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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2802 Corte Diosa-d Las Cruces, NM 88011-8140

    • Residential income homes
    • 5,488 SF
    • 4.00 lot acres
    OFF-MARKET
    Last Sale
    Dec 19, 2023
    Value Estimations
    $525,000
    Show details
    Cap Rate Potential
    8%
    Residential income homes
    Location Intelligence
    Property ID
    US61-0883919
    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.

    Current Use by Public Records

    • Residential income homes

    Property Details for 2802 Corte Diosa-d

    Year built
    2012
    Construction
    FRAME
    Lot size
    4.00 lot acres
    Property size
    5,488 SF
    Zone code
    PLAN-UNT-DEV
    Property type
    Residential income homes
    Property subtype
    Serviced apartments
    APN
    4-009-132-264-209
    APU
    4009132264209

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $415,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $555,000
      6.5%
      $510,000
      7%
      $475,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $646,000
      Market price range: $299k - $646k

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $470,000
      Current use
      AUTO REPAIR, GARAGE
      $650,000
      Change: +38% Conversion: Difficult
      RESTAURANT
      $580,000
      Change: +23% Conversion: Difficult
      OFFICE BUILDING
      $580,000
      Change: +23% Conversion: Moderate
      INDUSTRIAL (GENERAL)
      $480,000
      Change: +2% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $415,000
      Change: -12% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Las Cruces
    County
    Dona Ana
    State
    New Mexico
    Longitude
    -106.743
    Latitude
    32.3534
    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
    $32,004
    $173,333
    $765,151
    $938,484
    -
    $520,000
    $2,295,453
    $2,815,453

    Comparable in this City

    • Value Estimation by Request
      1,884 SF

      715 Athenian Way, Unit A

      BOARDING/ROOMING HOUSE • 1,884 SF
      715 Athenian Way, Las Cruces, NM 88011-3643
      View Details
    • Value Estimation
      $3,000,000
      34,544 SF

      2969 Claude Dove Dr

      BOARDING/ROOMING HOUSE • 34,544 SF
      2969 Claude Dove Dr, Las Cruces, NM 88011-4865
      View Details
    • Value Estimation by Request
      3,710 SF

      2720 Fairway Dr

      BOARDING/ROOMING HOUSE • 3,710 SF
      2720 Fairway Dr, Las Cruces, NM 88011-9100
      View Details
    • Value Estimation
      $8,865,000
      171,770 SF

      2884 Roadrunner Pkwy

      BOARDING/ROOMING HOUSE • 171,770 SF
      2884 Roadrunner Pkwy, Las Cruces, NM 88011-0853
      View Details
    • Value Estimation by Request
      3,710 SF

      2640 Fairway Dr

      BOARDING/ROOMING HOUSE • 3,710 SF
      2640 Fairway Dr, Las Cruces, NM 88011-9114
      View Details
    • Value Estimation by Request
      3,248 SF

      716 Hellenic Dr

      BOARDING/ROOMING HOUSE • 3,248 SF
      716 Hellenic Dr, Las Cruces, NM 88011-3638
      View Details

    Similar Nearby for Sale

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      Las Cruces Commercial Land - 5 Acres

      Prime 5-acre commercial lot, ideal development.
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      Industrial land with freeway frontage and development potential.
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    Similar Nearby for Lease

    • $30 SF/Yr
      1,416 SF

      New Retail Space Available

      New construction retail spaces for lease in active area.
      4160 Northrise Dr, Las Cruces, NM 88011
      View Details
    • $28 SF/Yr
      1,200 SF

      Retail Space on Lohman Avenue

      Retail space available in a high-traffic shopping center.
      3835 E Lohman Ave, Las Cruces, NM 88011
      View Details
    • $14 SF/Yr
      1,175 SF

      Retail Space For Lease

      1,175 Sq. Ft. retail space available for lease.
      1770 S Telshor Blvd, Las Cruces, NM 88011
      View Details
    • Contact for pricing
      2,204 SF

      Retail Space on Sonoma Ranch

      Retail space with excellent visibility on a major thoroughfare.
      4420 N Sonoma Ranch Blvd, Las Cruces, NM 88011
      View Details
    • $2,200 /Mo
      1,400 SF

      High-Traffic Retail/Office Space Available

      Retail or office space with high visibility and traffic.
      518 Telshor Blvd, Las Cruces, NM 88011
      View Details
    • $25 SF/Yr
      9,200 SF

      Sonoma Ranch Office Space

      9,200 SF office space available for lease.
      4104 Sonoma Ranch Blvd, Las Cruces, NM 88011
      View Details
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    Las Cruces, NM 88011-8140
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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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