Commercial Real Estate Market in New Mexico
New Mexico has 1,845 active for-sale listings and 733 active for-lease listings. Statewide, the median asking price is $182/SF and the median asking rent is $17.25/SF/Yr as of November 2026. Realmo tracks 23 city markets here; among the 13 with enough listings to rank, median asking prices range from $73/SF in Clovis to $204/SF in Las Cruces.
- Median asking price
- $182/SF
- Median asking rent
- $17.25/SF/Yr
- For-sale listings
- 1,845
- For-lease listings
- 733
- City markets
- 23
Highest- and Lowest-Priced Markets
Asking prices vary across New Mexico: the median in Las Cruces is $204/SF, 2.8x the $73/SF median in Clovis. The figures below are median asking prices from live listings, not closed sales.
Asking Prices
The highest median asking prices are in Las Cruces at $204/SF, Rio Rancho at $201/SF and Los Lunas at $185/SF. The lowest median asking prices are in Clovis at $73/SF, Portales at $76/SF and Farmington at $102/SF. 2 of 13 ranked markets have median asking prices above the statewide $182/SF.
New Mexico vs. Neighboring States
The median asking price in New Mexico is $182/SF, below the $192/SF median of its 4 neighboring states. By median asking price, the state ranks 3rd of 5 in the group; Colorado is highest at $254/SF and Oklahoma lowest at $115/SF. The median asking rent is $17.25/SF/Yr, compared with $18.72/SF/Yr in Texas, $18.00/SF/Yr in Colorado and $19.95/SF/Yr in Arizona next door. The statewide median asking price is above the U.S. median of $178/SF.
| State | Median Asking Price, $/SF | Median Asking Rent, $/SF/Yr | For-Sale Listings | For-Lease Listings |
|---|---|---|---|---|
| New Mexico | $182 | $17.25 | 1,845 | 733 |
| Arizona | $230 | $19.95 | 4,286 | 4,510 |
| Colorado | $254 | $18.00 | 5,794 | 4,857 |
| Oklahoma | $115 | $15.00 | 3,858 | 1,597 |
| Texas | $153 | $18.72 | 23,205 | 16,698 |
| United States | $178 | $18.28 | 265,785 | 185,367 |
A dash means fewer than 10 listings with a usable price.
Commercial Real Estate Markets in New Mexico
Realmo tracks 23 city markets in New Mexico, listed below by active listings. Albuquerque leads with 996 active listings, followed by Las Cruces and Clovis.
| City | Active Listings | Median Asking Price, $/SF | Median Asking Rent, $/SF/Yr |
|---|---|---|---|
| Albuquerque | 996 | $173 | $15.49 |
| Las Cruces | 147 | $204 | $16.50 |
| Clovis | 68 | $73 | — |
| Farmington | 62 | $102 | — |
| Roswell | 54 | $106 | — |
| Hobbs | 46 | $120 | — |
| Taos | 41 | — | — |
| Rio Rancho | 39 | $201 | — |
| Gallup | 32 | $104 | — |
| Belen | 30 | $122 | — |
| Los Lunas | 30 | $185 | — |
| Carlsbad | 29 | — | — |
| Raton | 26 | — | — |
| Tucumcari | 26 | — | — |
| Artesia | 23 | — | — |
| Deming | 23 | — | — |
| Alamogordo | 21 | — | — |
| Grants | 21 | $104 | — |
| Portales | 20 | $76 | — |
| Espanola | 18 | $182 | — |
| Lovington | 17 | — | — |
| Socorro | 13 | — | — |
| Estancia | 11 | — | — |
Same method as the statewide figures. A dash means fewer than 10 listings with a usable price.
Frequently Asked Questions
What is the median price per square foot for commercial property in New Mexico?
How much does it cost to lease commercial space in New Mexico?
Which cities have the highest and lowest commercial property prices?
How do commercial property prices in New Mexico compare with neighboring states?
Which markets in New Mexico have the most active listings?
Where does Realmo's market data come from?
Methodology and Data Sources
- Listing coverage
- Asking figures come from 1,845 active for-sale and 733 active for-lease listings across New Mexico in Realmo's public listing index. They are asking prices, not closed-transaction prices. Sale and lease counts are separate and may overlap. Land listings are not counted. The medians are based on the 946 for-sale and 342 for-lease listings that state a price or rent per square foot.
- Asking prices and rents
- Prices are medians of each listing's asking price per square foot, so a few very high or very low listings do not skew them. Data-entry errors are left out, and a median is published only with at least 10 listings with a usable price. A listing with a price range can contribute both endpoints.
- Neighboring states
- Neighboring-state comparisons use the same method and the same snapshot for every state, plus the United States as a reference.
- City markets
- The city list includes cities with more than 3 active listings whose market page has enough data to publish, ordered by active listings, up to 40. The price ranking covers cities with at least 10 priced listings for each metric and leaves out a city more than three times above or below the statewide median. City counts and prices use the same method as the statewide figures, so the table compares like with like; a city's own market page uses its own method, so its figures can differ.
- Updates
- Statewide and neighboring-state figures refresh hourly and city figures daily. Last updated 6 November 2026.
