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Property profile & analytics
OFF-MARKET
Estimated value
$505,000
Strip malls
2404 Locust St Las Cruces, NM 88001-5789
Entity Owned
21-yr Hold
~
Est. High Equity
Property ID
US61-0015041
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1989
Construction
FRAME
Total area
11,691 SF
Lot
1 ac (43,456 SF)
Zoning code
HI-DENS-RES
APN
4-009-136-079-470
UPID
US61-0015041
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
-
Bybee Ronald F Physician
-
Ann M. Jaquess, PT Physician
-
Bybee Ryan Physician
-
Elizabeth Espinoza-Melano, PT Physician
-
Baumann Harri Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$365k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$648k
Blend (final)
Blend
$505k
Owner & transaction history
Jlb Ents LLC · 21 yrs held
Jlb Ents LLC
since 2004
7 recorded transactions
Zoning & alternative use
HI-DENS-RES · Las Cruces, NM
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
$365,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$560,000
Current use
Blend value · Realmo final
$505k
Range $455k – $556k · ±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
$43 / 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
$10,271
Tax year 2023
Assessed value
$301,192
Assessed 2023
Previous assessed
$301,192
+0.0% YoY
Effective rate
3.41%
On assessed value
Assessed land
$57,933
Assessed improvement
$243,259
Land market value
$173,800
Improvement market value
$729,776
Total market value
$903,576
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1989
Construction
FRAME
Heating
NONE
Total area
11,691 SF
Lot
1 ac (43,456 SF)
Zoning code
HI-DENS-RES
APN
4-009-136-079-470
UPID
US61-0015041
Jurisdiction
DONA ANA
Zoning & alternative use
HI-DENS-RES · Las Cruces, NMZoning HI-DENS-RES · permitted uses
HI-DENS-RES · 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
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$560,000
NEIGHBORHOOD: SHOPPING CENTER Current
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
1989
Construction
FRAME
Heating
NONE
Lot
1 ac
Current owner
From public records · entity-resolved
Jlb Ents LLC
Entity
Mailing address
1212 CALLE DE EL PASO, LAS CRUCES, NM 88005-3921
Ownership since
2004
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
12 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 2, 2019
—
Jlb Enterprises LLC
—
Deed
related
$50,000 · First American Bank
Jun 5, 2018
—
Jlb Ents LLC
—
Deed
related
$565,080 · First American Bk
Apr 2, 2018
—
Jlb Ents LLC
—
Deed
related
$561,000 · Enchantment Land Certified Dev
Feb 7, 2018
—
Jlb Enterprises LLC
—
Deed
related
$1,111,187 · First American Bank
Aug 31, 2004
—
Jlb Ents LLC
University Plaza LLC
Warranty Deed
$780,000 · Citizens Bk/las Cruces
—
—
Jlb Ents LLC
—
Deed Of Trust
related
$1,024,000 · First National Bank
—
—
Jlb Ents LLC
—
Deed Of Trust
related
—
—
—
Jlb Ents LLC
—
Deed Of Trust
related
$60,000 · First American Bank
—
—
Jlb Ents LLC
—
Deed Of Trust
related
$561,000 · Enchantment Land Certified Dev
—
—
Jlb Ents LLC
—
Deed Of Trust
related
$561,000 · Enchantment Land Certified Dev
—
—
Jlb Ents LLC
—
Loan Modification
related
$565,080 · First American Bk
—
—
Jlb Ents LLC
—
Deed Of Trust
related
$199,000 · 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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