Swap Meet Shopping Center
For Sale
$4,900,000
5580 E Bataan Memorial, Las Cruces, NM 88011
Commercial Sale, Las Cruces, NM
Property Size30,037 SF
Lot Size18.61 Acres
Price / SF$163.13
Days on Market92
Property Features for 5580 E Bataan Memorial
General Information
Property type
Commercial Sale
Property subtype
Other
Parking features
Parking Lot
Subdivision
Hacienda Acres
Directions
Highway 70 side Rd. Between Mesa Grande exit and Porter Rd. Exit
Standard status
Active
APN
4-011-130-348-090
Lot size
18.61 Acres
Taxes and HOA fees
Tax Description
S: 23 T: 22S R: 2E PT OF NEQTR
Legal Description
S: 23 T: 22S R: 2E PT OF NEQTR
Utilities
Utilities
Natural Gas Available
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Cooling system
Evaporative Cooling
Water source
Public
Building Details
Flooring type
Concrete
Building materials
Frame, Steel Siding, Stucco
Roof type
Metal
Listing Agency:
RE/MAX Classic Realty · RE/MAX International
(575) 524-8788
Listed By:
Ernesto Uranga · License #39037
(575) 644-7254
Added: May 23
Changed: Aug 19
Last Checked: Aug 22 at 3:06PM
MLS# 2601671
Copyright © 2026 Las Cruces Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This property is an ongoing indoor/outdoor swap meet business operating from two site buildings totaling 30,037 rentable square feet. The larger building is 9,000 square feet and the second building is 3,280 square feet, plus additional farm utility shelters and canopies.
The site spans 18.61 acres with frontage on Interstate Highway 70 in Las Cruces, New Mexico. Utilities available include city gas, city water, and electricity.
The owner is operating the swap meet, and the property includes enough land for additional development concepts such as residential subdivision, commercial plaza, storage, or an auctioneer business, subject to applicable approvals.
The site spans 18.61 acres with frontage on Interstate Highway 70 in Las Cruces, New Mexico. Utilities available include city gas, city water, and electricity.
The owner is operating the swap meet, and the property includes enough land for additional development concepts such as residential subdivision, commercial plaza, storage, or an auctioneer business, subject to applicable approvals.
Key Highlights
- 18.61‑acre property with frontage on Interstate Highway 70 in Las Cruces, NM
- Ongoing indoor/outdoor swap meet business with two site buildings totaling 30,037 rentable SF
- Two buildings: 9,000 SF and 3,280 SF, plus 6 farm utility shelters and canopies
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
4.97%
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 4.97%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.26M
$4.60M – $6.13M
NOI $367,941 @ 7.0% cap · market cap 7.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
111
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 site buildings support an ongoing indoor/outdoor swap meet on 18.61 acres with interstate frontage.
Where is this retail space located?
The property is located at 5580 E Bataan Memorial Las Cruces, NM.
What is the asking price?
The asking price for this property is $4,900,000.
What are key features of this property?
This property features: 18.61‑acre property with frontage on Interstate Highway 70 in Las Cruces, NM; Ongoing indoor/outdoor swap meet business with two site buildings totaling 30,037 rentable SF; Two buildings: 9,000 SF and 3,280 SF, plus 6 farm utility shelters and canopies
