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    Las Cruces Commercial Investment Property Title is generated by Realmo AI

    1570 W Picacho Avenue, Las Cruces, NM 88005

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    Claim this Listing
    For Sale
    $575,000

    COMMERCIAL - Las Cruces, NM

    Property size:
    4,002 SF
    Lot size:
    0.61 Acres
    Price / SF:
    $143/SF
    Added:
    Apr 30, 2026
    Days on Market:
    25
    Last Refresh:
    May 24 at 5:06 pm

    Property Features for 1570 W Picacho Avenue

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Parking features
    Parking Lot
    Standard status
    Active
    APN
    4-006-135-094-107
    Size
    4,002 SF
    Lot size
    0.61 Acres

    Taxes and HOA fees

    Tax Description
    S: 13 T: 23S R: 1E MAP 9C TR 6 OLIVER EQUIPMENT CO

    Utilities

    Utilities
    Natural Gas Available
    Sewer type
    Public Sewer
    Heating system
    Natural Gas, Forced Air
    Water source
    Public

    Building Details

    Floors in Building
    1
    Number of units
    3
    Building materials
    Frame

    We can help!

    Listing Contact
    Cristal Garcia
    Cristal Garcia

    Listing agent Cristal Garcia License #53772

    Listing office EXIT Realty Horizons 3519 Foothills Rd., Las Cruces, NM

    Listing date Apr 30, 2026

    MLS# 2601377

    Copyright © 2026 Las Cruces 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.

    Overview

    This commercial property in Las Cruces, NM, presents an investment opportunity with multiple income streams. The building includes two front-facing units on Picacho Ave. The first unit, previously a barbershop and now used for storage, measures approximately 1,748 sq. ft. The second unit, spanning 2,254 sq. ft., serves as office space. A durable metal roof was installed in 2017. A separate storage warehouse, including an office and two large garage doors for access, is located at the rear of the property with a zero lot line on the west side and is currently used for additional storage. The property occupies a 0.61-acre lot. All occupants are on month-to-month leases, providing the new owner with the flexibility to modify rental rates, reconfigure occupancy, or utilize a portion of the property for owner use while generating income from the remaining leased spaces. The property is located in Dona Ana County.

    Financial Insights

    Value Estimation Calculated for Mixed Use

    Conservative
    $394.5K
    NOI $35,508 @ 9.00% cap · cautious / downside scenario
    Moderate
    $507.3K
    NOI $35,508 @ 7.00% cap · market / base-case scenario
    Aggressive
    $710.2K
    NOI $35,508 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    NOI Build-Up
    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.
         Calculated for Mixed Use

    Component $ $/SF
    Gross rent $62.4k $15.60
    − Vacancy −$5.6k −$1.40
    EGI $56.8k $14.20
    − OpEx −$21.3k −$5.32
    NOI $35.5k $8.87
    4,002 SF · lease $15.60/SF/yr · vacancy 9.00% · expense 37.50%

    Alternative Use Scenarios

    Best Use
    Mixed Use
    $507.3K
    $443.9K – $591.8K (±1% cap)
    NOI $35,508 @ 7.0% cap · market cap 6.18%
    Second Best
    Office B
    $505.9K
    $442.7K – $590.3K (±1% cap)
    NOI $35,415 @ 7.0% cap · market cap 6.16%
    Theoretical Best
    Office A
    $700.3K
    $612.8K – $817.1K (±1% cap)
    NOI $49,023 @ 7.0% cap · market cap 8.53%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Master Barbers Barber Shop Camino Nuevo Counseling Daycare Center Greater Health & Income Physician Adobe Kitchens Hardware & Home Improvement Rolling Stone Countertops Kitchen & Bath Showroom

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Las Cruces
    County
    Dona Ana
    State
    New Mexico
    Longitude
    -106.799978
    Latitude
    32.312621

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    FAQs

    What type of property is this?
    Mixed-use property - Mixed-use property with multiple income streams and flexible occupancy.
    Where is this mixed-use property located?
    The property is located at 1570 W Picacho Avenue Las Cruces, NM.
    What is the asking price?
    The asking price for this property is $575,000.
    (575) 650-5039
    We can help!
    Listing Contact
    Cristal Garcia
    Cristal Garcia
    Real Estate License ID: 53772
    Request Owner's contact information
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    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
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