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    779 NM 181 Elephant Butte, NM 87935

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    For Lease
    $2,500/Mo $5 SF/Yr (calc)

    COMMERCIAL - Elephant Butte, NM

    Property size:
    5,906 SF
    Lot size:
    1.00 Acre
    Added:
    Jun 14, 2025
    Days on Market:
    329
    Last Refresh:
    May 8 at 6:06 am

    Property Features for 779 NM 181

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Parking
    20
    Fencing
    Fenced
    Standard status
    Active
    APN
    3021075254404
    Size
    5,906 SF
    Lot size
    1.00 Acre

    Taxes and HOA fees

    Tax Annual Amount
    1677

    Utilities

    Sewer type
    Septic Tank
    Heating system
    Propane (Heating)
    Water source
    Well

    Building Details

    Floors in Building
    1
    Building materials
    MetalFrame

    We can help!

    Listing Contact
    Selling The Sandias

    Listing agent Selling The Sandias

    Listing office EXP Realty LLC 100 Sun Avenue #650, Albuquerque, NM

    Listing date Jun 14, 2025

    MLS# 1095467

    Copyright © 2026 Southwest MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Large +/-5,906 SF property with 4 buildings suitable for various uses.
    • One acre fenced lot with well and septic system.
    • Versatile shop space ideal for automotive, woodworking, or construction trades.
    • Office space featuring porcelain tile, full kitchen, ADA bathroom, private offices, and conference room.
    • Two sheds: 1,225 SF (wired for electric) and 500 SF.
    • Low utility costs: Sierra Electric (approx. $200/month) and annual propane ($1,600).

    Overview

    Elephant Butte Commercial Property Rental

    This commercial property in Elephant Butte, NM, features approximately 5,906 square feet across four buildings, situated on a one-acre fenced lot. The office space includes porcelain tile flooring throughout, a full kitchen, an ADA-compliant bathroom with plumbing for a shower, two private offices, and a conference room. It also has washer and dryer hookups and canister lighting. The shop area offers an 8-foot clear height on both sides and a 9'9'' clear height in the center, making it suitable for automotive, woodworking, hobbies, or construction trades. The property includes a well that is 167 feet deep and a septic system installed to code in 2017 but not permitted. There are two sheds: one is 1,225 square feet with an 11-foot center height and electrical wiring, and the other is 500 square feet divided into two sections. Power is provided by Sierra Electric at approximately $200 per month. A 500-gallon propane tank, when full, lasts all year at a cost of $1,600.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Flex space

    Map

    City
    Elephant Butte
    County
    Sierra
    State
    New Mexico
    Longitude
    -107.239419
    Latitude
    33.175412

    FAQs

    What type of property is this?
    Flex space - Versatile commercial property in Elephant Butte, NM, suitable for various uses.
    Where is this flex space located?
    The property is located at 779 NM 181 Elephant Butte, NM.
    What is the lease rate?
    The lease rate is $2,500 /Mo.
    What are key features of this property?
    This property features: Large +/-5,906 SF property with 4 buildings suitable for various uses.; One acre fenced lot with well and septic system.; Versatile shop space ideal for automotive, woodworking, or construction trades.
    (505) 475-6605
    We can help!
    Listing Contact
    Selling The Sandias
    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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