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
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2407 Greene St Hwy Carlsbad, NM 88220

    • Commercial real estate
    • 4,565 SF
    • 18.39 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 2407 Greene St Hwy

    Year built
    2011
    Lot size
    18.39 lot acres
    Property size
    4,565 SF
    Property type
    Commercial real estate

    Description

    This exceptional commercial property, located just east of 2407 Greene Street Highway in Carlsbad, New Mexico, presents a unique investment opportunity. The expansive 18.39-acre lot offers significant visibility from the highway, making it ideal for a variety of commercial ventures. The property features a substantial 4,565 square foot metal building, measuring 80 feet by 40 feet. Inside, the building boasts 13 individual offices, providing ample space for a diverse workforce or multiple tenants. Additional amenities include a fully equipped kitchen, two spacious meeting rooms perfect for collaborative work or client presentations, and four restrooms for convenience. The property also includes three existing RV hookups, catering to potential recreational or temporary housing needs. A one-bedroom, one-bathroom trailer is included in the sale. The zoning is currently designated as commercial for the front portion of the acreage and rural/residential for the remaining rear acreage, offering flexibility for future development or expansion. This versatile property is ready for immediate occupancy and presents a compelling opportunity for entrepreneurs and investors alike. The asking price is $415,000. This is a must-see property for anyone seeking a substantial commercial space with significant land in a prime Carlsbad location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Carlsbad
    County
    Eddy
    State
    New Mexico
    Longitude
    -104.157
    Latitude
    32.4451

    Comparable in this City

    • Value Estimation by Request

      1110 Pierce St

      Land
      1110 Pierce St, Carlsbad, NM 88220
      View Details
    • Value Estimation by Request
      4.52 Acres

      880 Derrick Rd

      Land • 4.52 Acres
      880 Derrick Rd, Carlsbad, NM 88220
      View Details
    • Value Estimation by Request
      1.23 Acres

      204 Happy Valley Rd

      Manufacturing properties • 1.23 Acres
      204 Happy Valley Rd, Carlsbad, NM 88220
      View Details
    • Value Estimation by Request
      10,848 SF

      3221 National Park Hwy Hwy

      Commercial real estate • 10,848 SF
      3221 National Park Hwy Hwy, Carlsbad, NM 88220
      View Details
    • Value Estimation by Request

      Carlsbad, NM 88220

      COMMERCIAL (GENERAL)
      Carlsbad, NM 88220
      View Details
    • Value Estimation by Request

      Carlsbad, NM 88220

      COMMERCIAL (GENERAL)
      Carlsbad, NM 88220
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      6.71 Acres

      Carlsbad, NM Redevelopment Opportunity

      6.71 Acres, Lakefront Potential
      512 Grn St, Carlsbad, NM 88220
      View Details
    • Contact for pricing
      2,100 SF

      Carlsbad Commercial Space - High Visibility

      Prime location, ample parking, great for office or retail.
      1709 Church St, Carlsbad, NM 88220
      View Details
    • $325,000
      1.23 Acres

      Carlsbad Industrial Property - $325K

      1.23-acre commercial warehouse with office.
      204 Happy Valley Rd, Carlsbad, NM 88220
      View Details
    • $183,000
      1,228 SF

      Carlsbad Commercial Property Investment

      Three lots, habitable house, C2 zoning.
      701 Halagueno St, Carlsbad, NM 88220
      View Details
    • $79,000

      Carlsbad Commercial Land - $79K

      Prime Commercial Lot, High Traffic Area
      2412 Church St, Carlsbad, NM 88220
      View Details
    • $850,000

      Carlsbad Commercial Land - $850K

      Prime Commercial Land, High-Income Potential
      1110 Pierce St, Carlsbad, NM 88220
      View Details

    Similar Nearby for Lease

    • $6,000 /Mo
      3,639,002 SF

      US Hwy 285 Industrial Park

      ±83 Acres, Eddy County, NM
      0 Us-285, Loving, NM 88220
      View Details
    • $9,750 /Mo

      Carlsbad Land with Renovated Office

      20 acres of land for lease with office space.
      8006 Molinar Rd, Carlsbad, NM 88220
      View Details
    • $10 SF/Yr
      13,745 SF

      Algerita Street Industrial Property

      Prime industrial land, warehouse, office
      2007 Algerita St, Carlsbad, NM 88220
      View Details
    • $3 SF/Yr
      13,703 SF

      Canal Street Commercial Land

      High-visibility land, ideal business location.
      1302 Canal St, Carlsbad, NM 88220
      View Details
    • Contact for pricing
      9,375 SF

      Eddy County Flex Space - 9,375 SF

      Modern industrial flex space; ideal for various uses.
      167 Kelly Rd, Carlsbad, NM 88220
      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.
    2407 Greene St Hwy
    Carlsbad, NM 88220
    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.