# 503 Terrace Avenue, Chama, NM 87520

> **TL;DR:** commercial, $519,500 ($117/sqft), built 1938, 4,430 sqft. Est. $2,251/mo. Listed 285 days.

## Property at a Glance

| Attribute | Value |
|-----------|-------|
| Price | $519,500 |
| Price/sqft | $117 |
| Square Feet | 4,430 |
| Year Built | 1938 |
| Lot Size | 6,098 sqft (0.14 acres) |
| Property Type | Commercial (Retail) |
| Status | For Sale |
| Days on Market | 285 |

## Estimated Monthly Costs

| Category | Amount |
|----------|--------|
| Mortgage (20% down, 6.5%) | $2,251 |
| **Total** | **$2,251** |

## Property Highlights

- Built in 1938
- 0.14 acre lot

## Description

### Agent 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.

## Location

- **Address:** 503 Terrace Avenue, Chama, NM 87520
- **County:** Rio Arriba
- **Coordinates:** 36.9026, -106.5796
- **Google Maps:** https://www.google.com/maps?q=36.9026,-106.5796

## Listing Agent

- **Name:** Christopher Dennison
- **Brokerage:** United Country N New Mexico RE
- **Phone:** 3039560468
- **Email:** cdennison1965@gmail.com

## Primary Photo

![503 Terrace Avenue - Primary Photo](http://lh.rdcpix.com/31d5cf6de72d3cc2ac2f4a3dda898d31l-f2473928064r.jpg)

*29 total photos available on [listing page](https://www.propertysimple.com/listing/503-terrace-avenue-chama-nm-87520-02503846)*

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**MLS#:** 202503846 | **Updated:** 2026-06-19
**Source:** listhub

*Copyright © 2026 Santa Fe Association of REALTORS®, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.*

[View on PropertySimple](https://www.propertysimple.com/listing/503-terrace-avenue-chama-nm-87520-02503846)

---

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