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Property profile & analytics
OFF-MARKET
Estimated value
$850,000
Office buildings
2455 Missouri Ave Las Cruces, NM 88001-5122
Individually Owned
2-yr Hold
~
Est. High Equity
Property ID
US61-0610257
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2000
Total area
10,821 SF
Lot
1.14 ac (49,526 SF)
Zoning code
GEN-COMMERCL
APN
4-009-136-249-083
UPID
US61-0610257
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
-
Ania Parco Physician
-
Don W. Hume, Ph.D., Inc. Physician Medical Clinic
-
Hector Lerma Physician
-
Deborah Thorne, DMSc, MS, BA-Kines, PA-C Medical Clinic
-
Medicina Del Sol Integrative Healthcare Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$850k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$850k
Owner & transaction history
Calvin P Ray · 2 yrs held
Calvin P Ray
since 2024
Last sale
$850,000
7 recorded transactions
Zoning & alternative use
GEN-COMMERCL · 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
$850,000
ML approach
$850,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,405,000
Current use
AUTO REPAIR, GARAGE
$1,275,000
Change: -9% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$1,245,000
Change: -11% · Conversion: Difficult
Blend value · Realmo final
$850k
Range $765k – $935k · ±10% · vs last sale $850k (Jun 14 2024)
Last sale anchor
$850k
Jun 14 2024
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
$79 / 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
$15,486
Tax year 2023
Assessed value
$454,110
Assessed 2023
Previous assessed
$454,110
+0.0% YoY
Effective rate
3.41%
On assessed value
Assessed land
$74,300
Assessed improvement
$379,810
Land market value
$222,900
Improvement market value
$1,139,431
Total market value
$1,362,331
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
2000
Heating
NONE
Buildings
2
Total area
10,821 SF
Lot
1.14 ac (49,526 SF)
Zoning code
GEN-COMMERCL
APN
4-009-136-249-083
UPID
US61-0610257
Jurisdiction
DONA ANA
Zoning & alternative use
GEN-COMMERCL · Las Cruces, NM
Zoning 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
Las Cruces. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$1.4M
AUTO REPAIR, GARAGE
Est. value
$1.3M
INDUSTRIAL (GENERAL)
Est. value
$1.2M
OFFICE BUILDING Current
AUTO REPAIR, GARAGE
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
2000
Heating
NONE
Buildings
2
Lot
1.14 ac
Current owner
From public records · entity-resolved
Calvin P Ray
Individual
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 14, 2024
$850,000
Calvin P Ray
Charitable Remainder Trust
Contract Sale
$775,000 · Not Available
May 13, 2024
—
Calvin P Ray
James Spence
Contract Sale
—
Aug 12, 2022
—
Gluth Properties LLC
James Williams Spence
Warranty Deed
$268,375 · James William Spence Etal
Jun 1, 2022
—
James William Spence
Spence LLC
Intrafamily Transfer
related
—
Feb 8, 2022
—
Spence LLC
Spence LLC
Intrafamily Transfer
related
—
—
—
Spence LLC
—
Deed Of Trust
related
$235,000 · First American Bank
—
—
Spence LLC
—
Deed Of Trust
related
$129,064 · First National 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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