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

    820 Aztec Ave Gallup, NM 87301

    • Commercial real estate
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US61-1039191
    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 820 Aztec Ave

    Property type
    Commercial real estate

    Description

    This exceptional 10,650 square foot lot is situated at 820 E Aztec Avenue in Gallup, New Mexico, zip code 87301. Priced competitively at $65,000, this property presents a compelling investment opportunity. The land is conveniently located close to the downtown area of Gallup, offering easy access to local amenities and businesses. A significant advantage is the availability of utilities, with sewer lines already present in the street, simplifying the development process. This makes the property ideal for a variety of potential uses, from residential construction to commercial development. The lot's size provides ample space for a substantial project, allowing for flexibility in design and construction plans. Given its prime location and readily available utilities, this property is poised for significant appreciation. Don't miss this chance to acquire a valuable piece of land in a growing community. The property is classified as vacant land and is ready for immediate development. McKinley County location offers additional benefits.

    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
    Gallup
    County
    McKinley
    State
    New Mexico
    Longitude
    -108.7299645
    Latitude
    35.5290874

    Comparable in this City

    • $600,000
      7.36 Acres

      Prime Gallup Commercial Land

      7.36 Acres, Heavy Commercial Zoning
      0 Patton Ave And Aztec Ave, Gallup, NM 87301
      View Details
    • $80,000
      3.72 Acres

      Gallup Land: 3.72 Acres

      Build Your Dream Home in Gallup, NM
      0 Tbd Plateau Dr, Gallup, NM 87301
      View Details
    • $49,500
      0.25 Acres

      Gallup, NM Vacant Lot

      Vacant lot overlooking Veteran's Park in Gallup, NM.
      E Morgan Ave, Gallup, NM 87301
      View Details
    • $200,000

      Residential Land in Prime Location

      3.04 acres of land zoned for multi-family residential.
      750 Patton Dr, Gallup, NM 87301
      View Details
    • New
      Contact for pricing
      0.16 Acres

      Residential Lot Near Parks

      0.15-acre lot near parks and school in Gallup, NM.
      S Fifth St, Gallup, NM 87301
      View Details
    • $550,000
      38.00 Acres

      Prime Gallup Commercial Land

      38 Acres, $550,000 - Excellent Investment
      000 Chee Dodge Blvd, Gallup, NM 87301
      View Details

    Similar Nearby for Sale

    • $600,000
      7.36 Acres

      Prime Gallup Commercial Land

      7.36 Acres, Heavy Commercial Zoning
      0 Patton Ave And Aztec Ave, Gallup, NM 87301
      View Details
    • $80,000
      3.72 Acres

      Gallup Land: 3.72 Acres

      Build Your Dream Home in Gallup, NM
      0 Tbd Plateau Dr, Gallup, NM 87301
      View Details
    • $49,500
      0.25 Acres

      Gallup, NM Vacant Lot

      Vacant lot overlooking Veteran's Park in Gallup, NM.
      E Morgan Ave, Gallup, NM 87301
      View Details
    • $200,000

      Residential Land in Prime Location

      3.04 acres of land zoned for multi-family residential.
      750 Patton Dr, Gallup, NM 87301
      View Details
    • New
      Contact for pricing
      0.16 Acres

      Residential Lot Near Parks

      0.15-acre lot near parks and school in Gallup, NM.
      S Fifth St, Gallup, NM 87301
      View Details
    • $229,750
      35.00 Acres

      35-Acre Gallup Land Parcel

      Prime NM Land: Build Your Dream!
      0 Tbd Lynx Rd, Gallup, NM 87301
      View Details

    Similar Nearby for Lease

    • $0.49 SF/Yr
      34,114 SF

      Gallup Warehouse: Prime Commercial Space

      Large warehouse, excellent location, ample parking.
      923 Aztec St, Gallup, NM 87301
      View Details
    • $14 SF/Yr
      110,593 SF

      Gallup Shopping Center Investment

      Albertson's-anchored retail center in Gallup, NM
      1600 Hwy 66, Gallup, NM 87301
      View Details
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    820 Aztec Ave
    Gallup, NM 87301
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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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