Retail Property with Swap
For Sale
$5,500,000
5580 E Bataan Memorial # 1-6, Las Cruces, NM 88011
Two buildings, covered outdoor areas, and available utilities accommodate an ongoing owner-operated commercial business.
Property Size12,280 SF
Lot Size18.61 Acres
Price / SF$183.11
Days on Market68
Property Features for 5580 E Bataan Memorial # 1-6
General Information
Standard status
Active
Size
12,280 SF
Lot size
18.61 Acres
Site & Location
Highway Access
Yes
Road Access
Yes
Utilities to Site
Yes
Additional Details
Business Included
Yes
Land Use
swap meet
Amenities
farm utilities shelters and canopies
41 to 50 Years
Active
Land Included
Restaurant, Retail
Fencing
No
Good to Excellent
Retail
Flea Market plus buildings shelters and land
Metal,Wood,Plaster
Concrete
810651
Evaporative Cooling
Gas Available, Forced Air
16 - 20 Ft
12280
Metal
Unknown, Public Sewer
Natural Gas Available, Electricity Available
Gas,Electric
Parking Pad, Parking Lot
Highway
10.01 to 20 AC
810652
Public Records
Frame, Steel Siding, Stucco
Conforming Zoning
Building Details
Building Size
12,280 SF
Listing Agency:
(575) 650-7224
Listed By:
Ron Bruder
(575) 650-7224
Source:
Homesforsaleinlascruces.idxbroker
Added: Jun 25
Changed: Aug 30
Last Checked: Aug 30 at 1:09PM
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 Ron Bruder
Investment Insights
Based on property information with market context.
This retail property encompasses 18.61 acres with an ongoing indoor/outdoor swap meet business. Improvements include two site buildings measuring 9,000 square feet and 3,280 square feet, along with six farm utility shelters and canopies. The property reports 17,757 square feet associated with the additional covered improvements, for 30,037 total rentable square feet. Interior features include concrete construction elements, 16–20 foot clear heights, evaporative cooling, and forced-air heating. Exterior improvements include a parking pad and parking lot.
The site has frontage on Interstate Highway 70 and is located along the highway side road between the Mesa Grande and Porter Road exits in Las Cruces. City gas, city water, and electricity are available. The property also includes natural gas, electricity, and public sewer availability, with conforming zoning identified in the property records.
The site has frontage on Interstate Highway 70 and is located along the highway side road between the Mesa Grande and Porter Road exits in Las Cruces. City gas, city water, and electricity are available. The property also includes natural gas, electricity, and public sewer availability, with conforming zoning identified in the property records.
Key Highlights
- 18.61‑acre retail property with an ongoing indoor/outdoor swap meet business
- Frontage on Interstate Highway 70 between Mesa Grande and Porter Road exits
- Two buildings measure 9,000 square feet and 3,280 square feet
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
Lease Details
Turnkey business
Opportunity
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
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?
Retail space - Two buildings, covered outdoor areas, and available utilities accommodate an ongoing owner-operated commercial business.
Where is this retail space located?
The property is located at 5580 E Bataan Memorial # 1-6 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: 18.61‑acre retail property with an ongoing indoor/outdoor swap meet business; Frontage on Interstate Highway 70 between Mesa Grande and Porter Road exits; Two buildings measure 9,000 square feet and 3,280 square feet
