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Property profile & analytics

2250 Locust St Las Cruces, NM 88001

  • Commercial real estate
  • 10,270 SF
  • 1.03 lot acres
OFF-MARKET
Value Estimations
Cap Rate Potential
Location Intelligence
Property ID
US61-0154711
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

  • Commercial real estate

Property Details for 2250 Locust St

Year built
1962
Lot size
1.03 lot acres
Property size
10,270 SF
Property type
Commercial real estate
APN
4-009-136-052-417

Description

This exceptional 13-unit apartment building in Las Cruces, New Mexico, presents a compelling investment opportunity. Located on a 1.03-acre lot, the property comprises five single-story buildings totaling 10,270 square feet. Built in 1962 and extensively renovated in 2023, the complex features a mix of thirteen ground-floor apartments, offering residents the convenience of private parking directly outside their doors. Three brand-new one-bedroom/one-bathroom units have been recently completed, along with renovations to ten existing units. Significant upgrades include new electrical service for seven apartments and multiple HVAC system improvements. The property boasts a desirable location near New Mexico State University, Icebox Brewery, I-25, and I-10, providing easy access to shopping, dining, and entertainment. The current Net Operating Income (NOI) is $93,743, with a pro-forma NOI of $117,545, yielding a 6.45% cap rate and a pro-forma cap rate of 8.40%, respectively. The asking price is $1,399,890, translating to a price per unit of $107,683.85. The property is zoned R-3 and offers several value-add opportunities, including the potential for additional common area amenities or further unit upgrades. This well-maintained asset presents a strong return on investment with potential for significant future growth, making it an ideal acquisition for discerning investors. The property is situated in a high-demand area with a Walk Score of 72 and a Bike Score of 87.


Value Estimations

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Location Insight

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  • Local Demand
City
Las Cruces
County
Doña Ana
State
New Mexico
Longitude
-106.74938338191
Latitude
32.289909488954
More about this property
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