Magdalena's compact downtown is a national historic district with a dozen turn-of-the-century buildings still standing in recognisable form. The Bank of Magdalena (1908) at 1st and Main, the Hall Hotel (1916) at 2nd and Spruce, and the Ilfeld Warehouse facing the rail line are the headliners; smaller adobe houses on the side streets fill in the picture.
The whole district can be walked in 30 minutes. The handful of galleries and antique shops that have moved in keep irregular hours — early afternoon is your best bet.