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300 Foster Rd Las Cruces, NM 88005-3211

OFF-MARKET Parking lots & garages Google Maps
1.61 ac lot
Individually Owned 17-yr Hold Absentee Owner Free & Clear
Estimated value (blended)
$270k
Range $243k – $297k (±10%)
Property ID US61-1632650

Property summary

AI-generated overview

This exceptional 7,367 square foot office building presents a compelling investment opportunity in the heart of Las Cruces, New Mexico. Built in 1980 and renovated in 1990, the property sits on a 3.05-acre lot and is zoned C-2, allowing for a variety of uses. Currently vacant, the building features a convenient drive-through and ample parking, making it ideal for a financial institution or professional office space. Its excellent condition and prime location offer significant potential for future growth and profitability. Situated in a vibrant area with a mix of businesses and leisure options, the property benefits from proximity to New Mexico State University, providing access to a skilled workforce. The surrounding area boasts diverse dining, cultural attractions, and shopping, creating a desirable environment for employees and clients alike. The asking price for this well-maintained, strategically located office building is $1,650,000. This is a rare opportunity to acquire a substantial commercial property in a thriving New Mexico market. The address is 300 Foster Rd, Las Cruces, NM 88005.

Property profile

Verified
Property type Parking lots & garages
Use group PARKING GARAGE, PARKING STRUCTURE
Lot 1.61 ac (70,132 SF)
Zoning code GEN-COMMERCL
APN 4-007-136-349-190
UPID US61-1632650

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Credit Union

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$270k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$270k

Owner & transaction history

since 2008
1 recorded transaction
2008
Price N/A

Zoning & alternative use

GEN-COMMERCL · Las Cruces, NM

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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