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Property profile & analytics
OFF-MARKET
Estimated value
$4,005,000
Outlet malls
2280 Lohman Ave Las Cruces, NM 88001-8490
Entity Owned
20-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US61-0292409
Property profile
Verified
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Year built
2002
Total area
30,775 SF
Lot
2.93 ac (127,631 SF)
Zoning code
GEN-COMMERCL
APN
4-008-135-527-145
UPID
US61-0292409
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
-
Best Buy Electronics & Wireless Store
-
Geek Squad Tech Support Center (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$3.84M
Comparable Approach
Comparable
$4.17M
Blend (final)
Blend
$4.01M
Owner & transaction history
Cole Bb Lascruces Nm LLC
Cole Bb Lascruces Nm LLC
1 recorded transaction
Zoning & alternative use
GEN-COMMERCL · Las Cruces, NM
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Source
land development code
Top alternative use upside
Restaurant
$4.2M
+53.5%
Office building
$4.0M
+44.9%
Auto repair, garage
$3.6M
+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%
$4,160,000
6.5%
$3,840,000
7%
$3,565,000
Alternative Use
Use
Estimation
RETAIL STORES
$2,760,000
Current use
RESTAURANT
$4,235,000
Change: +54% · Conversion: Easy
OFFICE BUILDING
$4,000,000
Change: +45% · Conversion: Easy
AUTO REPAIR, GARAGE
$3,630,000
Change: +32% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$3,545,000
Change: +28% · Conversion: Difficult
COMMERCIAL (GENERAL)
$2,675,000
Change: -3% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$2,570,000
Change: -7% · Conversion: Difficult
Blend value · Realmo final
$4.01M
Range $3.60M – $4.41M · ±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
$130 / 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
$38,738
Tax year 2023
Assessed value
$1,135,936
Assessed 2023
Previous assessed
$1,135,936
+0.0% YoY
Effective rate
3.41%
On assessed value
Assessed land
$425,437
Assessed improvement
$710,499
Land market value
$1,276,310
Improvement market value
$2,131,498
Total market value
$3,407,808
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
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Status
Off-Market
Year built
2002
Heating
NONE
Total area
30,775 SF
Lot
2.93 ac (127,631 SF)
Zoning code
GEN-COMMERCL
APN
4-008-135-527-145
UPID
US61-0292409
Jurisdiction
DONA ANA
Zoning & alternative use
GEN-COMMERCL · Las Cruces, NMZoning GEN-COMMERCL · permitted uses
GEN-COMMERCL · Las Cruces, NM
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Source
land development code
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$2.8M
RESTAURANT
Est. value
$4.2M
OFFICE BUILDING
Est. value
$4.0M
AUTO REPAIR, GARAGE
Est. value
$3.6M
INDUSTRIAL (GENERAL)
Est. value
$3.5M
COMMERCIAL (GENERAL)
Est. value
$2.7M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.6M
RETAIL STORES Current
RESTAURANT
OFFICE BUILDING
AUTO REPAIR, GARAGE
INDUSTRIAL (GENERAL)
COMMERCIAL (GENERAL)
APARTMENT HOUSE (5+ UNITS)
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
2002
Heating
NONE
Lot
2.93 ac
Current owner
From public records · entity-resolved
Cole Bb Lascruces Nm LLC
Entity
Mailing address
7601 PENN AVE S, RICHFIELD, MN 55423-8500
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
—
—
Cole Bb Lascruces Nm LLC
—
Deed Of Trust
related
$3,809,000 · Wachovia Bank NA
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.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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