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

    2105 Espina St Las Cruces, NM 88001-5550

    • Residential income homes
    • 9,490 SF
    • 0.84 lot acres
    OFF-MARKET
    Last Sale
    Jul 12, 2022
    Value Estimations
    $660,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US61-0296717
    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.

    Current Use by Public Records

    • Residential income homes

    Property Details for 2105 Espina St

    Year built
    1965
    Lot size
    0.84 lot acres
    Property size
    9,490 SF
    Zone code
    HI-DENS-RES
    Property type
    Residential income homes
    Property subtype
    Serviced apartments
    APN
    4-008-136-298-432
    APU
    4008136298432

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $960,000
      6.5%
      $885,000
      7%
      $825,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $700,000
      Market price range: $586k - $957k

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $790,000
      Current use
      INDUSTRIAL (GENERAL)
      $1,095,000
      Change: +38% Conversion: Difficult
      RETAIL STORES
      $850,000
      Change: +7% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $825,000
      Change: +4% Conversion: Moderate
      WAREHOUSE, STORAGE
      $700,000
      Change: -12% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Las Cruces
    County
    Dona Ana
    State
    New Mexico
    Longitude
    -106.759
    Latitude
    32.2893
    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
    $7,936
    $36,760
    $219,860
    $256,620
    -
    $110,280
    $659,580
    $769,860

    Comparable in this City

    • Value Estimation by Request
      2,496 SF

      1101 La Fonda Dr

      BOARDING/ROOMING HOUSE • 2,496 SF
      1101 La Fonda Dr, Las Cruces, NM 88001-4065
      View Details
    • Value Estimation by Request
      3,242 SF

      1035 Sable Cir

      BOARDING/ROOMING HOUSE • 3,242 SF
      1035 Sable Cir, Las Cruces, NM 88001-2385
      View Details
    • Value Estimation by Request
      2,385 SF

      465 Salopek Blvd, Unit 1

      BOARDING/ROOMING HOUSE • 2,385 SF
      465 Salopek Blvd, Las Cruces, NM 88001-7608
      View Details
    • Value Estimation by Request
      2,955 SF

      1213 Juniper Ave

      BOARDING/ROOMING HOUSE • 2,955 SF
      1213 Juniper Ave, Las Cruces, NM 88001-2157
      View Details
    • Value Estimation by Request
      5,600 SF

      1130 La Fonda Dr

      BOARDING/ROOMING HOUSE • 5,600 SF
      1130 La Fonda Dr, Las Cruces, NM 88001-4076
      View Details
    • Value Estimation
      $675,000
      6,956 SF

      854 Lettuce Ln

      BOARDING/ROOMING HOUSE • 6,956 SF
      854 Lettuce Ln, Las Cruces, NM 88001-8808
      View Details

    Similar Nearby for Sale

    • $234,000
      Pending

      Las Cruces Triplex Investment Opportunity

      Triplex near NMSU with development potential and income generation.
      1140 S Mesquite St, Las Cruces, NM 88001
      View Details
    • $350,000
      0.12 Acres

      New Duplex - Investment Opportunity

      New construction duplex in Las Cruces, great for investors.
      California Ave, Las Cruces, NM 88001
      View Details
    • $499,000
      1,971 SF

      Las Cruces Restaurant - Turnkey Opportunity

      Established Restaurant, Prime Location, High Revenue
      195 Mesquite St, Las Cruces, NM 88001
      View Details
    • $339,000
      0.18 Acres

      Historic Adobe Home, Mixed-Use Potential

      Charming adobe home in historic district, ideal for mixed-use.
      606 N Mesquite St, Las Cruces, NM 88001
      View Details
    • $79,000

      Downtown Las Cruces Development Opportunity

      Small lot ideal for retail, office, or apartment development.
      1995 N Solano Dr, Las Cruces, NM 88001
      View Details
    • $210,000
      Pending

      Commercial Office Building with Apartment

      Commercial office with studio apartment on a busy street.
      1000 E Lohman Ave, Las Cruces, NM 88001
      View Details

    Similar Nearby for Lease

    • $600,000
      16,988 SF

      Downtown Las Cruces Mixed-Use Property

      Remodeled mixed-use property in revitalized downtown Las Cruces.
      506 E May Ave, Las Cruces, NM 88001
      View Details
    • $14 SF/Yr

      Las Cruces Office Space For Lease

      Prime Retail/Office Space Available Now
      1125 Solano Dr, Las Cruces, NM 88001
      View Details
    • $12 SF/Yr
      5,492 SF

      Retail Spaces on Missouri Avenue

      Retail spaces available in high-traffic area near university.
      1404-1480 Missouri Ave, Las Cruces, NM 88001
      View Details
    • $450 /Mo
      600 SF

      Commercial Storage and Self-Storage Units

      Commercial storage and self-storage units available for rent.
      1050 Santa Fe St, Las Cruces, NM 88001
      View Details
    • Contact for pricing

      Research Park Land for Lease

      Land for lease in Arrowhead Business and Research Park.
      4608 Research Park Cir, Las Cruces, NM 88001
      View Details
    • $12 SF/Yr
      1,750 SF

      Retail Center Space For Rent

      Grocery anchored retail center in high traffic area.
      1253 El Paseo Rd, 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.
    2105 Espina St
    Las Cruces, NM 88001-5550
    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.