Horse Equestrian Estate with
For Sale
$789,000
565 Carver Road, Las Cruces, NM 88005
COMMERCIAL - Las Cruces, NM
Property Size2,803 SF
Lot Size2.14 Acres
Price / SF$281.48
Days on Market128
Property Features for 565 Carver Road
General Information
Property type
Commercial Sale
Property subtype
Other
Subdivision
South Subd
Directions
From S. Main, turn right on Carver, the property will be on the left.
Standard status
Active
APN
4-008-138-145-513
Lot size
2.14 Acres
Taxes and HOA fees
Tax Description
S: 32 T: 23S R: 2E BRM 13 TR 12F1D
Legal Description
S: 32 T: 23S R: 2E BRM 13 TR 12F1D
Utilities
Utilities
Natural Gas Available
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Flooring type
Tile - Ceramic, Carpet, Wood
Building materials
Stucco
Listing Agency:
RE/MAX Classic Realty · RE/MAX International
(575) 524-8788
Listed By:
Samuel L Rowan · License #52060
(575) 636-5641
Added: Apr 4
Changed: Aug 4
Last Checked: Aug 9 at 11:06AM
MLS# 2601085
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.
Investment Insights
Based on property information with market context.
Set on 2.14 acres, this solar-powered horse and equestrian estate combines residential, commercial, and agricultural improvements in one setting. The primary dwelling includes approximately 2,803 square feet of living space and about 543 square feet of office space. The property also features forced air heating and central air conditioning, with stucco construction and interior finishes including carpet, wood, and ceramic tile.
Beyond the home, there is a large swim spa with a custom-built sunning deck finished with synthetic wood for lower maintenance. The oversized garage/shop offers three vehicle bays, an additional storage room of approximately 138 square feet, and about 325 square feet of heated and cooled workshop space. The south side includes horse corrals with three horse stalls, a tack barn, and a locking storage room.
Utilities include natural gas availability and public water service. The property is located at 565 Carver Road in Las Cruces, New Mexico.
Beyond the home, there is a large swim spa with a custom-built sunning deck finished with synthetic wood for lower maintenance. The oversized garage/shop offers three vehicle bays, an additional storage room of approximately 138 square feet, and about 325 square feet of heated and cooled workshop space. The south side includes horse corrals with three horse stalls, a tack barn, and a locking storage room.
Utilities include natural gas availability and public water service. The property is located at 565 Carver Road in Las Cruces, New Mexico.
Key Highlights
- 2.14‑acre solar‑powered horse and equestrian estate with residential, office, shop, and corrals
- Approximately 2,803 SF primary residence plus about 543 SF office space
- Oversized garage/shop with 3 vehicle bays, approx 138 SF storage room, and about 325 SF heated & cooled workshop
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$24,870
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.15%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$497,400
$497.4K
Cap Rate 7%
$355,286
$355.3K
Cap Rate 9%
$276,333
$276.3K
Market Conditions
NOI Build-Up for 2,803 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$43.7K $15.60/SF
− Vacancy
−$3.9K −$1.40/SF
EGI
$39.8K $14.20/SF
− OpEx
−$14.9K −$5.32/SF
NOI
$24.9K $8.87/SF
Area
Las Cruces, NM
Vacancy
9.00%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$497,400
Cap Rate 7%
$355,286
Cap Rate 9%
$276,333
Alternative Uses
Best Use
Mixed Use
$355.3K
$310.9K – $414.5K
NOI $24,870 @ 7.0% cap · market cap 3.15%
Second Best
Office B
$354.3K
$310.1K – $413.4K
NOI $24,804 @ 7.0% cap · market cap 3.14%
Theoretical Best
Office A
$490.5K
$429.2K – $572.3K
NOI $34,336 @ 7.0% cap · market cap 4.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Heavy power
Location Intelligence
Trade Area within ½ mile
52
Businesses Nearby
Explore this area
Business Placement
Demographics for 88005, NM
26,997
Population
12,039
Households
2.2
Avg Household Size
41
Median Age
31%
College-Educated
85%
High-School Grad
150.9 sq mi
ZIP Area
179
Density / Sq Mi
$51,770
Median Household Income
$28,908
Median Earnings
$899
Median Rent
$207,100
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Lush 2.14-acre estate with solar power, home, office, shop, and horse corrals.
Where is this mixed-use property located?
The property is located at 565 Carver Road Las Cruces, NM.
What is the asking price?
The asking price for this property is $789,000.
What are key features of this property?
This property features: 2.14‑acre solar‑powered horse and equestrian estate with residential, office, shop, and corrals; Approximately 2,803 SF primary residence plus about 543 SF office space; Oversized garage/shop with 3 vehicle bays, approx 138 SF storage room, and about 325 SF heated & cooled workshop
