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Property profile & analytics
OFF-MARKET
Estimated value
$1,025,000
Retail space
300 Main St, Las Cruces, NM 88001-1273
Entity Owned
Free & Clear
Property ID
US61-0189094
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1975
Total area
13,134 SF
Lot
0.28 ac (12,137 SF)
Zoning code
CBD
APN
4-007-135-218-153
UPID
US61-0189094
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
-
MEW AND COMPANY Clothing & Fashion Store
-
Xclusive Studio Barbershop Barber Shop
-
Petal & Pink Co. (Bike/Boat/Book/etc) Store Florist
-
Permanent Legacy, Permanent Jewelry (Bike/Boat/Book/etc) Store
-
Raven Art Studio and gallery Art Studio
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.07M
Blend (final)
Blend
$1.03M
Owner & transaction history
Spirit Downtown LLC
Spirit Downtown LLC
since 2025
5 recorded transactions
Zoning & alternative use
CBD · Las Cruces, NM
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$1.7M
+44.9%
Auto repair, garage
$1.6M
+31.6%
Industrial (general)
$1.5M
+28.4%
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
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$1,180,000
Current use
OFFICE BUILDING
$1,705,000
Change: +45% · Conversion: Easy
AUTO REPAIR, GARAGE
$1,550,000
Change: +32% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$1,515,000
Change: +28% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,140,000
Change: -3% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$1,095,000
Change: -7% · Conversion: Difficult
WAREHOUSE, STORAGE
$965,000
Change: -18% · Conversion: Difficult
Blend value · Realmo final
$1.03M
Range $923k – $1.13M · ±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
$78 / 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
$9,936
Tax year 2023
Assessed value
$291,353
Assessed 2023
Previous assessed
$291,353
+0.0% YoY
Effective rate
3.41%
On assessed value
Assessed land
$14,160
Assessed improvement
$277,193
Land market value
$42,480
Improvement market value
$831,580
Total market value
$874,060
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1975
Heating
NONE
Buildings
2
Total area
13,134 SF
Lot
0.28 ac (12,137 SF)
Zoning code
CBD
APN
4-007-135-218-153
UPID
US61-0189094
Jurisdiction
DONA ANA
Zoning & alternative use
CBD · Las Cruces, NM
Zoning CBD · permitted uses
CBD · 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
RETAIL STORES Current
Est. value
$1.2M
OFFICE BUILDING
Est. value
$1.7M
AUTO REPAIR, GARAGE
Est. value
$1.6M
INDUSTRIAL (GENERAL)
Est. value
$1.5M
COMMERCIAL (GENERAL)
Est. value
$1.1M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.1M
WAREHOUSE, STORAGE
Est. value
$965,000
RETAIL STORES Current
OFFICE BUILDING
AUTO REPAIR, GARAGE
INDUSTRIAL (GENERAL)
COMMERCIAL (GENERAL)
APARTMENT HOUSE (5+ UNITS)
WAREHOUSE, STORAGE
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
1975
Heating
NONE
Buildings
2
Lot
0.28 ac
Current owner
From public records · entity-resolved
Spirit Downtown LLC
Entity
Free & Clear · 0 yrs held
Mailing address
530 W CT AVE, LAS CRUCES, NM 88005-2528
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 5, 2025
—
Spirit Downtown LLC
Anthony Espiritu
Warranty Deed
—
Jun 30, 2025
—
Spirit Downtown LLC
Anthony Espiritu
Warranty Deed
$1,680,000 · Velocity Commercial Capital LLC
Apr 4, 2022
—
Nuestra Tierra
Southwest Environmental Center
Quitclaim Deed
related
—
Jan 10, 2022
—
Sandra Espiritu
—
Deed
related
$165,000 · Jason Smith Etal
Dec 30, 2021
—
Anthony Espiritu
C B Smith & Sons INC
Warranty Deed
$935,000 · High Desert Capital LLC
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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