Heart of Madrid! This lot offers a rare opportunity to build right in the center of downtown Madrid. Traditional Community zoning allows for residential construction and a wide range of light commercial uses, including as a gallery or inn. Plus, as an added bonus, the property is located just outside the Madrid historical overlay district, giving greater architectural freedom in your construction plans. Property is located just steps off of NM 14 and slopes gently upward, providing a generous buildable area, with mountain views from the back of the property, along Harvey Rd. If you are looking to construct a home or build a business catering to the ample foot traffic in downtown Madrid, this property will serve you well!