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    Property profile & analytics

    620 E 21St St Clovis, NM 88101

    • Commercial real estate
    For Sale
    View listing
    $470,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US61-0437370
    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 620 E 21St St

    Property type
    Commercial real estate

    Description

    This exceptional 37,695 square foot lot presents a remarkable opportunity for commercial development in a prime Clovis, New Mexico location. Situated on East 21st Street, this property enjoys high visibility and traffic counts, placing your future business in the heart of a bustling commercial area. Just one block west of the intersection with Prince Street, this lot is conveniently located near established businesses, including a Walgreens, ensuring high foot traffic and excellent brand visibility. The lot has already been cleared, presenting a clean slate for construction. This makes it ideal for a new retail store, restaurant, or a variety of other commercial ventures. The property's size and location offer significant potential for a substantial return on investment. The address is 620 E 21st Street, Clovis, NM 88101, within Curry County. This is a rare opportunity to acquire a well-positioned lot in a thriving commercial corridor. The asking price for this exceptional property is $590,000. Don't miss this chance to secure a prime location for your next business venture.

    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
    Clovis
    County
    Curry
    State
    New Mexico
    Longitude
    -103.1982084
    Latitude
    34.4197635

    Comparable in this City

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      Clovis Development Site For Sale

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      Residential Land in Clovis, NM

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    • $112,000
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      9 Acres Commercial Land, Clovis

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    Similar Nearby for Sale

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    • $35,000

      Clovis Commercial Land - $35k

      7,000 SF Commercial Lot, Great Potential
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    • $1,406,000

      Clovis Development Site For Sale

      6.46 acre development site in Clovis, New Mexico.
      3301 Lew Wallace Dr, Clovis, NM 88101
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    • $1,406,000
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      Clovis Development Site For Sale

      6.46 acre development site in Clovis retail corridor.
      3301 Wallace St, Clovis, NM 88101
      View Details
    • $38,000
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      Residential Land in Clovis, NM

      Land for sale in a new subdivision in Northeast Clovis.
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    • $112,000
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      9 Acres Commercial Land, Clovis

      9 acres of commercial land near Cannon AFB, Clovis, NM.
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      View Details

    Similar Nearby for Lease

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      Clovis Commercial Land Opportunity

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      2,419 SF

      Clovis, NM Drive-Thru Retail Space

      Turn-key retail space, ideal for QSR. High traffic location.
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    • Contact for pricing
      2,295 SF

      Retail Space in Walmart Shadow

      Retail space available in Walmart shadow center.
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    620 E 21St St
    Clovis, NM 88101
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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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