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Property profile & analytics
OFF-MARKET
Estimated value
$1,065,000
Warehouses
311 Southgate Ct, Las Cruces, NM 88005-3802
Entity Owned
~
Est. High Equity
Property ID
US61-0318120
Property summary
AI-generated overview
This exceptional industrial flex property, located at 311 Southgate Ct in Las Cruces, New Mexico, presents a compelling investment opportunity. The ±18,926 square foot building sits on a ±1.68-acre lot and boasts a 2008 construction date. The property features impressive ceiling heights ranging from 16 to 22 feet, providing ample vertical space for various uses. Climate control is ensured with refrigerated air throughout the building, powered by six 8-ton units. The property is zoned M1, offering flexibility for a range of industrial and commercial applications. Its strategic location offers convenient access to Interstate 10, situated approximately 1.5 miles away. Currently, 50% of the space is leased through November 2026, providing immediate income potential. The asking price for this well-maintained and strategically located property is $2,000,000. This represents a significant opportunity to acquire a substantial industrial flex space in a growing New Mexico market with existing lease income. The property's size, features, and location make it ideal for a variety of businesses seeking a functional and well-equipped space in Doña Ana County, zip code 88005.
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2008
Total area
16,204 SF
Lot
1.36 ac (59,285 SF)
Zoning code
LT-MANUFACTR
APN
4-005-136-437-107
UPID
US61-0318120
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
-
Marhefka Medical Group Medical Group
-
Tom's Pest Control Service Garden Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.06M
Blend (final)
Blend
$1.07M
Owner & transaction history
Shar-i LP
Shar-i LP
1 recorded transaction
Zoning & alternative use
LT-MANUFACTR · Las Cruces, NM
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$1.8M
+126.8%
Restaurant
$1.7M
+115.6%
Apartment house (5+ units)
$1.4M
+79.7%
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
WAREHOUSE, STORAGE
$770,000
Current use
OFFICE BUILDING
$1,750,000
Change: +127% · Conversion: Difficult
RESTAURANT
$1,665,000
Change: +116% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$1,390,000
Change: +80% · Conversion: Difficult
RETAIL STORES
$1,310,000
Change: +70% · Conversion: Moderate
INDUSTRIAL (GENERAL)
$1,055,000
Change: +37% · Conversion: Easy
Blend value · Realmo final
$1.07M
Range $959k – $1.17M · ±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
$66 / 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
$11,733
Tax year 2023
Assessed value
$344,067
Assessed 2023
Previous assessed
$344,067
+0.0% YoY
Effective rate
3.41%
On assessed value
Assessed land
$88,933
Assessed improvement
$255,134
Land market value
$266,800
Improvement market value
$765,402
Total market value
$1,032,202
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
2008
Heating
NONE
Total area
16,204 SF
Lot
1.36 ac (59,285 SF)
Zoning code
LT-MANUFACTR
APN
4-005-136-437-107
UPID
US61-0318120
Jurisdiction
DONA ANA
Zoning & alternative use
LT-MANUFACTR · Las Cruces, NM
Zoning LT-MANUFACTR · permitted uses
LT-MANUFACTR · 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
WAREHOUSE, STORAGE Current
Est. value
$770,000
OFFICE BUILDING
Est. value
$1.8M
RESTAURANT
Est. value
$1.7M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.4M
RETAIL STORES
Est. value
$1.3M
INDUSTRIAL (GENERAL)
Est. value
$1.1M
WAREHOUSE, STORAGE Current
OFFICE BUILDING
RESTAURANT
APARTMENT HOUSE (5+ UNITS)
RETAIL STORES
INDUSTRIAL (GENERAL)
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
2008
Heating
NONE
Lot
1.36 ac
Current owner
From public records · entity-resolved
Shar-i LP
Entity
Mailing address
311 E VICKERY BLVD, FORT WORTH, TX 76104-1352
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
—
—
Shar-i LP
—
Deed Of Trust
related
$10,864,948 · Plains Capital Bank
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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