Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    1719 University Ave Las Cruces, NM 88001

    Property Lookup

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

    1719 University Ave Las Cruces, NM 88001

    View on Map
    • Lifestyle centers
    • 9,344 SF
    • 18.25 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Pan Am Plaza / Business Service Center / Corporate Office
    • Supercuts / Hair Salon / Nail Salon

    Property Details for 1719 University Ave

    Lot size
    18.25 lot acres
    Property size
    9,344 SF
    Property type
    Lifestyle centers
    Property subtype
    Power centers

    Description

    Pan Am Plaza presents a unique investment opportunity in the thriving Las Cruces, New Mexico market. This multi-use property boasts a total of 9,344 square feet of existing commercial space, currently offering three available retail units. The property sits on a 1.2-acre lot within a larger 18.25-acre parcel in Doña Ana County, conveniently located at 1719 E University Ave, Las Cruces, NM 88001. The plaza enjoys high visibility and excellent access, situated near established businesses such as Domino's, McDonald's, and Lorenzo's. Further enhancing the property's appeal, a new Starbucks is under construction and slated for completion in 2024. Development opportunities abound with a ±4-acre pad site available on the east side, fronting S. Triviz Dr., and a new retail building under construction on the west side, fronting Locust Street. This new construction will offer five additional spaces ranging from 1,200 to 1,800 square feet, accompanied by 32 shared parking spaces. The existing spaces offer ample shared parking, making this an ideal location for a variety of retail and office tenants. This property offers a blend of immediate income potential and significant future development possibilities, making it a compelling investment in a dynamic New Mexico market.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Las Cruces
    County
    Doña Ana
    State
    New Mexico
    Longitude
    -106.746
    Latitude
    32.2874

    Comparable in this City

    • Value Estimation by Request
      61,232 SF

      1300 El Paseo Rd

      Lifestyle centers • 61,232 SF
      1300 El Paseo Rd, Las Cruces, NM 88001
      View Details
    • Value Estimation by Request
      5,400 SF

      2505 Main St

      MINI-MALL • 5,400 SF
      2505 Main St, Las Cruces, NM 88001-1154
      View Details
    • Value Estimation
      $670,000
      13,580 SF

      2513 Main St

      MINI-MALL • 13,580 SF
      2513 Main St, Las Cruces, NM 88001-1154
      View Details
    • Value Estimation by Request
      5.31 Acres

      1125 Solano Dr

      Office properties & Spaces • 5.31 Acres
      1125 Solano Dr, Las Cruces, NM 88001
      View Details
    • Value Estimation by Request

      2300- Main St

      Office properties & Spaces
      2300- Main St, Las Cruces, NM 88001
      View Details
    • Value Estimation by Request
      5.31 Acres

      1117 Solano Dr

      Office properties & Spaces • 5.31 Acres
      1117 Solano Dr, Las Cruces, NM 88001
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      1,971 SF

      Established Restaurant Business For Sale

      Profitable restaurant with real estate, equipment included in sale.
      195 N Mesquite St, Las Cruces, NM 88001
      View Details
    • Contact for pricing
      7,280 SF

      Retail Property in Las Cruces

      Retail property available for sale in Las Cruces, New Mexico.
      802 S Solano Dr, Las Cruces, NM 88001
      View Details
    • New
      $225,000
      5.00 Acres

      5-Acre Fenced Land Parcel

      Expansive 5-acre parcel, fenced, utilities onsite, development potential.
      5740 Horny Toad Rd, Las Cruces, NM 88001
      View Details
    • Contact for pricing

      Land with Streamlined Permit Process

      Land available for rent with expedited permitting and design flexibility.
      2001 S Main St, Las Cruces, NM 88001
      View Details
    • Contact for pricing

      Land Parcels Available for Sale

      Multiple land parcels available, joint venture preferred.
      E Griggs Ave, Las Cruces, NM 88001
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      5,000 SF

      Retail Center with Grocery Anchor

      Retail center anchored by grocery store and junior co-tenants.
      1215 El Paseo Rd, Las Cruces, NM 88001
      View Details
    • Contact for pricing
      5,177 SF

      Former Restaurant Space Available

      5,177 SF former restaurant space for lease.
      1340 E Lohman Ave, Las Cruces, NM 88001
      View Details
    • Contact for pricing

      Retail Space Near Interstate 25

      Retail opportunity with high visibility near I-25 and Main.
      I-25 & Main St, Las Cruces, NM 88001
      View Details
    • Contact for pricing
      1,506 SF

      Retail Center Space For Rent

      Grocery anchored retail center in high traffic area.
      1253 El Paseo Rd, Las Cruces, NM 88001
      View Details
    • Contact for pricing

      Downtown Office Space Available

      Office space for rent in historic downtown district.
      201 N Church St, Las Cruces, NM 88001
      View Details
    • Contact for pricing

      Renovated Office Space in Downtown

      Fully renovated office space in the heart of Las Cruces.
      519 E Lohman Ave, Las Cruces, NM 88001
      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.
    1719 University Ave
    Las Cruces, NM 88001
    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

    Thank You for Inquiry

    1719 University Ave, Las Cruces, NM, 88001

    letter with green check mark
    Check your email

    We sent you the

    agent's contact details. yellow underline

    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!