Historic Mixed-Use Property with
New
For Sale
Contact for pricing
15890 B Street, Organ, NM 88052
Historic schoolhouse-turned mixed-use building with remodeled commercial space and an apartment unit with a wraparound patio.
Property Size2,298 SF
Price / SF$174.06
Days on Market3
Property Features for 15890 B Street
General Information
Standard status
Active
Size
2,298 SF
Property subtype
Retail, Office, Mixed Use
Additional Details
Highway Access
Yes
Building Details
Year Built
1908
Listing Agency:
Steinborn Commercial Real Estate
Listed By:
Grady Oxford · License #NM 11039
Source:
Crexi
Added: Jul 28
Changed: Jul 30
Last Checked: Jul 30 at 1:35PM
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.
Originally built as a schoolhouse in 1908, this remodeled mixed-use property includes a commercial section of approximately 1,600+ SF and an apartment unit of about 600 SF. The apartment is described as being in outstanding condition and features a wraparound patio.
The property provides direct highway visibility with visibility described as 10,000+ daily traffic. Zoning is described as extensive and flexible, and the remarks indicate the site may support a wide range of concepts, including retail, office, day care, educational and community uses, religious facilities, cultural centers, personal services, and open markets. The facility is also described as having potential for a unique tasting room or eatery.
Set at 15890 B Street in Organ, NM, the surrounding area is described as being dominated by construction service companies serving White Sands, NASA, and other federal installations, with nearby households primarily consisting of married or widowed older adults nearing retirement or retired.
The property provides direct highway visibility with visibility described as 10,000+ daily traffic. Zoning is described as extensive and flexible, and the remarks indicate the site may support a wide range of concepts, including retail, office, day care, educational and community uses, religious facilities, cultural centers, personal services, and open markets. The facility is also described as having potential for a unique tasting room or eatery.
Set at 15890 B Street in Organ, NM, the surrounding area is described as being dominated by construction service companies serving White Sands, NASA, and other federal installations, with nearby households primarily consisting of married or widowed older adults nearing retirement or retired.
Key Highlights
- Originally built as a schoolhouse in 1908 and extensively remodeled
- Commercial section of approximately 1,600+ SF
- Apartment unit of about 600 SF in outstanding condition
Financial Insights For Mixed Use
Simulate Cap Rate and NOI
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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $35.8k | $15.60 |
| − Vacancy | −$3.2k | −$1.40 |
| EGI | $32.6k | $14.20 |
| − OpEx | −$12.2k | −$5.32 |
| NOI | $20.4k | $8.87 |
2,298 SF · lease $15.60/SF/yr · vacancy 9.00% · expense 37.50%
Alternative Uses
Best Use
Mixed Use
$291.3K
$254.9K – $339.8K
NOI $20,389 @ 7.0% cap · market cap 5.10%
Second Best
Office B
$290.5K
$254.2K – $338.9K
NOI $20,336 @ 7.0% cap · market cap 5.08%
Theoretical Best
Office A
$402.1K
$351.9K – $469.2K
NOI $28,150 @ 7.0% cap · market cap 7.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
20
Businesses Nearby
Explore this area
Business Placement
Demographics for 88052, NM
291
Population
118
Households
2.5
Avg Household Size
51
Median Age
41%
College-Educated
84%
High-School Grad
6.1 sq mi
ZIP Area
48
Density / Sq Mi
$240,903
Median Household Income
$134,038
Median Earnings
$121,500
Median Home Value
Market
Properties on Market for Mixed-use properties in Dona Ana County
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Historic schoolhouse-turned mixed-use building with remodeled commercial space and an apartment unit with a wraparound patio.
Where is this mixed-use property located?
The property is located at 15890 B Street Organ, NM.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: Originally built as a schoolhouse in 1908 and extensively remodeled; Commercial section of approximately 1,600+ SF; Apartment unit of about 600 SF in outstanding condition
