Standalone Office
For Sale
Contact for pricing
1007 El Paseo Rd, Las Cruces, NM 88001
Open-shell commercial space at a signalized corner intersection supports retail or professional office use.
Property Size3,120 SF
Lot Size0.37 Acres
Price / SF$121.79
Days on Market239
Property Features for 1007 El Paseo Rd
General Information
Standard status
Active
Size
3,120 SF
Lot size
0.37 Acres
Property subtype
Office, Retail
Site & Location
Corner Location
Yes
Road Access
Yes
Building Details
Buildings
1
Listing Agency:
NAI 1st Valley
Listed By:
Jessie Carreon · License #NM 53098
(575) 521-1535
Source:
Crexi
Added: Feb 18
Changed: Oct 5
Last Checked: Oct 14 at 10:37PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of NAI 1st Valley
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Investment Insights
Based on property information with market context.
This standalone office building contains approximately 3,120 SF on an approximately 0.37-acre corner lot. Its open-shell condition provides a flexible starting point for retail or professional office occupancy, with the interior configuration available for user-specific buildout.
The property is located at 1007 El Paseo Rd in Las Cruces, New Mexico, at the signalized intersection of El Paseo Road and Wyatt Drive. The site has prominent frontage along a major city corridor and benefits from high traffic counts and strong visibility.
The property is located at 1007 El Paseo Rd in Las Cruces, New Mexico, at the signalized intersection of El Paseo Road and Wyatt Drive. The site has prominent frontage along a major city corridor and benefits from high traffic counts and strong visibility.
Key Highlights
- ±3,120 SF standalone building
- ±0.37‑acre corner lot
- Open‑shell condition suited to retail or professional office use
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,610
Cap Rate
7.27%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$552,200
$552.2K
Cap Rate 7%
$394,429
$394.4K
Cap Rate 9%
$306,778
$306.8K
Market Conditions
NOI Build-Up for 3,120 SF
Gross rent
$43.1K $13.80/SF
− Vacancy
−$6.2K −$2.00/SF
EGI
$36.8K $11.80/SF
− OpEx
−$9.2K −$2.95/SF
NOI
$27.6K $8.85/SF
Area
Las Cruces, NM
Vacancy
14.50%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$552,200
Cap Rate 7%
$394,429
Cap Rate 9%
$306,778
Alternative Uses
Best Use
Office B
$394.4K
$345.1K – $460.2K
NOI $27,610 @ 7.0% cap · market cap 7.27%
Second Best
Retail
$361.7K
$316.5K – $422.0K
NOI $25,317 @ 7.0% cap · market cap 6.66%
Theoretical Best
Office A
$546.0K
$477.7K – $637.0K
NOI $38,219 @ 7.0% cap · market cap 10.06%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,830
Businesses Nearby
Explore this area
Business Placement
Demographics for 88001, NM
36,831
Population
16,985
Households
2.2
Avg Household Size
30
Median Age
29%
College-Educated
83%
High-School Grad
11.1 sq mi
ZIP Area
3,318
Density / Sq Mi
$32,978
Median Household Income
$23,195
Median Earnings
$797
Median Rent
$158,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Office building - Open-shell commercial space at a signalized corner intersection supports retail or professional office use.
Where is this office building located?
The property is located at 1007 El Paseo Rd Las Cruces, NM.
What is the asking price?
The asking price for this property is $380,000.
What are key features of this property?
This property features: ±3,120 SF standalone building; ±0.37‑acre corner lot; Open‑shell condition suited to retail or professional office use
