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Property profile & analytics
OFF-MARKET
Estimated value
$785,000
Warehouses
2321 Westgate Ct, Las Cruces, NM 88005-4138
Entity Owned
5-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US61-0184390
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1995
Total area
12,000 SF
Lot
1.17 ac (50,835 SF)
Zoning code
LT-MANUFACTR
APN
4-005-136-370-100
UPID
US61-0184390
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
-
Airmix Welding Supply Big Box & Wholesale Store Building Supply
-
Walking H Saddle Shop (Bike/Boat/Book/etc) Store Agricultural Supply
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$781k
Blend (final)
Blend
$785k
Owner & transaction history
Jjr Properties LLC · 5 yrs held
Jjr Properties LLC
since 2020
5 recorded transactions
Zoning & alternative use
LT-MANUFACTR · Las Cruces, NM
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$1.3M
+126.8%
Restaurant
$1.2M
+115.6%
Apartment house (5+ units)
$1.0M
+79.7%
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
WAREHOUSE, STORAGE
$570,000
Current use
OFFICE BUILDING
$1,295,000
Change: +127% · Conversion: Difficult
RESTAURANT
$1,235,000
Change: +116% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$1,030,000
Change: +80% · Conversion: Difficult
RETAIL STORES
$970,000
Change: +70% · Conversion: Moderate
INDUSTRIAL (GENERAL)
$780,000
Change: +37% · Conversion: Easy
Blend value · Realmo final
$785k
Range $707k – $864k · ±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
$65 / 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
$7,754
Tax year 2023
Assessed value
$227,369
Assessed 2023
Previous assessed
$227,369
+0.0% YoY
Effective rate
3.41%
On assessed value
Assessed land
$42,363
Assessed improvement
$185,006
Land market value
$127,088
Improvement market value
$555,017
Total market value
$682,105
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1995
Heating
NONE
Total area
12,000 SF
Lot
1.17 ac (50,835 SF)
Zoning code
LT-MANUFACTR
APN
4-005-136-370-100
UPID
US61-0184390
Jurisdiction
DONA ANA
Zoning & alternative use
LT-MANUFACTR · Las Cruces, NM
Zoning LT-MANUFACTR · permitted uses
LT-MANUFACTR · 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
WAREHOUSE, STORAGE Current
Est. value
$570,000
OFFICE BUILDING
Est. value
$1.3M
RESTAURANT
Est. value
$1.2M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.0M
RETAIL STORES
Est. value
$970,000
INDUSTRIAL (GENERAL)
Est. value
$780,000
WAREHOUSE, STORAGE Current
OFFICE BUILDING
RESTAURANT
APARTMENT HOUSE (5+ UNITS)
RETAIL STORES
INDUSTRIAL (GENERAL)
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
1995
Heating
NONE
Lot
1.17 ac
Current owner
From public records · entity-resolved
Jjr Properties LLC
Entity
Mailing address
1155 S TELSHOR BLVD, LAS CRUCES, NM 88011-1009
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 3, 2020
—
Jjr Properties LLC
Winroc Circle 2003 LLC
Special Warranty Deed
$622,500 · Regions Bank
Jul 22, 2016
—
Glen P Porter
Porter Glen P Living Trust
Quit Claim Deed
related
—
Jul 21, 2016
—
Winroc Circle 2003 LLC
Odonnell,michael
Warranty Deed
—
Aug 30, 2012
—
Michael A O'donnell
Picacho Valley Group LLC
Grant Deed
—
May 15, 2009
—
Michael A O'donnell
Picacho Valley Group LLC
Grant 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.
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