Commercial Land with Interstate
For Sale
Contact for pricing
5580 BATAAN MEMORIAL E, Las Cruces, NM 88011
An operating indoor/outdoor swap meet occupies a large commercial land holding with multiple site improvements.
Property Size30,037 SF
Price / SF$183.11
Days on Market62
Property Features for 5580 BATAAN MEMORIAL E
General Information
Standard status
Active
Size
30,037 SF
Property subtype
Land
Building Details
Year Built
1989
Units
1
Listing Agency:
RE/MAX Classic Realty
(575) 644-7254
Listed By:
Ernesto Uranga · License ###
Source:
Crexi
Added: Jul 1
Changed: Aug 30
Last Checked: Aug 30 at 8:16PM
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 RE/MAX Classic Realty
Investment Insights
Based on property information with market context.
This commercial land property includes an ongoing indoor/outdoor swap meet operation and two site buildings measuring 9,000 SF and 3,280 SF. Additional improvements include six farm utility shelters and canopies, contributing to a reported total of 30,037 rentable square feet across the property. The site also offers frontage along Interstate Highway 70.
Available utilities include city gas, city water, and electricity. The property includes an established operating use along with substantial land area and existing improvements, providing a combination of open-site functionality and enclosed space. The improvements were built in 1989.
Available utilities include city gas, city water, and electricity. The property includes an established operating use along with substantial land area and existing improvements, providing a combination of open-site functionality and enclosed space. The improvements were built in 1989.
Key Highlights
- 18.654 acres identified for the commercial land property
- Ongoing indoor/outdoor swap meet business
- Frontage on Interstate Highway 70
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
$243,732
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
4.43%
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%
$4,874,640
$4.9M
Cap Rate 7%
$3,481,886
$3.5M
Cap Rate 9%
$2,708,133
$2.7M
Market Conditions
NOI Build-Up for 30,037 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
$378.5K $12.60/SF
− Vacancy
−$30.3K −$1.01/SF
EGI
$348.2K $11.59/SF
− OpEx
−$104.5K −$3.48/SF
NOI
$243.7K $8.11/SF
Area
Las Cruces, NM
Vacancy
8.00%
Lease Rate
$12.60 /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%
$4,874,640
Cap Rate 7%
$3,481,886
Cap Rate 9%
$2,708,133
Alternative Uses
Best Use
Retail
$3.48M
$3.05M – $4.06M
NOI $243,732 @ 7.0% cap · market cap 4.43%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.26M
$4.60M – $6.13M
NOI $367,941 @ 7.0% cap · market cap 6.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
110
Businesses Nearby
Explore this area
Business Placement
Demographics for 88011, NM
32,885
Population
15,160
Households
2.2
Avg Household Size
43
Median Age
55%
College-Educated
95%
High-School Grad
251.7 sq mi
ZIP Area
131
Density / Sq Mi
$75,139
Median Household Income
$43,093
Median Earnings
$1,053
Median Rent
$315,100
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?
Commercial land - An operating indoor/outdoor swap meet occupies a large commercial land holding with multiple site improvements.
Where is this commercial land located?
The property is located at 5580 BATAAN MEMORIAL E Las Cruces, NM.
What is the asking price?
The asking price for this property is $5,500,000.
What are key features of this property?
This property features: 18.654 acres identified for the commercial land property; Ongoing indoor/outdoor swap meet business; Frontage on Interstate Highway 70
