Anchored Shopping
For Sale
$6,700,000
1300 El Paseo Rd, Las Cruces, NM 88001
Retail center at a signalized intersection with Planet Fitness and multiple established junior-anchor tenants.
Property Size60,932 SF
Price / SF$109.96
Days on Market396
Property Features for 1300 El Paseo Rd
General Information
Standard status
Active
Size
60,932 SF
Property subtype
Retail
Zoning
C-3
Occupancy
90%
Additional Details
Anchor Co-Tenants
Planet Fitness, The UPS Store, H&R Block, Metro by T-Mobile
Building Details
Tenancy
Multi
Listing Agency:
NAI 1st Valley Realty
(575) 521-1535
Listed By:
Jessie Carreon · License #53098
(575) 521-1535
Source:
Carnm.resimplifi
Added: Jul 31, 2025
Changed: Aug 30
Last Checked: Aug 30 at 1:39PM
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 Realty
Investment Insights
Based on property information with market context.
This 60,932-square-foot shopping center is positioned at the lighted intersection of El Paseo Road and includes an established tenant roster. Planet Fitness serves as the center’s anchor, with The UPS Store, H&R Block, and Metro by T-Mobile identified as junior anchors. The property is zoned C-3 and currently reports 90% occupancy.
Located at 1300 El Paseo Road in Las Cruces, the center fronts El Paseo Road, a major north-south thoroughfare through the city. Its signalized intersection setting and existing mix of fitness, shipping, tax-preparation, and wireless retail users provide a defined commercial presence along the corridor.
Located at 1300 El Paseo Road in Las Cruces, the center fronts El Paseo Road, a major north-south thoroughfare through the city. Its signalized intersection setting and existing mix of fitness, shipping, tax-preparation, and wireless retail users provide a defined commercial presence along the corridor.
Key Highlights
- 60,932‑square‑foot shopping center
- 90% occupancy
- Anchored by Planet Fitness
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
$494,427
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
7.38%
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%
$9,888,540
$9.9M
Cap Rate 7%
$7,063,243
$7.1M
Cap Rate 9%
$5,493,633
$5.5M
Market Conditions
NOI Build-Up for 60,932 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
$767.7K $12.60/SF
− Vacancy
−$61.4K −$1.01/SF
EGI
$706.3K $11.59/SF
− OpEx
−$211.9K −$3.48/SF
NOI
$494.4K $8.11/SF
Area
Las Cruces, NM
Vacancy
8.00%
Lease Rate
$12.60 /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%
$9,888,540
Cap Rate 7%
$7,063,243
Cap Rate 9%
$5,493,633
Alternative Uses
Best Use
Retail
$7.06M
$6.18M – $8.24M
NOI $494,427 @ 7.0% cap · market cap 7.38%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$10.66M
$9.33M – $12.44M
NOI $746,393 @ 7.0% cap · market cap 11.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
90%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,533
Businesses Nearby
Well-served
Demand for This Use
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
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Shopping center - Retail center at a signalized intersection with Planet Fitness and multiple established junior-anchor tenants.
Where is this shopping center located?
The property is located at 1300 El Paseo Rd Las Cruces, NM.
What is the asking price?
The asking price for this property is $6,700,000.
What are key features of this property?
This property features: 60,932‑square‑foot shopping center; 90% occupancy; Anchored by Planet Fitness
