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Property profile & analytics
FOR LEASE
Retail space

1500 S Valley Dr Las Cruces, NM 88005

5,040 SF 1.26 ac lot Built 2006
Entity Owned 3-yr Hold ~ Est. High Equity
Property ID
US61-0068411
Property summary
AI-generated overview

This exceptional 5,000 square foot retail center in Las Cruces, New Mexico, presents a fantastic leasing opportunity. Located at 1500 S Valley Dr, 88005, this single-story Class B property sits on 1.2 acres of land at a high-traffic corner intersection of Valley Drive and Rigsby. The center enjoys a prime location as a shadow anchor to a Walmart Supercenter, ensuring high visibility and consistent foot traffic. Currently, the center houses a Starbucks, Cricket Wireless, a nail salon, and a smoke shop, creating a diverse and established tenant mix. An automated car wash is slated for construction directly across the street, further enhancing the area's appeal and traffic flow. The available space, totaling 1,250 square feet, was previously occupied by a hair salon and is being offered with existing eight-station salon equipment in place. This presents a unique opportunity for a salon business, with no franchise requirements. The property's strategic location, strong tenant mix, and existing salon equipment make this an ideal investment for a variety of retail businesses seeking a thriving location in Las Cruces. The property is classified as Retail and Special Purpose.

Property profile
Verified
Property type Retail space
Use group RETAIL STORES (PERSONAL SERVICES)
Year built 2006
Construction FRAME
Total area 5,040 SF
Lot 1.26 ac (54,811 SF)
Zoning code GEN-COMMERCL
APN 4-007-136-032-376
UPID US61-0068411
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • Starbucks Cafe & Coffee Shop
  • Smoke Shop and Vape (Bike/Boat/Book/etc) Store
  • Cricket Wireless Authorized Retailer Mobile Phone Store Electronics & Wireless Store
  • Magic Nails Nail Salon
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
$630k
Comparable Approach Comparable
$583k
Blend (final) Blend
$605k
Owner & transaction history
Cat III LLC · 3 yrs held
Cat III LLC
since 2022
5 recorded transactions
2022
Price N/A
2016
Price N/A
2010
Price N/A
2006
Price N/A
1969
Price N/A
Zoning & alternative use
GEN-COMMERCL · Las Cruces, NM
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage $595,000 +45.9%
Commercial (general) $565,000 +38.6%
Office building $545,000 +33.6%
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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