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Property profile & analytics
OFF-MARKET
Estimated value
$1,240,000
Hotels
2350 Griggs Ave Las Cruces, NM 88001-2641
Entity Owned
18-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US61-0203049
Property profile
Verified
Property type
Hotels
Use group
HOTEL
Year built
2007
Construction
FRAME
Total area
43,693 SF
Lot
1.95 ac (84,942 SF)
Zoning code
LT-MANUFACTR
APN
4-009-134-044-461
UPID
US61-0203049
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
-
Hampton Inn & Suites Las Cruces I-25 Hotel & Motel
-
UNITY LAS CRUCES Church Mosque
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$830k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.65M
Blend (final)
Blend
$1.24M
Owner & transaction history
Premier Hospitality II LLC · 18 yrs held
Premier Hospitality II LLC
since 2007
5 recorded transactions
Zoning & alternative use
LT-MANUFACTR · Las Cruces, NM
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
$830,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$1.24M
Range $1.12M – $1.36M · ±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
$28 / 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
$15,552
Tax year 2023
Assessed value
$456,047
Assessed 2023
Previous assessed
$412,727
+10.5% YoY
Effective rate
3.41%
On assessed value
Assessed land
$169,884
Assessed improvement
$286,163
Land market value
$509,652
Improvement market value
$858,488
Total market value
$1,368,140
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
Hotels
Use group
HOTEL
Status
Off-Market
Year built
2007
Construction
FRAME
Heating
NONE
Total area
43,693 SF
Lot
1.95 ac (84,942 SF)
Zoning code
LT-MANUFACTR
APN
4-009-134-044-461
UPID
US61-0203049
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.
Building & site characteristics
From public records
Year built
2007
Construction
FRAME
Heating
NONE
Lot
1.95 ac
Current owner
From public records · entity-resolved
Premier Hospitality II LLC
Entity
Mailing address
8300 CARMEL AVE NE STE #402, ALBUQUERQUE, NM 87122-3147
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2007
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
Mar 14, 2024
—
Premier Hospitality II LLC
—
Deed
related
$500,000 · Citizens Bank Of Las Cruces
Apr 22, 2022
—
Premier Hospitality II LLC
—
Deed
related
$3,500,000 · Citizens Bank Of Las Cruces
Oct 10, 2007
—
Premier Hospitality II LLC
Natesa Investments LLC
Warranty Deed
related
—
—
—
Premier Hospitality II LLC
—
Loan Modification
related
$4,760,855 · First American Bank
—
—
Premier Hospitality II LLC
—
Deed Of Trust
related
$400,000 · First American Bank
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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