 2Nd St, Raton, NM 87740
      View Details
    • $10 SF/Yr
      950 SF

      Freestanding Restaurant Space Available

      Restaurant space with full kitchen and dedicated pylon signage.
      1249-1287 S 2Nd St, Raton, NM 87740
      View Details
    • Contact for pricing
      3,200 SF

      Freestanding Restaurant Space Available

      Restaurant space with full kitchen and dedicated pylon signage.
      1239-1265 S 2Nd St, Raton, NM 87740
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    428 2nd St
    Raton, NM 87740-3701
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.