2849 NM 14, Madrid, NM 87010
Santa Fe County
Key Facts
Description
Commercially zoned property in the heart of the quintessential historic town of Madrid, perfectly located on vibrant Main Street in a highly desirable location to capture business from tourists and locals alike. Madrid is a fun and colorful community just outside of Santa Fe and is the most popular visitor stop along the National Scenic Byway, the Turquoise Trail, making it an ideal day trip linking Santa Fe and Albuquerque. The Trail attracts visitors from all over the world who come to experience the rich culture and history of this picturesque Western town. The property features a fully equipped commercial kitchen and is being sold fully furnished and equipped to operate a successful restaurant. It also boasts a state-of-the-art fire alarm system. Currently leased to The Refinery, offering a solid investment opportunity with a high cap rate and return. At one time, the property operated as two businesses, a retail space in the Santa Fe Railroad railcar situated on site; the railcar is now configured as additional indoor dining. The property offers both indoor and outdoor dining experiences, with the outdoor space overlooking the Madrid Museum and long serving as a dynamic setting for dining and live music. Designated parking is conveniently located along State Highway 14 directly in front of the restaurant.
Property Information
Property Type
Commercial Sale
Sub-Type
Business
Year Built
1989
Living Area
2,279 sq ft
Lot Size
0.17 acres
Zoning
Other
Days on Market
14
MLS® Listing#
202600307
Property Features
Utilities
Financial Details
Parcel Number
76003976
Directions
Highway 14 South to historic Madrid Village main street
Affordability Calculator
$175,000
Estimated monthly payment
$4,657/mo
Principal $700,000 · Est. interest $976,562 over 30 yrs
Neighborhood Market Statistics
How this home compares to active listings in Madrid, NM
- $650,000
- Median Listing Price
- 118
- Median Days on Market
- 1,362
- Median Sq Ft
- $409
- Median Price / Sq Ft
- 7
- Active Listings
- This home’s price is 35% above the area median.
- Its price per sq ft is 6% below the area median.
Market statistics compiled from active EXIT Realty® and MLS listings in Madrid, NM.
Location
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Points of Interest in Madrid, NM
Showing the Madrid area map.
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Nearby Homes
Similar Homes Nearby
Similar Home Values
Comparable nearby listings and their asking prices.
| Address | Price | Beds | Baths | Sq Ft |
|---|---|---|---|---|
| 0 Grateful, Madrid, NM | $650,000 | — | 1 | 314 |
| 115 Waldo Mesa, Madrid, NM | $795,000 | 3 | 3 | 4,474 |
| 2863 NM 14 Highway, Madrid, NM | $875,000 | — | — | 1,362 |
| 2863 NM 14 Highway, Madrid, NM | $875,000 | 1 | 2 | 1,362 |
Moving Cost Estimate
EXIT Agents in Madrid
Listing Courtesy: Keller Williams Realty - 5059835151