503 Terrace Avenue, Chama, NM 87520
Rio Arriba County
Key Facts
Description
The Cornerstone Shops – Historic Old Town Chama Opportunity awaits in the heart of historic Old Town Chama, NM with this versatile retail building, ideally located directly across from the world-famous Cumbres & Toltec Scenic Railroad station. Offering approximately 4,430 square feet, this property provides the perfect setting for retail, dining, or mixed-use ventures. Currently home to a fudge shop, coffee shop, and a retail space featuring outdoor gear and furniture, the building is well-suited for multiple business opportunities. A unique bonus is the upstairs 2-bedroom, 1-bath apartment, making this a fantastic live/work opportunity. Recent improvements include a new roof, new windows, electrical upgrades, fresh paint, and new stucco, giving the property both curb appeal and peace of mind. The building also offers private alley access with a gated entrance, ensuring convenience and security. This listing is priced for the building only, with inventory and equipment available for purchase separately—giving buyers flexibility to step right into a thriving business or create their own vision. With its prime location, historic charm, and versatile spaces, The Cornerstone Shops is a rare find in one of northern New Mexico’s most visited destinations.
Property Information
Property Type
Commercial Sale
Sub-Type
Retail
Year Built
1938
Living Area
4,430 sq ft
Lot Size
0.14 acres
Days on Market
54
MLS® Listing#
202503846
Property Features
Parking
Construction
Utilities
Water Source
Financial Details
Annual Taxes
$3,068
Tax year 2025
Parcel Number
R008833
Directions
Located in Old Town Chama across from the Cumbres and Toltec Railroad station.
Affordability Calculator
$103,900
Estimated monthly payment
$2,765/mo
Principal $415,600 · Est. interest $579,799 over 30 yrs
Neighborhood Market Statistics
How this home compares to active listings in Chama, NM
- $433,333
- Median Listing Price
- 94
- Median Days on Market
- 1,368
- Median Sq Ft
- $270
- Median Price / Sq Ft
- 9
- Active Listings
- This home’s price is 20% above the area median.
- Its price per sq ft is 57% below the area median.
Market statistics compiled from active EXIT Realty® and MLS listings in Chama, NM.
Location
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Points of Interest in Chama, NM
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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 |
|---|---|---|---|---|
| 34 Tall pine Road, Chama, NM | $380,000 | 2 | 2 | 1,200 |
| 160 Indian Paint Brush, Chama, NM | $429,000 | 2 | 1 | 915 |
| 381 Buckman Rd, Chama, NM | $448,000 | — | — | — |
| 401 Maple Avenue, Chama, NM | $449,000 | 3 | 2 | 1,800 |
| 41 Elk Drive, Chama, NM | $524,900 | 3 | 2 | 1,752 |
Moving Cost Estimate
EXIT Agents in Chama
Listing Courtesy: United Country N New Mexico RE - 5757562196