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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    603 Pennsylvania Ave Roswell, NM 88203

    • Commercial real estate
    • 4.00 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US61-0439297
    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 603 Pennsylvania Ave

    Year built
    1967
    Lot size
    4.00 lot acres
    Property type
    Commercial real estate

    Description

    This exceptional investment opportunity presents a well-maintained four-plex located at 603 S Pennsylvania Avenue in Roswell, New Mexico. Built in 1967, this property sits on a generous 4-acre lot and offers a compelling return on investment. Each of the four units boasts two bedrooms and one bathroom, spanning approximately 895 square feet. Recent renovations have enhanced the appeal and functionality of each unit, ensuring a high occupancy rate. Current tenants occupy all four units, providing immediate cash flow. Individual features include a fireplace and a private fenced patio, adding to the desirability of each rental space. The property's location in Roswell, NM, within Chaves County, zip code 88203, offers convenient access to local amenities and services. The asking price is $368,000. A pre-qualification letter is required before scheduling a viewing. This property represents a solid investment opportunity for discerning buyers seeking a stable and profitable multifamily asset in a desirable New Mexico location. The substantial lot size also presents potential for future development or expansion.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Roswell
    County
    Chaves
    State
    New Mexico
    Longitude
    -104.5254825
    Latitude
    33.3870923

    Comparable in this City

    • $150,000

      Roswell Multi-Family Investment Opportunity

      Three-unit property, great rental income.
      807 Albuquerque St, Roswell, NM 88203
      View Details
    • $450,000
      4,166 SF

      Roswell Landmark Business Opportunity

      Turn-key flower shop with property, inventory, and vehicles included.
      405 W Alameda St, Roswell, NM 88203
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    • $450,000

      Roswell Warehouse: Prime Location

      $450,000 Warehouse - New Roof & HVAC
      4404 Main St, Roswell, NM 88203
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    • $716,350
      5.05 Acres

      Roswell Commercial Land - 5 Acres

      Prime commercial land, ideal for development.
      2700 Main St, Roswell, NM 88203
      View Details
    • Contact for pricing

      Roswell Land: 7,000 SF Lot

      Prime Roswell vacant land, ideal for development.
      1518 Gdn Ave Ave, Roswell, NM 88203
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    • $450,000
      8,348 SF

      Roswell Commercial Building For Sale

      Prime Roswell location, 8,348 sq ft, $450,000
      4404 Main St, Roswell, NM 88203
      View Details

    Similar Nearby for Sale

    • $150,000

      Roswell Multi-Family Investment Opportunity

      Three-unit property, great rental income.
      807 Albuquerque St, Roswell, NM 88203
      View Details
    • $450,000
      4,166 SF

      Roswell Landmark Business Opportunity

      Turn-key flower shop with property, inventory, and vehicles included.
      405 W Alameda St, Roswell, NM 88203
      View Details
    • $450,000

      Roswell Warehouse: Prime Location

      $450,000 Warehouse - New Roof & HVAC
      4404 Main St, Roswell, NM 88203
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    • $716,350
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      Roswell Commercial Land - 5 Acres

      Prime commercial land, ideal for development.
      2700 Main St, Roswell, NM 88203
      View Details
    • Contact for pricing

      Roswell Land: 7,000 SF Lot

      Prime Roswell vacant land, ideal for development.
      1518 Gdn Ave Ave, Roswell, NM 88203
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    • $450,000
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      Roswell Commercial Building For Sale

      Prime Roswell location, 8,348 sq ft, $450,000
      4404 Main St, Roswell, NM 88203
      View Details

    Similar Nearby for Lease

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      191,815 SF

      Roswell Warehouse/Distribution Space Available

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      3911 S Main St, Roswell, NM 88203
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      25,812 SF

      Affordable Multifamily Asset For Rent

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    • $120 SF/Yr
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      Main Street Warehouse Lease Opportunity

      60,000 SF Warehouse, 10 Acres Available
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    • $120 SF/Yr
      60,000 SF

      Roswell Warehouse - 60,000 SF

      Large Industrial Warehouse, Roswell, NM
      4001 Mainn St, Roswell, NM 88203
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    603 Pennsylvania Ave
    Roswell, NM 88203
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    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
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