Solar-Powered Horse Property with
For Sale
$769,000
565 Carver Road, Las Cruces, NM 88005
Multi-use equestrian property with solar power, office space, workshop, corrals, and mature outdoor surroundings.
Property Size3,267 SF
Price / SF$235.38
Days on Market18
Property Features for 565 Carver Road
General Information
Standard status
Active
Size
3,267 SF
Property subtype
Commercial
Building Details
Year Built
1983
Listing Agency:
Mesa Flats Realty
(575) 639-0093
Listed By:
Joel Gilbert · License #REC20230006
Source:
Mesaflatsrealty
Added: Aug 13
Changed: Aug 30
Last Checked: Aug 30 at 1:06AM
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 Mesa Flats Realty
Investment Insights
Based on property information with market context.
Set across 2.14 acres, this horse and equestrian property combines residential, office, agricultural, and utility improvements. The primary dwelling provides approximately 2,803 square feet of living area along with 543 square feet of office space. Solar power serves the property, while mature trees, open green fields, and wildflowers shape the grounds.
The supporting improvements include an oversized garage and shop with 3 vehicle bays, approximately 138 square feet of storage, and about 325 square feet of heated and cooled workshop area. Horse facilities include corrals, 3 horse stalls, a tac barn, and a locking storage room. A large swim spa with a custom sunning deck adds another outdoor feature. Built in 1983, the property is located at 565 Carver Road in Las Cruces, New Mexico.
The supporting improvements include an oversized garage and shop with 3 vehicle bays, approximately 138 square feet of storage, and about 325 square feet of heated and cooled workshop area. Horse facilities include corrals, 3 horse stalls, a tac barn, and a locking storage room. A large swim spa with a custom sunning deck adds another outdoor feature. Built in 1983, the property is located at 565 Carver Road in Las Cruces, New Mexico.
Key Highlights
- 2.14‑acre horse and equestrian property with residential, office, and agricultural improvements
- Approximately 2,803 square feet of living space plus 543 square feet of office space
- Solar‑powered property with mature trees, green fields, and wildflowers
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
$28,986
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
3.77%
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%
$579,720
$579.7K
Cap Rate 7%
$414,086
$414.1K
Cap Rate 9%
$322,067
$322.1K
Market Conditions
NOI Build-Up for 3,267 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
$51.0K $15.60/SF
− Vacancy
−$4.6K −$1.40/SF
EGI
$46.4K $14.20/SF
− OpEx
−$17.4K −$5.32/SF
NOI
$29.0K $8.87/SF
Area
Las Cruces, NM
Vacancy
9.00%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
37.50%
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%
$579,720
Cap Rate 7%
$414,086
Cap Rate 9%
$322,067
Alternative Uses
Best Use
Mixed Use
$414.1K
$362.3K – $483.1K
NOI $28,986 @ 7.0% cap · market cap 3.77%
Second Best
Office B
$413.0K
$361.4K – $481.8K
NOI $28,910 @ 7.0% cap · market cap 3.76%
Theoretical Best
Office A
$571.7K
$500.2K – $667.0K
NOI $40,019 @ 7.0% cap · market cap 5.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
52
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 Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Horse & equestrian property - Multi-use equestrian property with solar power, office space, workshop, corrals, and mature outdoor surroundings.
Where is this horse & equestrian property located?
The property is located at 565 Carver Road Las Cruces, NM.
What is the asking price?
The asking price for this property is $769,000.
What are key features of this property?
This property features: 2.14‑acre horse and equestrian property with residential, office, and agricultural improvements; Approximately 2,803 square feet of living space plus 543 square feet of office space; Solar‑powered property with mature trees, green fields, and wildflowers
