Functional Warehouse with Secured
For Sale
Contact for pricing
400 N Seventeenth St, Las Cruces, NM 88005
Functional warehouse with office/retail setup, climate control, secured yard.
Property Size12,000 SF
Price / SF$65.42
Days on Market639
Property Features for 400 N Seventeenth St
General Information
Standard status
Active
Size
12,000 SF
Class
B
Property subtype
Industrial
Zoning
M1-LT-Manufacturing
Building Details
Year Built
1984
Buildings
1
Stories
1
Listing Agency:
Steinborn Commercial Real Estate
Listed By:
Grady Oxford · License #NM 11039
Source:
Crexi
Added: Nov 26, 2024
Changed: Aug 13
Last Checked: Aug 26 at 1:59AM
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 Steinborn Commercial Real Estate
Investment Insights
Based on property information with market context.
This property offers a functional warehouse space suitable for industrial use, featuring an office or small retail setup. The warehouse is climate-controlled and includes three 12-foot roll-up doors. It also has ADA-compliant restrooms. A secured, fenced yard is in place, and an in-ground dock is available. The property is located in Las Cruces, New Mexico, within a market characterized by tight industrial supply. The property size is 12000 square feet.
Key Highlights
- Functional warehouse space in a market with tight supply.
- Benefit from a climate‑controlled warehouse environment.
- Secured, fenced yard.
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
$71,064
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
9.05%
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%
$1,421,280
$1.4M
Cap Rate 7%
$1,015,200
$1.0M
Cap Rate 9%
$789,600
$789.6K
Market Conditions
NOI Build-Up for 12,000 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
$108.0K $9.00/SF
− Vacancy
−$6.5K −$0.54/SF
EGI
$101.5K $8.46/SF
− OpEx
−$30.5K −$2.54/SF
NOI
$71.1K $5.92/SF
Area
Las Cruces, NM
Vacancy
6.00%
Lease Rate
$9.00 /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%
$1,421,280
Cap Rate 7%
$1,015,200
Cap Rate 9%
$789,600
Alternative Uses
Best Use
Office B
$1.52M
$1.33M – $1.77M
NOI $106,191 @ 7.0% cap · market cap 13.53%
Second Best
Retail
$1.39M
$1.22M – $1.62M
NOI $97,373 @ 7.0% cap · market cap 12.40%
Theoretical Best
Office A
$2.10M
$1.84M – $2.45M
NOI $146,995 @ 7.0% cap · market cap 18.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
549
Businesses Nearby
Well-served
Demand for This Use
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
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Similar Off Market Nearby
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- Twice the Space - Hadley — 1712 W Hadley Ave, Las Cruces, NM 88005
- Twice the Space - Picacho — 2411 W Picacho Ave, Las Cruces, NM 88007
Frequently Asked Questions
What type of property is this?
Warehouse - Functional warehouse with office/retail setup, climate control, secured yard.
Where is this warehouse located?
The property is located at 400 N Seventeenth St Las Cruces, NM.
What is the asking price?
The asking price for this property is $785,000.
What are key features of this property?
This property features: Functional warehouse space in a market with tight supply.; Benefit from a climate‑controlled warehouse environment.; Secured, fenced yard.
