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    2489 N Main St Las Cruces, NM 88001

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    2489 N Main St Las Cruces, NM 88001

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    • Outlet malls
    • 11,928 SF
    • 0.62 lot acres
    For Lease
    $12 SF/Yr
    View Listing →
    Prime Retail Space Available For Lease
    $12 SF/Yr
    12,000 SF

    Prime Retail Space Available

    High-visibility retail space in a strong commercial corridor.

    2489 N Main St, Las Cruces, NM
    View Listing
    Property ID
    US61-0241813
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Southwest Distributing Co / Grocery & Convenience Store / Distribution Center
    • Shamrock Foodservice Warehouse Las Cruces / Big Box & Wholesale Store
    • Shamrock Foods Co / Big Box & Wholesale Store
    • Loans / Loan Service

    Property Details for 2489 N Main St

    Year built
    1960
    Lot size
    0.62 lot acres
    Property size
    11,928 SF
    Zone code
    GEN-COMMERCL
    Property type
    Outlet malls
    Property subtype
    Shopping centers
    APN
    4-007-133-044-490
    APU
    4007133044490

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Las Cruces
    County
    Dona Ana
    State
    New Mexico
    Longitude
    -106.784
    Latitude
    32.3311
    CBSA code
    29740
    CBSA name
    LAS CRUCES, NM METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $5,344
    $45,012
    $111,697
    $156,709
    -
    $135,035
    $335,090
    $470,125

    Comparable in this City

    • Value Estimation
      $7,055,000
      100,145 SF

      2350 Lohman Ave

      WHOLESALE OUTLET, DISCOUNT STORE • 100,145 SF
      2350 Lohman Ave, Las Cruces, NM 88001-8407
      View Details
    • Value Estimation
      $640,000
      7,815 SF

      1690 Solano Dr

      WHOLESALE OUTLET, DISCOUNT STORE • 7,815 SF
      1690 Solano Dr, Las Cruces, NM 88001-5407
      View Details
    • Value Estimation
      $1,005,000
      8,520 SF

      1450 Solano Dr

      WHOLESALE OUTLET, DISCOUNT STORE • 8,520 SF
      1450 Solano Dr, Las Cruces, NM 88001-1894
      View Details
    • Value Estimation by Request
      1,830 SF

      545 Solano Dr

      WHOLESALE OUTLET, DISCOUNT STORE • 1,830 SF
      545 Solano Dr, Las Cruces, NM 88001-3240
      View Details
    • Value Estimation by Request
      4,900 SF

      2255 Lohman Ave

      WHOLESALE OUTLET, DISCOUNT STORE • 4,900 SF
      2255 Lohman Ave, Las Cruces, NM 88001-8491
      View Details
    • Value Estimation
      $1,875,000
      14,392 SF

      2300 Lohman Ave

      WHOLESALE OUTLET, DISCOUNT STORE • 14,392 SF
      2300 Lohman Ave, Las Cruces, NM 88001-8492
      View Details

    Similar Nearby for Sale

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      1,971 SF

      Established Restaurant Business For Sale

      Turnkey restaurant opportunity with real estate and equipment included.
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      Established Restaurant Business For Sale

      Profitable restaurant with real estate, equipment included in sale.
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      Las Cruces Retail Investment Property

      Retail property in Las Cruces with high visibility and accessibility.
      1100 N Main St, Las Cruces, NM 88001
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    • $120,000
      0.22 Acres

      Las Cruces Commercial Opportunity

      Commercial property near downtown Las Cruces, ideal for retail or office.
      2165 Chiquita St, Las Cruces, NM 88001
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    • $399,000
      2,227 SF

      High-Traffic Commercial Property, Las Cruces

      Prominent corner lot ideal for retail or office use.
      1590 E Lohman Ave, Las Cruces, NM 88001
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    • $3,610,408
      22,991 SF

      Retail Building in Las Cruces

      Freestanding retail building in a high-traffic location.
      2350 E Lohman Ave, Las Cruces, NM 88001
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      5,000 SF

      Retail Center with Grocery Anchor

      Retail center anchored by grocery store and junior co-tenants.
      1215 El Paseo Rd, Las Cruces, NM 88001
      View Details
    • Contact for pricing

      Retail Space Near Interstate 25

      Retail opportunity with high visibility near I-25 and Main.
      I-25 & Main St, Las Cruces, NM 88001
      View Details
    • Contact for pricing
      1,506 SF

      Retail Center Space For Rent

      Grocery anchored retail center in high traffic area.
      1253 El Paseo Rd, Las Cruces, NM 88001
      View Details
    • Contact for pricing
      8,025 SF

      Retail Space Near NMSU

      Retail space with access to high-income demographics and student population.
      2205-2265 S Main St, Las Cruces, NM 88001
      View Details
    • Contact for pricing
      2,700 SF

      Retail Space with Office Area

      Retail space featuring an office area and bathroom with shower.
      1021 E Amador Ave, Las Cruces, NM 88001
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    • Contact for pricing
      10,492 SF

      Retail Spaces on Missouri Avenue

      Retail spaces available in high-traffic area near university.
      1404-1480 Missouri Ave, Las Cruces, NM 88001
      View Details
    View Listing
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    2489 N Main St
    Las Cruces, NM 88001
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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