Building Details

Year Built 1946

Year Renovated 2025

Buildings 1

Stories 2

Units 5

Tenancy Multi

Listing Agency: Steinborn Commercial Real Estate

Listed By: Grady Oxford · License #NM 11039

Source: Crexi

Added: Mar 25 Changed: Aug 31 Last Checked: Sep 6 at 2:22PM

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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.

Offered for sale is a mixed-use property with a diversified tenant setup across multiple levels. The lower floor includes two primary retail tenants, while the upper floors provide four office spaces. There is also an existing unit currently offered for VRBO purposes that can be utilized as additional office space.

The building is positioned at a main entry point to Mesilla Plaza and is directly across the street from the La Posta main entrance. Signage opportunities are described as strong, supporting visibility for retail operations.

According to the current figures provided, the gross income potential across all suites approaches $100,000 annually. An adjacent, separately available facility is also mentioned as generating $44,000+ in gross income, with future increases built into the current tenant’s lease, and the existing tenant at this property is noted as willing to renew under a long-term lease arrangement.

Key Highlights

• 1946‑built property on Mesilla Plaza with retail storefront on the lower level
• Upper floor includes 4 offices, plus an additional unit currently used for VRBO that can serve as office space
• Diversified tenant mix: 2 primary lower floor retail tenants, 4 upper floor offices, and an existing VRBO/office unit

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

$40,707

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

4.52%

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%

$814,140 $814.1K

Cap Rate 7%

$581,529 $581.5K

Cap Rate 9%

$452,300 $452.3K

Market Conditions

NOI Build-Up for 4,600 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

$63.5K $13.80/SF

− Vacancy

−$9.2K −$2.00/SF

EGI

$54.3K $11.80/SF

− OpEx

−$13.6K −$2.95/SF

NOI

$40.7K $8.85/SF

Area

Dona Ana County, NM

Vacancy

14.50%

Lease Rate

$13.80 /SF/Yr

Expense Ratio

25.00%

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%

$814,140

Cap Rate 7%

$581,529

Cap Rate 9%

$452,300

Alternative Uses

Best Use

Office B

$581.5K

$508.8K – $678.5K (±1% cap)

NOI $40,707 @ 7.0% cap · market cap 4.52%

Second Best

Retail

$533.2K

$466.6K – $622.1K (±1% cap)

NOI $37,326 @ 7.0% cap · market cap 4.15%

Theoretical Best

Office A

$805.0K

$704.4K – $939.1K (±1% cap)

NOI $56,348 @ 7.0% cap · market cap 6.26%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Southwest Environmental Center Charitable Organization

Suggested Use

Top Pick Building Supply Big Box & Wholesale Store Real Estate Agency Auto Parts Store Kitchen & Bath Showroom Law Firm

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

4

Office units

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

267

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 88046, NM

718

Population

370

Households

1.9

Avg Household Size

53

Median Age

42%

College-Educated

88%

High-School Grad

0.6 sq mi

ZIP Area

1,197

Density / Sq Mi

$66,300

Median Household Income

$253,000

Median Home Value

Market

Vacancy Rate% for Office in West region

11% 2019

14.1% 2020

15.5% 2021

17.2% 2022

19.9% 2023

21% 2024

20.8% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this storefront properties located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Storefront property - Storefront retail on the lower level with upper-floor offices and an additional unit used for short-term rentals or office space.

Where is this storefront property located?

The property is located at 2000 Calle De Parian Mesilla, NM.

What is the asking price?

The asking price for this property is $900,000.

What are key features of this property?

This property features: 1946‑built property on Mesilla Plaza with retail storefront on the lower level; Upper floor includes 4 offices, plus an additional unit currently used for VRBO that can serve as office space; Diversified tenant mix: 2 primary lower floor retail tenants, 4 upper floor offices, and an existing VRBO/office unit