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    Property profile & analytics

    801 Texas Ave Artesia, NM 88210

    • Commercial real estate
    For Lease
    View listing
    $11 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US61-0379771
    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 801 Texas Ave

    Property type
    Commercial real estate

    Description

    This exceptional property, listed on the National Register of Historic Places, offers a unique blend of historical charm and modern functionality. The Sallie Chisum House, located at 801 W Texas Avenue, boasts a total area of 1,886 square feet, situated on a 4,418.4 square foot lot (APN: 4152098198516). The single-tenant building is perfectly suited for a professional office seeking a distinctive setting near Main Street. The thoughtfully remodeled 2008 space features a spacious open-concept common area ideal for reception or office use. Downstairs includes a private office, a restroom, and a kitchen area. Upstairs provides two additional private offices and another restroom. This property presents a rare opportunity to occupy a historically significant and beautifully updated commercial space. The property is designated as Commercial Land and Office, and is a single-tenant occupancy. The building itself has no suites. This is a truly unique opportunity to own a piece of history while enjoying the benefits of a modern, functional workspace. The property's prime location ensures high visibility and accessibility.

    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
    Artesia
    County
    Eddy
    State
    New Mexico
    Longitude
    -104.4062646
    Latitude
    32.8430402

    Comparable in this City

    • $12 SF/Yr
      3,500 SF

      Artesia Office Building For Rent

      Downtown Artesia Office Space - 3,500 sq ft
      327 Main St St, Artesia, NM 88210
      View Details
    • $3,000 /Mo
      3,912 SF

      Industrial/Commercial/Auto Repair Shop For Rent

      Industrial/commercial/auto repair shop with office and fenced lot for rent.
      2101 N Roselawn Ave, Artesia, NM 88210
      View Details
    • $1,150 /Mo
      1,500 SF

      Artesia, NM Commercial Building

      Commercial building for rent in a visible location.
      813 S 1St St, Artesia, NM 88210
      View Details

    Similar Nearby for Sale

    • $365,000

      Artesia Commercial Property: Prime Location

      14,000 sq ft lot, dual office spaces
      702 Main St, Artesia, NM 88210
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    • $429,999

      Luxury Beachfront High-Rise Condominiums

      Luxury beachfront high-rise with ocean views and extensive amenities.
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    • $201,000
      19.18 Acres

      Artesia, NM Land - 19 Acres

      Prime Eddy County acreage, ideal for development.
      R17 Cactus Ln, Artesia, NM 88210
      View Details
    • $525,000
      2.11 Acres

      Artesia Commercial Property - $525K

      Prime Artesia commercial land, two buildings, ample parking.
      1302 Hermosa Dr St, Artesia, NM 88210
      View Details
    • Contact for pricing
      0.83 Acres

      Artesia Commercial Land Investment

      Walmart-shadowed land, prime location.
      416 26Th St, Artesia, NM 88210
      View Details
    • $154,000
      39.52 Acres

      Land Parcel in Artesia, NM

      39-acre land parcel with utilities near Highway 82.
      249 N Sundown Trl, Artesia, NM 88210
      View Details

    Similar Nearby for Lease

    • $12 SF/Yr
      3,500 SF

      Artesia Office Building For Rent

      Downtown Artesia Office Space - 3,500 sq ft
      327 Main St St, Artesia, NM 88210
      View Details
    • $1,150 /Mo
      1,500 SF

      Artesia, NM Commercial Building

      Commercial building for rent in a visible location.
      813 S 1St St, Artesia, NM 88210
      View Details
    • $3,000 /Mo
      3,912 SF

      Industrial/Commercial/Auto Repair Shop For Rent

      Industrial/commercial/auto repair shop with office and fenced lot for rent.
      2101 N Roselawn Ave, Artesia, NM 88210
      View Details
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    801 Texas Ave
    Artesia, NM 88210
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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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