1155 El Paseo Rd Las Cruces, NM 88001-6027
Property profile & analytics
1155 El Paseo Rd Las Cruces, NM 88001-6027
- Drive through restaurants
- 2,813 SF
- 0.65 lot acres
Property ID
US61-0203325
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.
Location Intelligence
Current Use by Public Records
- Drive through restaurants
Property Details for 1155 El Paseo Rd
- Year built
- 1975
- Lot size
- 0.65 lot acres
- Property size
- 2,813 SF
- Zone code
- GEN-COMMERCL
- Property type
- Drive through restaurants
- APN
- 4-007-136-401-071
- APU
- 4007136401071
Description
This exceptional investment opportunity presents a fee-simple, single-tenant, absolute NNN leased property featuring a Long John Silver's restaurant. Located at 1155 El Paseo Rd, Las Cruces, NM 88001, this 2,813 square foot building sits on a 28,119 square foot lot in a prime C2 Community Commercial zoned area. The property boasts a strong operational history, having been in operation for 24 years at this location, and recently underwent renovations in 2018. The current lease with the largest Long John Silver's franchisee (operating approximately 52 stores) has six years remaining, with four additional five-year renewal options. The property offers a compelling 6.91% cap rate, generating a net operating income (NOI) of $62,149 annually, with a sale price of $900,000 ($319.94/sq ft). Built in 1975, this one-story building benefits from a 100% occupancy rate and features both dine-in and drive-thru service. Its strategic location on the hard corner of El Paseo Road and Utah Ave places it within an established business district near downtown Las Cruces and New Mexico State University (NMSU), ensuring consistent customer traffic. Rent bumps are included in the lease terms. This is a core, absolute net investment offering a secure and profitable return.
Value Estimations
based on Realmo’s proprietary methodology
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CAP approach
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Comparable approach
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Alternative Use
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Location Insight
- Map
- Local Demand
- City
- Las Cruces
- County
- Dona Ana
- State
- New Mexico
- Longitude
- -106.773
- Latitude
- 32.2991
- CBSA code
- 29740
- CBSA name
- LAS CRUCES, NM METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$6,277
$42,179
$141,888
$184,067
-
$126,536
$425,664
$552,200
