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    205 San Miguel St La Mesa, NM 88044

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    For Sale
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    Two Mobile Home Rental Portfolio, $249K

    Property Features for 205 San Miguel St

    General Information

    Property type
    Multifamily properties

    Building Details

    Units
    2

    We can help!

    Listing Contact
    Ernesto Uranga
    Ernesto Uranga

    Listing Agency: RE/MAX Classic Realty Listing Agent: Ernesto Uranga

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Exceptional investment opportunity: This La Mesa, NM multifamily property features two mobile homes situated on a 0.89-acre lot. The property boasts 27+ mature pecan trees and its own irrigation well. One home, built in 1987, offers three bedrooms and two baths across 1064 square feet. The second, a 1984 build, also features three bedrooms and two baths, totaling 1120 square feet. Both homes benefit from city sewer, water, and electricity connections. Conveniently located one block from Highway 28, with easy access to I-25, this property presents a rare opportunity in a desirable location between El Paso, TX and Las Cruces, NM. The paved road access and established infrastructure enhance the property's appeal. This turnkey investment offers significant potential for rental income and long-term appreciation. The property's unique combination of residential units, mature pecan trees, and irrigation well makes it a truly distinctive offering. Don't miss this chance to acquire a well-maintained, income-producing property in a rapidly growing area. The asking price is $249,000, representing $124,500 per unit.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential income homes

    Suggested Use

    Restaurant Big Box & Wholesale Store Department Store Food Market Grocery & Convenience Store Daycare Center (Bike/Boat/Book/etc) Store Carpet & Flooring Store (Bike/Boat/Book/etc) Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    La Mesa
    County
    Doña Ana
    State
    New Mexico
    Longitude
    -106.7064528
    Latitude
    32.1229147

    FAQs

    What type of property is this?
    Multifamily property - Two Mobile Home Rental Portfolio, $249K
    Where is this multifamily property located?
    The property is located at 205 San Miguel St La Mesa, NM.
    What is the asking price?
    The asking price for this property is $249,000.
    What are key features of this property?
    This property features: Two mobile homes on a 0.89-acre lot with 27+ pecan trees and an irrigation well, located in La Mesa, NM.; One 1987 mobile home offers 1,064 sq ft, 3 bedrooms, and 2 baths; the other 1984 mobile home features 1,120 sq ft, 3 bedrooms, and 2 baths.; All city utilities are connected (sewer, water, electricity), and the property has paved road access, one block from Highway 28, and convenient I-25 interstate access.
    (575) 644-7254 Call to check price and availability
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    205 San Miguel St La Mesa, NM 88044
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    La Mesa, NM 88044
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    205 San Miguel St La Mesa, NM 88044
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    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Ernesto Uranga
    Ernesto Uranga
    Real Estate License ID: 39037
    (575) 644-7254 (575) 644-5345 (914) 243-5200
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