Mixed-Use Property with Retail
New
For Sale
$550,000
1695 N Main Street, Las Cruces, NM 88001
NH-2.U.MX zoning supports a combined retail, work-area, and residential configuration.
Property Size1,960 SF
Price / SF$280.61
Days on Market7
Property Features for 1695 N Main Street
General Information
Standard status
Active
Size
1,960 SF
Property subtype
Commercial
Zoning
NH-2.U.MX
Listing Agency:
Makeityourplace
(575) 644-5607
Listed By:
Bruce Crichton · License #LCN1548
Source:
Homefindernm
Added: Aug 22
Changed: Aug 28
Last Checked: Aug 25 at 3:44AM
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 Makeityourplace
Investment Insights
Based on property information with market context.
Located at 1695 N Main Street in Las Cruces, this mixed-use property contains 1,960 square feet arranged for multiple functions. The interior is divided among a retail store, a work area, and residential space, creating a flexible combination of commercial and residential components.
The property is zoned NH-2.U.MX, which allows mixed commercial, retail, and residential uses. Business items associated with the operation are available separately from the real estate.
The property is zoned NH-2.U.MX, which allows mixed commercial, retail, and residential uses. Business items associated with the operation are available separately from the real estate.
Key Highlights
- 1960 SQ.FT. mixed‑use property at 1695 N Main Street
- Interior includes a retail store, work area, and residential space
- NH‑2.U.MX zoning allows mixed commercial, retail, and residential uses
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
$17,390
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
3.16%
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%
$347,800
$347.8K
Cap Rate 7%
$248,429
$248.4K
Cap Rate 9%
$193,222
$193.2K
Market Conditions
NOI Build-Up for 1,960 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
$30.6K $15.60/SF
− Vacancy
−$2.8K −$1.40/SF
EGI
$27.8K $14.20/SF
− OpEx
−$10.4K −$5.32/SF
NOI
$17.4K $8.87/SF
Area
Las Cruces, NM
Vacancy
9.00%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
37.50%
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%
$347,800
Cap Rate 7%
$248,429
Cap Rate 9%
$193,222
Alternative Uses
Best Use
Mixed Use
$248.4K
$217.4K – $289.8K
NOI $17,390 @ 7.0% cap · market cap 3.16%
Second Best
Retail
$227.2K
$198.8K – $265.1K
NOI $15,904 @ 7.0% cap · market cap 2.89%
Theoretical Best
Office A
$343.0K
$300.1K – $400.2K
NOI $24,009 @ 7.0% cap · market cap 4.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
673
Businesses Nearby
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.
Frequently Asked Questions
What type of property is this?
Mixed-use property - NH-2.U.MX zoning supports a combined retail, work-area, and residential configuration.
Where is this mixed-use property located?
The property is located at 1695 N Main Street Las Cruces, NM.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: 1960 SQ.FT. mixed‑use property at 1695 N Main Street; Interior includes a retail store, work area, and residential space; NH‑2.U.MX zoning allows mixed commercial, retail, and residential uses
