Under-Construction Quadplex
For Sale
$774,900
Pending
104 Alegro Lane, Santa Teresa, NM 88008
MULTI_FAMILY - Other - Santa Teresa, NM
Property Size3,850 SF
Lot Size0.10 Acres
Days on Market74
Property Features for 104 Alegro Lane
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Property condition
Under Construction
Zoning
A1
Bedrooms
10
Bathrooms
8
Full bathrooms
8
Rooms
Bathroom 6, Bedroom 8, Bathroom 1, Bedroom 6, Bedroom 3, Bedroom 10, Bedroom 5, Bathroom 2, Bedroom 9, Bathroom 4, Bedroom 7, Bathroom 8, Bathroom 5, Bedroom 2, Bedroom 1, Bathroom 7, Bedroom 4, Bathroom 3
Window features
Double Pane Windows
Interior features
Ceiling Fan(s), Pantry, Walk-In Closet(s)
Appliances
Dishwasher, Disposal, Electric Water Heater, Free-Standing Electric Oven, Microwave, Refrigerator
Subdivision
Las Brisas
Lot features
Gated Community, Standard Lot, Subdivided
Elementary school
Santat
Middle school
Santat
High school
Santat
Elementary school district
Gadsden
Middle school district
Gadsden
High school district
Gadsden
Standard status
Pending
APN
4015166488430
Size
3,850 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
LAS BRISAS SUBDIVISION PHASE 1 (2527667) Lot: 45 S: 21 T: 28S R: 3E
Tax Annual Amount
1699
HOA Fee
$400 Monthly
Legal Description
LAS BRISAS SUBDIVISION PHASE 1 (2527667) Lot: 45 S: 21 T: 28S R: 3E
Utilities
Heating system
Central, Electric (Heating)
Cooling system
Central Air
Amenities
gated community
green space parks
solar lighting
landscaped pathways
stainless steel kitchen appliances
laundry room
Building Details
Year built
2026
Floors in Building
2
Flooring type
Vinyl, Carpet
Building materials
Stucco, Frame
Roof type
Shingle
Architectural style
Other
Listing Agency:
AMAR Real Estate Group
(575) 332-4886
Listed By:
Adrienne Dominguez
(915) 412-7396
Added: May 28
Changed: Aug 3
Last Checked: Aug 9 at 1:06AM
MLS# 944785
Copyright © 2026 Greater El Paso 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.
This under-construction quadplex community plan features 61 quadruplexes designed to blend with the Santa Teresa landscape. Las Brisas is planned as a gated community with two green space parks, solar lighting, and landscaped pathways. Quadplex designs include options for two- and three-bedroom floor plans that can be mixed and matched across the four units, with each unit including two bathrooms, a laundry room, and stainless steel kitchen appliances.
For this specific offering at 104 Alegro Lane, the lot size is 0.1 acres, with a property size of 3,850 square feet. The building is set to be built in 2026 and is under construction. Construction materials include stucco and frame, with carpet and vinyl flooring, a shingle roof, central electric heating, and central air conditioning.
Interior features listed include ceiling fans, a pantry, and walk-in closets, with appliances including a dishwasher, disposal, electric water heater, free-standing electric oven, microwave, and refrigerator.
For this specific offering at 104 Alegro Lane, the lot size is 0.1 acres, with a property size of 3,850 square feet. The building is set to be built in 2026 and is under construction. Construction materials include stucco and frame, with carpet and vinyl flooring, a shingle roof, central electric heating, and central air conditioning.
Interior features listed include ceiling fans, a pantry, and walk-in closets, with appliances including a dishwasher, disposal, electric water heater, free-standing electric oven, microwave, and refrigerator.
Key Highlights
- 61 quadruplexes planned in the gated Las Brisas community
- Zoned A1
- Under construction with Year Built 2026
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
$25,977
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
3.35%
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%
$519,540
$519.5K
Cap Rate 7%
$371,100
$371.1K
Cap Rate 9%
$288,633
$288.6K
Market Conditions
NOI Build-Up for 3,850 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
$39.3K $10.20/SF
− Vacancy
−$2.2K −$0.56/SF
EGI
$37.1K $9.64/SF
− OpEx
−$11.1K −$2.89/SF
NOI
$26.0K $6.75/SF
Area
Dona Ana County, NM
Vacancy
5.50%
Lease Rate
$10.20 /SF/Yr
Expense Ratio
30.00%
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%
$519,540
Cap Rate 7%
$371,100
Cap Rate 9%
$288,633
Alternative Uses
Best Use
Multifamily LT 5
$371.1K
$324.7K – $433.0K
NOI $25,977 @ 7.0% cap · market cap 3.35%
Second Best
Apartment 5plus
$333.8K
$292.1K – $389.4K
NOI $23,366 @ 7.0% cap · market cap 3.02%
Theoretical Best
Office A
$673.7K
$589.5K – $786.0K
NOI $47,161 @ 7.0% cap · market cap 6.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2
Businesses Nearby
Explore this area
Business Placement
Demographics for 88008, NM
10,239
Population
4,364
Households
2.3
Avg Household Size
33
Median Age
39%
College-Educated
92%
High-School Grad
80.7 sq mi
ZIP Area
127
Density / Sq Mi
$69,502
Median Household Income
$36,679
Median Earnings
$1,191
Median Rent
$228,800
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Under-construction quadplexes in a gated community zoned A1 with central heating and central air cooling.
Where is this quadplex located?
The property is located at 104 Alegro Lane Santa Teresa, NM.
What is the asking price?
The asking price for this property is $774,900.
What are key features of this property?
This property features: 61 quadruplexes planned in the gated Las Brisas community; Zoned A1; Under construction with Year Built 2026
