Three-Bay Self-Storage
For Sale
Contact for pricing
2201 N Mesquite St, Las Cruces, NM 88001
Condo-format property with gated entry, shared parking, HVAC, and drive-in access.
Property Size3,381 SF
Price / SF$99.08
Days on Market229
Property Features for 2201 N Mesquite St
General Information
Standard status
Active
Size
3,381 SF
Property subtype
INDUSTRIAL
Additional Details
Fenced Yard
Yes
Conditioned Warehouse
Yes
Amenities
securitized gate entry
Listing Agency:
Steinborn/TCN Commercial Real Estate
(575) 639-1208
Listed By:
Kary Bulsterbaum · License #43302
(575) 639-1208
Source:
Moodyscre
Added: Jan 13
Changed: Aug 30
Last Checked: Aug 30 at 2:32AM
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/TCN Commercial Real Estate
Investment Insights
Based on property information with market context.
This 3,381-square-foot self-storage facility is offered as a condominium unit within a shared-access property. The layout includes three bays, with HVAC and drive-in access serving each unit. High interior ceilings provide vertical space for storage and equipment installation.
Access, ingress, and parking are shared among the facility’s users, with entry controlled through a gated system. Located at 2201 N Mesquite St in Las Cruces, the property combines bay-level functionality with a multi-unit configuration suitable for storage or operational use.
Access, ingress, and parking are shared among the facility’s users, with entry controlled through a gated system. Located at 2201 N Mesquite St in Las Cruces, the property combines bay-level functionality with a multi-unit configuration suitable for storage or operational use.
Key Highlights
- 3,381‑square‑foot self‑storage condominium
- Three‑bay configuration with HVAC in each unit
- Drive‑in access provided to all units
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
$22,813
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
6.81%
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%
$456,260
$456.3K
Cap Rate 7%
$325,900
$325.9K
Cap Rate 9%
$253,478
$253.5K
Market Conditions
NOI Build-Up for 3,381 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
$28.4K $8.40/SF
− Vacancy
−$1.6K −$0.46/SF
EGI
$26.8K $7.94/SF
− OpEx
−$4.0K −$1.19/SF
NOI
$22.8K $6.75/SF
Area
Las Cruces, NM
Vacancy
5.50%
Lease Rate
$8.40 /SF/Yr
Expense Ratio
15.00%
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%
$456,260
Cap Rate 7%
$325,900
Cap Rate 9%
$253,478
Alternative Uses
Best Use
Warehouse
$325.9K
$285.2K – $380.2K
NOI $22,813 @ 7.0% cap · market cap 6.81%
Second Best
Flex RnD
$317.0K
$277.4K – $369.9K
NOI $22,192 @ 7.0% cap · market cap 6.62%
Theoretical Best
Office A
$591.7K
$517.7K – $690.3K
NOI $41,416 @ 7.0% cap · market cap 12.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
649
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 Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Self storage facility - Condo-format property with gated entry, shared parking, HVAC, and drive-in access.
Where is this self storage facility located?
The property is located at 2201 N Mesquite St Las Cruces, NM.
What is the asking price?
The asking price for this property is $335,000.
What are key features of this property?
This property features: 3,381‑square‑foot self‑storage condominium; Three‑bay configuration with HVAC in each unit; Drive‑in access provided to all units
