Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    304 Griggs Ave Las Cruces, NM 88005-2603

    • Office buildings
    • 11,189 SF
    • 0.69 lot acres
    OFF-MARKET
    Value Estimations
    $520,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US61-0283639
    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

    • Sasha Scaparotti Nagler LLC / Mental Health Service
    • Amanda Pando / Marriage Or Relationship Counselor

    Property Details for 304 Griggs Ave

    Year built
    1950
    Lot size
    0.69 lot acres
    Property size
    11,189 SF
    Zone code
    CENTRL-BUSNS
    Property type
    Office buildings
    APN
    4-007-135-126-229
    APU
    4007135126229

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $380,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $661,000
      Market price range: $662k - $1.74M

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

    Location Insight

    • Map
    • Local Demand
    City
    Las Cruces
    County
    Dona Ana
    State
    New Mexico
    Longitude
    -106.782
    Latitude
    32.3094
    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
    $3,588
    $30,056
    $75,149
    $105,205
    -
    $90,168
    $225,446
    $315,614

    Comparable in this City

    • Value Estimation by Request
      1,108 SF

      456 Alameda Blvd

      OFFICE BUILDING • 1,108 SF
      456 Alameda Blvd, Las Cruces, NM 88005-2542
      View Details
    • Value Estimation by Request
      918 SF

      339 Alameda Blvd

      OFFICE BUILDING • 918 SF
      339 Alameda Blvd, Las Cruces, NM 88005-2543
      View Details
    • Value Estimation by Request
      2,093 SF

      705 Alameda Blvd

      OFFICE BUILDING • 2,093 SF
      705 Alameda Blvd, Las Cruces, NM 88005-2128
      View Details
    • Value Estimation by Request
      1,934 SF

      835 Armijo St

      OFFICE BUILDING • 1,934 SF
      835 Armijo St, Las Cruces, NM 88005-2116
      View Details
    • Value Estimation by Request
      952 SF

      949 Melendres St

      OFFICE BUILDING • 952 SF
      949 Melendres St, Las Cruces, NM 88005-2931
      View Details
    • Value Estimation by Request
      2,772 SF

      801 Organ Ave

      OFFICE BUILDING • 2,772 SF
      801 Organ Ave, Las Cruces, NM 88005-2702
      View Details

    Similar Nearby for Sale

    • $950,000
      6,000 SF

      Las Cruces Office/Warehouse with Yard

      Office and warehouse space with fenced yard in Las Cruces.
      2261 Copper Loop, Las Cruces, NM 88005
      View Details
    • New
      $260,000
      Pending

      Las Cruces Commercial Property

      Commercial property in high-traffic location with tenants in place.
      2700 Elks Dr, Las Cruces, NM 88005
      View Details
    • Contact for pricing
      63,800 SF

      Mesilla Valley Office Portfolio

      63,800 SF Office Space, Multi-Tenant, NNN Lease
      1630- Hickory Loop, Las Cruces, NM 88005
      View Details
    • $152,500
      3.00 Acres

      Land in Raasaf Hills

      Three-acre lot suitable for custom home development with mountain views.
      3250 Mesilla Hills Dr, Las Cruces, NM 88005
      View Details
    • $89,000
      2.20 Acres

      Land with City Views

      2.2 acres near Highway 70, close to amenities.
      755 Lonesome Rd, Las Cruces, NM 88005
      View Details
    • $720,774

      Land Available For M-1 Users

      Land available for M-1 users with completed engineering design.
      1689 Pioneer Pl, Las Cruces, NM 88005
      View Details

    Similar Nearby for Lease

    • $600 /Mo
      400 SF

      Economical Office/Retail Space Downtown

      Affordable office/retail spaces available in downtown area.
      121 Wyatt Dr, Las Cruces, NM 88005
      View Details
    • Contact for pricing

      Las Cruces Office & Land Opportunity

      Prime Commercial Property, Single Tenant
      410 Valley Dr, Las Cruces, NM 88005
      View Details
    • Contact for pricing
      3,000 SF

      Office Space in Las Cruces

      Office space available for lease in Las Cruces, NM.
      1630-1680 Hickory Loop, Las Cruces, NM 88005
      View Details
    • $14 SF/Yr
      2,076 SF

      Prime Corner Office Space Available

      Office space for rent in the heart of Las Cruces.
      1125 1St St, Las Cruces, NM 88005
      View Details
    • $950,000
      12,000 SF

      Functional Warehouse with Secured Yard

      Functional warehouse with office, dock, fenced yard, climate control.
      400 N 17Th St, Las Cruces, NM 88005
      View Details
    • $6,000 /Mo

      Land Parcel For Lease

      1.8199 acre land parcel for lease or build-to-suit.
      1290 Avenida De Mesilla, Las Cruces, NM 88005
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    304 Griggs Ave
    Las Cruces, NM 88005-2603
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.