Triplex with Three-Bedroom Main
For Sale
$265,000
Pending
439 N Alameda Blvd, Las Cruces, NM 88005
Each residence has designated parking, mini-split refrigerated air, and included appliances.
Property Size3,112 SF
Days on Market81
Property Features for 439 N Alameda Blvd
General Information
Standard status
Pending
Size
3,112 SF
Property subtype
Multi-Family
Additional Details
Unit Mix
1 x 3BR, 1 x 1BR, 1 x 2BR
Building Details
Year Built
1920
Listing Agency:
EXIT Realty Horizons
(575) 915-2461
Listed By:
Irma Chavez-May
Source:
Searchlascruceshomesforsale
Added: Jun 12
Changed: Aug 30
Last Checked: Aug 30 at 5:55PM
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 EXIT Realty Horizons
Investment Insights
Based on property information with market context.
This triplex contains a three-bedroom primary residence with a two-car garage, plus separate one-bedroom and two-bedroom units positioned behind it. The two-bedroom unit includes updates and finished interiors, while all three residences are equipped with mini-split refrigerated air, appliances, and designated parking.
Built in 1920, the 3,112-square-foot property is located at 439 N Alameda Blvd in Las Cruces, New Mexico. The unit configuration provides a combination of larger and smaller residential layouts within one multifamily asset, with the main home distinguished by its garage and three-bedroom plan.
Built in 1920, the 3,112-square-foot property is located at 439 N Alameda Blvd in Las Cruces, New Mexico. The unit configuration provides a combination of larger and smaller residential layouts within one multifamily asset, with the main home distinguished by its garage and three-bedroom plan.
Key Highlights
- Triplex configuration with one three‑bedroom unit, one two‑bedroom unit, and one one‑bedroom unit
- 3,112 SF multifamily property built in 1920
- Three‑bedroom main unit includes a two‑car garage
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
$20,998
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
7.92%
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%
$419,960
$420.0K
Cap Rate 7%
$299,971
$300.0K
Cap Rate 9%
$233,311
$233.3K
Market Conditions
NOI Build-Up for 3,112 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
$31.7K $10.20/SF
− Vacancy
−$1.7K −$0.56/SF
EGI
$30.0K $9.64/SF
− OpEx
−$9.0K −$2.89/SF
NOI
$21.0K $6.75/SF
Area
Las Cruces, NM
Vacancy
5.50%
Lease Rate
$10.20 /SF/Yr
Expense Ratio
30.00%
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%
$419,960
Cap Rate 7%
$299,971
Cap Rate 9%
$233,311
Alternative Uses
Best Use
Multifamily LT 5
$300.0K
$262.5K – $350.0K
NOI $20,998 @ 7.0% cap · market cap 7.92%
Second Best
Apartment 5plus
$269.8K
$236.1K – $314.8K
NOI $18,887 @ 7.0% cap · market cap 7.13%
Theoretical Best
Office A
$544.6K
$476.5K – $635.4K
NOI $38,121 @ 7.0% cap · market cap 14.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,545
Businesses Nearby
Explore this area
Business Placement
Demographics for 88005, NM
26,997
Population
12,039
Households
2.2
Avg Household Size
41
Median Age
31%
College-Educated
85%
High-School Grad
150.9 sq mi
ZIP Area
179
Density / Sq Mi
$51,770
Median Household Income
$28,908
Median Earnings
$899
Median Rent
$207,100
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Each residence has designated parking, mini-split refrigerated air, and included appliances.
Where is this triplex located?
The property is located at 439 N Alameda Blvd Las Cruces, NM.
What is the asking price?
The asking price for this property is $265,000.
What are key features of this property?
This property features: Triplex configuration with one three‑bedroom unit, one two‑bedroom unit, and one one‑bedroom unit; 3,112 SF multifamily property built in 1920; Three‑bedroom main unit includes a two‑car garage
