Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    855 Picacho Ave Las Cruces, NM 88005

    • Self storage facilities
    • 2,992 SF
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US61-0023801
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • AGS GLASS / Glass Repair Service / Auto Glass Repair Service
    • Premier HomeCare / Home Health Care Service / Care Services
    • C D Customs / Music Store

    Property Details for 855 Picacho Ave

    Year built
    1970
    Property size
    2,992 SF
    Property type
    Self storage facilities
    APN
    4006135376052

    Description

    This exceptional Las Cruces, NM, property offers a compelling multi-stream income opportunity. The 15,000-square-foot mixed-use complex, built in 1970 and renovated in 2003, sits on a 32,220-square-foot lot at 855 W Picacho Ave, 88005, in Doña Ana County. The property features a diverse mix of uses including light industrial space, warehouse/shop areas, a vehicle lot, mini-storage units, and street-fronting businesses. A 1,428-square-foot manufactured home (3 bedrooms, 2 baths) provides additional rental income or on-site living. Currently boasting 90% occupancy across its 17 tenants, the property generates a strong NOI of $36,494, with a pro-forma NOI of $44,161. The five single-story buildings offer 18 units, with a total of 25 parking spaces. The property is completely fenced and well-maintained. Zoned C2, this turnkey investment presents a stable rent history and significant upside potential. The asking price is $495,000, representing $165.44 per square foot and $27,500 per unit. Rent bumps are in place. This is a fee-simple ownership with a 7.37% cap rate and a pro-forma cap rate of 8.92%.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Las Cruces
    County
    Doña Ana
    State
    New Mexico
    Longitude
    -106.79091610967
    Latitude
    32.314450483375

    Comparable in this City

    • $696,088
      1.89 Acres

      Las Cruces Industrial Land - $696K

      Prime 1.888-acre corner lot, M-1 zoning.
      401 Valley Dr, Las Cruces, NM 88005
      View Details
    • $950,000
      6,000 SF

      Las Cruces Office/Warehouse with Yard

      Office and warehouse space with fenced yard in Las Cruces.
      2261 Copper Loop, Las Cruces, NM 88005
      View Details
    • $850,000
      9,524 SF

      Las Cruces Industrial Duo

      Two buildings, prime location, great value.
      717 Organ Ave, Las Cruces, NM 88005
      View Details
    • $2,000,000

      Las Cruces Industrial Flex Space

      ±18,926 SF Flex Space, $2M
      311 Southgate Ct, Las Cruces, NM 88005
      View Details
    • $2,000,000
      9,594 SF

      Industrial Warehouse For Sale

      18,926 SF industrial warehouse on 1.68 AC lot.
      311 Southgate Ct, Las Cruces, NM 88005
      View Details
    • $1,150,000
      3.18 Acres

      Las Cruces Industrial Opportunity

      Industrial property with two buildings and ample storage space.
      375 N Compress Rd, Las Cruces, NM 88005
      View Details

    Similar Nearby for Sale

    • $696,088
      1.89 Acres

      Las Cruces Industrial Land - $696K

      Prime 1.888-acre corner lot, M-1 zoning.
      401 Valley Dr, Las Cruces, NM 88005
      View Details
    • $950,000
      6,000 SF

      Las Cruces Office/Warehouse with Yard

      Office and warehouse space with fenced yard in Las Cruces.
      2261 Copper Loop, Las Cruces, NM 88005
      View Details
    • $850,000
      9,524 SF

      Las Cruces Industrial Duo

      Two buildings, prime location, great value.
      717 Organ Ave, Las Cruces, NM 88005
      View Details
    • $2,000,000

      Las Cruces Industrial Flex Space

      ±18,926 SF Flex Space, $2M
      311 Southgate Ct, Las Cruces, NM 88005
      View Details
    • $2,000,000
      9,594 SF

      Industrial Warehouse For Sale

      18,926 SF industrial warehouse on 1.68 AC lot.
      311 Southgate Ct, Las Cruces, NM 88005
      View Details
    • $1,150,000
      3.18 Acres

      Las Cruces Industrial Opportunity

      Industrial property with two buildings and ample storage space.
      375 N Compress Rd, Las Cruces, NM 88005
      View Details

    Similar Nearby for Lease

    • $850 /Mo
      890 SF

      Office/Warehouse Suites Available

      Small office/warehouse suites with parking and signage.
      1595 W Amador Ave, Las Cruces, NM 88005
      View Details
    • $8 SF/Yr
      13,831 SF

      Industrial Space Available For Lease

      Industrial space for lease featuring precast concrete tilt-up construction.
      1773 Buildtek Ct, Las Cruces, NM 88005
      View Details
    • Contact for pricing

      Amigo

      Commercial Building corner Of Valley and Picacho Avenue
      1560 Picacho Ave, Las Cruces, NM 88005
      View Details
    • $950,000
      12,000 SF

      Functional Warehouse with Secured Yard

      Functional warehouse with office, dock, fenced yard, climate control.
      400 N 17Th St, Las Cruces, NM 88005
      View Details
    • $6 SF/Yr
      5,000 SF

      Retail/Warehouse Space for Lease

      Retail and warehouse space with great visibility and storage.
      384 S Melendres St, Las Cruces, NM 88005
      View Details
    • $2,200 /Mo
      8,250 SF

      Industrial Warehouse Space Available

      8,250 SF warehouse on a corner lot for lease.
      421 N Mesilla St, Las Cruces, NM 88005
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    855 Picacho Ave
    Las Cruces, NM 88005
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.