Mixed-Use Property with Food-Prep
For Sale
$599,000
661 Paloma Blanca Drive, Chaparral, NM 88081
Commercial Sale, Chaparral, NM
Property Size5,905 SF
Lot Size2.18 Acres
Price / SF$101.44
Days on Market10
Property Features for 661 Paloma Blanca Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Subdivision
Chaparral Subdivision
Directions
From El Paso: From Sean Haggerty Dr, take McCombs St North to State Line Dr. Turn right on State Line Dr, then left on County Line Dr. Turn left on Paloma Blanca Dr; property is on the right at Hermosa Dr.From Alamogordo / US-54 South: Take US-54 South toward Chaparral. Take the NM-213 / Lisa Dr exit and head North on Lisa Dr. Turn right onto Paloma Blanca Dr; property is 0.5 miles down on the l
Standard status
Active
APN
4-030-154-494-445
Lot size
2.18 Acres
Taxes and HOA fees
Tax Description
Subd: CHAPARRAL SUBDIVISION NO 2 (BK 10 PG 72-74 - 718536) Lot: 16 Block: U S: 24 T: 26S R: 5E PALOMA DRIVE
Legal Description
Subd: CHAPARRAL SUBDIVISION NO 2 (BK 10 PG 72-74 - 718536) Lot: 16 Block: U S: 24 T: 26S R: 5E PALOMA DRIVE
Utilities
Utilities
Natural Gas Available
Heating system
Forced Air, Electric (Heating)
Cooling system
Evaporative Cooling
Water source
Public
Building Details
Flooring type
Tile - Ceramic, Concrete
Building materials
Stucco
Roof type
Flat, Shingle
Listing Agency:
EXIT Realty Horizons
(575) 532-5678
Listed By:
Jessikah Bear Kerr · License #REC20240544
(915) 503-7706
Added: Sep 28
Changed: Oct 6
Last Checked: Oct 7 at 1:06AM
MLS# 2603103
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.
The 2.18-acre property comprises three structures with a combined area of 5,905 square feet. One building provides 1,800 square feet configured for commercial food preparation and retail, with operable corn and flour tortilla production machinery, preparation equipment, and remaining inventory included. A separate 1,705-square-foot brick building offers additional open interior space.
The site has access from two streets and is located in Chaparral, New Mexico. T4 zoning is identified for the property.
The site has access from two streets and is located in Chaparral, New Mexico. T4 zoning is identified for the property.
Key Highlights
- 2.18‑acre mixed‑use property with three structures totaling 5,905 square feet
- 1,800‑square‑foot food‑preparation and retail building
- Includes operable corn and flour tortilla production machinery and preparation equipment
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$54,075
Cap Rate
9.03%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,081,500
$1.1M
Cap Rate 7%
$772,500
$772.5K
Cap Rate 9%
$600,833
$600.8K
Market Conditions
NOI Build-Up for 5,905 SF
Gross rent
$77.9K $13.20/SF
− Vacancy
−$5.8K −$0.99/SF
EGI
$72.1K $12.21/SF
− OpEx
−$18.0K −$3.05/SF
NOI
$54.1K $9.16/SF
Area
Dona Ana County, NM
Vacancy
7.50%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,081,500
Cap Rate 7%
$772,500
Cap Rate 9%
$600,833
Alternative Uses
Best Use
Specialty Retail
$772.5K
$675.9K – $901.3K
NOI $54,075 @ 7.0% cap · market cap 9.03%
Second Best
Mixed Use
$748.5K
$654.9K – $873.2K
NOI $52,392 @ 7.0% cap · market cap 8.75%
Theoretical Best
Office A
$1.03M
$904.2K – $1.21M
NOI $72,334 @ 7.0% cap · market cap 12.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
57
Businesses Nearby
Explore this area
Business Placement
Demographics for 88081, NM
18,079
Population
5,914
Households
3.1
Avg Household Size
33
Median Age
9%
College-Educated
66%
High-School Grad
376.8 sq mi
ZIP Area
48
Density / Sq Mi
$46,102
Median Household Income
$27,848
Median Earnings
$874
Median Rent
$101,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Operable tortilla-making machinery and food-preparation equipment are included with the property.
Where is this mixed-use property located?
The property is located at 661 Paloma Blanca Drive Chaparral, NM.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: 2.18‑acre mixed‑use property with three structures totaling 5,905 square feet; 1,800‑square‑foot food‑preparation and retail building; Includes operable corn and flour tortilla production machinery and preparation equipment
