Commercial Real Estate Market in Las Cruces, NM
Updated monthly: sale, lease, property records, location trend, and more… · Last update: September 30
501 active listings and 2,111 off-market properties in Las Cruces, NM. Commercial property asks $31/SF to buy and $16.41/SF/Yr to lease.
Market Trends
Las Cruces, NM spans 1,142.9 square miles in Dona Ana County, New Mexico. Figures below refresh monthly; last updated 30 September 2026.
Office
Office vacancy in Las Cruces, NM runs 20.8% across the West region in 2025, up from 11% in 2019.
Vacancy Rate % in West region
Retail
Retail vacancy in Las Cruces, NM runs 5.8% across the West region in 2025, down from 7% in 2020.
Vacancy Rate % in West region
Industrial
Industrial vacancy in Las Cruces, NM runs 7.9% across the West region in 2025, up from 3.7% in 2019. Nearly 3.2x the 2022 low of 2.5%.
Vacancy Rate % in West region
Multifamily
Multifamily space in Las Cruces, NM asks $200/SF to buy. Vacancy runs 8.6% across the West region in 2025, up from 7% in 2022.
Average Sale Price $/SF
Listings
Vacancy Rate % in West region
Market overview
Demographics & Economy
Las Cruces, NM has 156,106 residents in 67,613 households. Density runs 137 people per square mile. Median household income here is $57,793 and median gross rent $958 a month.
156,106
Population
67,613
Households
2.3
Avg Household Size
37
Median Age
36%
College-Educated
87%
High-School Grad
1142.9 sq mi
ZIP Area
137
Density / Sq Mi
$57,793
Median Household Income
$34,143
Median Earnings
$958
Median Rent
$225,738
Median Home Value
Tools
Frequently Asked Questions
What is the average price per square foot for commercial property in Las Cruces?
Commercial property in Las Cruces, NM asks an average of $31 per square foot. Multifamily carries the highest asking price at $200/SF.
How much does it cost to lease commercial space in Las Cruces?
Asking lease rates in Las Cruces, NM average $16.41 per square foot per year.
Where does Realmo's Las Cruces market data come from?
Realmo compiles Las Cruces, NM figures from 409 active sale listings, 92 active lease listings, 2,111 tracked off-market properties. Sale and lease figures refresh monthly; vacancy annually. Last updated 30 September 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 409 active for-sale and 92 active for-lease listings in Las Cruces, NM. These are ASKING figures from live listings, not closed-transaction prices, and a segment carried by a handful of listings reads as indicative rather than an average.
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Refresh
- The monthly aggregates close at the end of the previous month, so 30 September 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at West region level, retail vacancy is reported at West region level and industrial vacancy is reported at West region level.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 30 September 2026 · How Realmo checks market page data · Report a data issue
