Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$595,000
Retail space
1615 Solano Dr Las Cruces, NM 88001-1889
Entity Owned
4-yr Hold
Free & Clear
Property ID
US61-0206963
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1985
Construction
FRAME
Total area
7,120 SF
Lot
0.33 ac (14,391 SF)
Zoning code
NEIGH-COMMER
APN
4-007-134-311-229
UPID
US61-0206963
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
-
ProTax, LLC Tax Preparation
-
Verde Environmental II, LLC SWPP Plans Environmental Engineer Environmental Consultant
-
Local NM Business Marketing & Advertising Advertising Agency
-
weight watchers Weight Loss Service
-
Nicole's Therapeutic Massage Alternative Medicine Practice Spa & Massage Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$588k
Blend (final)
Blend
$595k
Owner & transaction history
Kolson Investments LLC · 4 yrs held
Kolson Investments LLC
since 2022
2 recorded transactions
Zoning & alternative use
NEIGH-COMMER · Las Cruces, NM
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$980,000
+53.5%
Office building
$925,000
+44.9%
Auto repair, garage
$840,000
+31.6%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Las Cruces submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Las Cruces submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$640,000
Current use
RESTAURANT
$980,000
Change: +54% · Conversion: Easy
OFFICE BUILDING
$925,000
Change: +45% · Conversion: Easy
AUTO REPAIR, GARAGE
$840,000
Change: +32% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$820,000
Change: +28% · Conversion: Difficult
COMMERCIAL (GENERAL)
$620,000
Change: -3% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$595,000
Change: -7% · Conversion: Difficult
WAREHOUSE, STORAGE
$525,000
Change: -18% · Conversion: Difficult
Blend value · Realmo final
$595k
Range $536k – $655k · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$84 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$5,464
Tax year 2023
Assessed value
$160,222
Assessed 2023
Previous assessed
$160,222
+0.0% YoY
Effective rate
3.41%
On assessed value
Assessed land
$21,587
Assessed improvement
$138,635
Land market value
$64,760
Improvement market value
$415,905
Total market value
$480,665
Applied tax rate
2.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1985
Construction
FRAME
Heating
NONE
Total area
7,120 SF
Lot
0.33 ac (14,391 SF)
Zoning code
NEIGH-COMMER
APN
4-007-134-311-229
UPID
US61-0206963
Jurisdiction
DONA ANA
Zoning & alternative use
NEIGH-COMMER · Las Cruces, NM
Zoning NEIGH-COMMER · permitted uses
NEIGH-COMMER · Las Cruces, NM
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Las Cruces. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$640,000
RESTAURANT
Est. value
$980,000
OFFICE BUILDING
Est. value
$925,000
AUTO REPAIR, GARAGE
Est. value
$840,000
INDUSTRIAL (GENERAL)
Est. value
$820,000
COMMERCIAL (GENERAL)
Est. value
$620,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$595,000
WAREHOUSE, STORAGE
Est. value
$525,000
RETAIL STORES Current
RESTAURANT
OFFICE BUILDING
AUTO REPAIR, GARAGE
INDUSTRIAL (GENERAL)
COMMERCIAL (GENERAL)
APARTMENT HOUSE (5+ UNITS)
WAREHOUSE, STORAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1985
Construction
FRAME
Heating
NONE
Lot
0.33 ac
Current owner
From public records · entity-resolved
Kolson Investments LLC
Entity
Free & Clear · 4 yrs held
Mailing address
2401 NIEVE LN, LAS CRUCES, NM 88005-4326
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 5, 2022
—
Kolson Investments LLC
Solano II LLC
Land Contract
—
Dec 10, 2021
—
Solano I LLC
B & J Olson LLC
Warranty Deed
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 1615 Solano Dr?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
