Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    6435 Highway 28 S Las Cruces, NM 88005

    View on Map
    Loading data...
    Loading data...
    Loading data...
    Pending
    $745,000

    Farm with water rights, house, and casita in Las Cruces.

    Property size:
    2,585 SF

    Property Features for 6435 Highway 28 S

    General Information

    Standard status
    Pending
    Size
    2,585 SF
    Exterior features
    Wire, Partial, Fenced Yard., Level, 11 - 20 Acres, US Highway, 10 to 25 Acres, Level.
    Interior features
    3

    We can help!

    Listing Contact
    Keith Brownfield
    Keith Brownfield
    Source: Xome

    Listing Agency: BHGRE Steinborn & Associates Listing Agent: Keith Brownfield

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Las Cruces Farm with Water

    This property features an irrigation well and EBID water rights, situated on approximately 11.98 acres. It includes a three-bedroom, two-bathroom house, along with a one-bedroom studio casita with one bathroom. The property has approximately 12.38 acres of EBID surface water rights and 3 acre feet of ground water rights. The well has a 10-inch casing with a 6-inch pipe and a new dual-stage pump with two propellers. The well is 180 feet deep, with the pump set at 80 feet deep. The property is located at 6435 S Hwy 28, Las Cruces, NM 88005 and the building size is 2585 square feet. The ground water rights have a priority date of 12/31/1958.
    Location Intelligence

    Current Use by Public Records

    Farms

    Map

    City
    Las Cruces
    County
    Dona Ana
    State
    New Mexico
    Longitude
    -106.75875
    Latitude
    32.212154

    Nearby Similar for Sale

    • New
      $399,000
      2,227 SF

      High-Traffic Commercial Property, Las Cruces

      Prominent corner lot ideal for retail or office use.
      1590 E Lohman Ave, Las Cruces, NM 88001
      View Details
    • New
      $1,950,000
      4,140 SF

      High-Traffic Gas Station & C-Store

      Turnkey gas station and convenience store in booming Las Cruces.
      5701 N Jornada Rd, Las Cruces, NM 88012
      View Details
    • New
      $549,990
      2,782 SF

      Las Cruces Multifamily Investment Property

      Five-unit complex near NMSU with recent renovations and upside potential.
      807 Chaparro St, Las Cruces, NM 88001
      View Details
    • $1,150,000
      3.18 Acres

      Las Cruces Industrial Opportunity

      Industrial property with two buildings and ample storage space.
      375 N Compress Rd, Las Cruces, NM 88005
      View Details
    • $309,000
      0.18 Acres

      Historic Mixed-Use Adobe Home

      Charming adobe home in historic district with mixed-use potential.
      606 N Mesquite St, Las Cruces, NM 88001
      View Details
    • $450,000
      0.19 Acres

      Remodeled Duplex in Las Cruces

      Completely remodeled duplex, ideal for investors or owner-occupants.
      1212 Brownlee Ave, Las Cruces, NM 88005
      View Details
    • New
      $230,000
      1,012 SF

      Functional Office Condo For Sale

      Well-maintained office condo in high-traffic location, furniture included.
      2990 N Main St Unit, Las Cruces, NM 88001
      View Details
    • $120,000
      0.22 Acres

      Las Cruces Commercial Opportunity

      Commercial property near downtown Las Cruces, ideal for retail or office.
      2165 Chiquita St, Las Cruces, NM 88001
      View Details
    • New
      $115,000
      0.32 Acres

      Land in Las Cruces, NM

      Land for sale in Las Cruces, New Mexico.
      1311 Vista Del Cerro, Las Cruces, NM 88007
      View Details
    • New
      $199,500
      5.92 Acres

      Las Cruces Horse Property

      Nearly 6-acre horse property with mountain views near city.
      10121 Horace Ln, Las Cruces, NM 88011
      View Details
    • $259,900
      1,050 SF

      Mesquite Historic District Income Property

      Two homes near Downtown Las Cruces with income potential.
      306 S San Pedro St, Las Cruces, NM 88001
      View Details
    • $485,000
      Pending

      Las Cruces Multifamily Opportunity

      Three structures on 0.86 acres near Old Mesilla.
      651 Watson Ln, Las Cruces, NM 88005
      View Details

    FAQs

    What type of property is this?
    Farm - Farm with water rights, house, and casita in Las Cruces.
    Where is this farm located?
    The property is located at 6435 Highway 28 S Las Cruces, NM.
    What is the asking price?
    The asking price for this property is $745,000.
    What are key features of this property?
    This property features: - Approximately 11.98 acres of ground water rights with a priority date of 12/31/1958 and 12.38 acres of EBID surface water rights.; - Includes a 3-bedroom, 2-bathroom house and a separate 1-bedroom/studio casita with 1 bathroom.; - Irrigation well with 10'' casing, 6-inch pipe, and new dual-stage pump.
    (575) 640-9395
    Request Owner's contact information
    6435 Highway 28 S Las Cruces, NM 88005
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    6435 Highway 28 S
    Las Cruces, NM 88005
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    6435 Highway 28 S Las Cruces, NM 88005
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Keith Brownfield
    Keith Brownfield
    Learn More
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!