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    14422 Highway 187 Caballo, NM 87931

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    For Sale
    $485,000

    COMMERCIAL - Caballo, NM

    Lot size:
    2.50 Acres
    Added:
    Dec 12, 2025
    Days on Market:
    147
    Last Refresh:
    May 8 at 1:06 am

    Property Features for 14422 Highway 187

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Parking features
    Parking Lot
    Standard status
    Active
    APN
    3025092501083
    Lot size
    2.50 Acres

    Taxes and HOA fees

    Tax Description
    Section:12 Township:16S Range:5W2.25 ACRES IN W2NW4NW4 LOC-SEC 12 TWP 16S RGE 5W .75 ACIN SW4NW4NW4

    Utilities

    Utilities
    Electricity Available
    Heating system
    Forced Air
    Cooling system
    Central Air

    Building Details

    Flooring type
    Vinyl, Concrete
    Building materials
    Stucco, Wood Siding

    We can help!

    Listing Contact
    Summer Woods

    Listing agent Summer Woods License #44554

    Listing office Cripple Creek Realty, LLC 500 N Church St Ste 618, Las Cruces, NM

    Listing date Dec 12, 2025

    MLS# 2600158

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

    HighLights

    • Established RV park with 14 full hookup spots (electric, water, septic) and 4 dry dock storage spaces.
    • Includes a store equipped with walk‑in coolers, bathroom, refrigerated air, heating, and potential for conversion.
    • Features a mobile home with upgraded yards, offering live‑in or rental potential.
    • Located in Sierra County, minutes from Caballo Lake and close to other recreational areas (Elephant Butte Lake, Percha camping grounds).
    • Property includes carports, shaded areas with drip system, and views.
    • Over 2 acres of land with income potential from RV park, store, and mobile home.

    Overview

    RV Park and Store Opportunity

    This property in Sierra County features an RV park and store, located minutes from Caballo Lake. The RV park includes 14 spots with full electric and water hookups, along with septic connections, plus 4 dry dock storage spaces. Two carports are present, along with a mobile home that can be lived in or rented out, featuring upgraded front and back yards. The store offers snacks, drinks, lake essentials, fresh bait, and lures, plus two walk-in coolers, a bathroom, refrigerated air, central heating, and cooking facilities in both the store and the home. The property, shaded by numerous trees with a drip system, sits on over 2 acres and offers views. The store could be converted into a clubhouse. The property is located minutes from Truth or Consequences, about 30 minutes from Elephant Butte Lake, close to Caballo Lake and Percha camping grounds, and approximately 45 minutes from Las Cruces.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Mobile home & RV ...

    Map

    City
    Caballo
    County
    Sierra
    State
    New Mexico
    Longitude
    -107.461
    Latitude
    33.0587

    FAQs

    What type of property is this?
    Mobile home & RV park - RV park and store near Caballo Lake with income potential.
    Where is this mobile home & rv park located?
    The property is located at 14422 Highway 187 Caballo, NM.
    What is the asking price?
    The asking price for this property is $485,000.
    What are key features of this property?
    This property features: Established RV park with 14 full hookup spots (electric, water, septic) and 4 dry dock storage spaces.; Includes a store equipped with walk‑in coolers, bathroom, refrigerated air, heating, and potential for conversion.; Features a mobile home with upgraded yards, offering live‑in or rental potential.
    (575) 650-0930
    We can help!
    Listing Contact
    Summer Woods
    Real Estate License ID: 44554
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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