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Property profile & analytics
OFF-MARKET
Estimated value
$940,000
Medical Office Space
2351 Indian Wls Rd Alamogordo, NM 88310-4607
Entity Owned
9-yr Hold
Free & Clear
Property ID
US61-0462931
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2010
Total area
10,866 SF
Lot
3.59 ac (156,380 SF)
APN
01N4057093067130
UPID
US61-0462931
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$575k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.30M
Blend (final)
Blend
$940k
Owner & transaction history
Indian Wells Properties LLC · 9 yrs held
Indian Wells Properties LLC
since 2016
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$1.4M
+45.9%
Restaurant
$1.3M
+40.2%
Auto repair, garage
$1.1M
+16.7%
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 Alamogordo submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Alamogordo 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
$575,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$930,000
Current use
OFFICE BUILDING
$1,355,000
Change: +46% · Conversion: Easy
RESTAURANT
$1,300,000
Change: +40% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,080,000
Change: +17% · Conversion: Difficult
RETAIL STORES
$1,000,000
Change: +8% · Conversion: Difficult
WAREHOUSE, STORAGE
$780,000
Change: -16% · Conversion: Difficult
Blend value · Realmo final
$940k
Range $846k – $1.03M · ±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
$87 / 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
$22,082
Tax year 2023
Assessed value
$733,013
Assessed 2024
Previous assessed
$733,013
+0.0% YoY
Effective rate
3.01%
On assessed value
Assessed land
$74,667
Assessed improvement
$658,346
Land market value
$224,000
Improvement market value
$1,975,037
Total market value
$2,199,037
Applied tax rate
1.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
2010
Heating
FORCED AIR
Cooling
REFRIGERATOR
Stories
2
Total area
10,866 SF
Lot
3.59 ac (156,380 SF)
APN
01N4057093067130
UPID
US61-0462931
Jurisdiction
OTERO
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$930,000
OFFICE BUILDING
Est. value
$1.4M
RESTAURANT
Est. value
$1.3M
AUTO REPAIR, GARAGE
Est. value
$1.1M
RETAIL STORES
Est. value
$1.0M
WAREHOUSE, STORAGE
Est. value
$780,000
MEDICAL BUILDING Current
OFFICE BUILDING
RESTAURANT
AUTO REPAIR, GARAGE
RETAIL STORES
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
2010
Heating
FORCED AIR
Cooling
Yes
Stories
2
Lot
3.59 ac
Current owner
From public records · entity-resolved
Indian Wells Properties LLC
Entity
Free & Clear · 9 yrs held
Mailing address
PO BOX 1749, ALAMOGORDO, NM 88311-1749
Ownership since
2016
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
Jul 25, 2016
—
Indian Wells Properties LLC
Pattillo Properties LLC
Warranty Deed
—
Oct 29, 2015
—
Wal-mart Stores East LP
Pattillo Properties LLC
Warranty Deed
related
—
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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