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

    3401 Del Rey Blvd Las Cruces, NM 88012-8041

    • Office Properties & Spaces
    • 12,524 SF
    • 4.40 lot acres
    OFF-MARKET
    Value Estimations
    $1,545,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US61-0751841
    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

    • VA MEDICAL CENTER / Reproductive Health Clinic
    • Las Cruces VA Clinic / Medical Clinic / Veterans Hospital
    • va / Medical Clinic
    • Veterns Affairs CBOC Clinic, Las Cruces, NM / Doctor
    • Prudence Hofmann / Pharmacy

    Property Details for 3401 Del Rey Blvd

    Year built
    2017
    Lot size
    4.40 lot acres
    Property size
    12,524 SF
    Zone code
    HI-RES-OFFIC
    Property type
    Office Properties & Spaces
    APN
    4-007-132-492-135
    APU
    4007132492135

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,850,000
      6.5%
      $1,710,000
      7%
      $1,585,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,385,000
      Market price range: $608k - $1.48M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $1,005,000
      Current use
      AUTO REPAIR, GARAGE
      $1,480,000
      Change: +47% Conversion: Difficult
      RESTAURANT
      $1,465,000
      Change: +46% Conversion: Difficult
      OFFICE BUILDING
      $1,420,000
      Change: +41% Conversion: Easy
      INDUSTRIAL (GENERAL)
      $1,090,000
      Change: +8% Conversion: Moderate
      APARTMENT HOUSE (5+ UNITS)
      $1,075,000
      Change: +7% Conversion: Moderate
      RETAIL STORES
      $1,020,000
      Change: +1% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Las Cruces
    County
    Dona Ana
    State
    New Mexico
    Longitude
    -106.77
    Latitude
    32.3554
    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
    $28,173
    $176,000
    $650,146
    $826,146
    -
    $528,000
    $1,950,439
    $2,478,439

    Comparable in this City

    • Value Estimation by Request
      11.14 Acres

      1430 Thorpe Rd

      Manufacturing properties • 11.14 Acres
      1430 Thorpe Rd, Las Cruces, NM 88012
      View Details
    • Value Estimation
      $1,425,000
      38,670 SF

      3751 Del Rey Blvd

      OFFICE (GENERAL) • 38,670 SF
      3751 Del Rey Blvd, Las Cruces, NM 88012-7710
      View Details
    • Value Estimation by Request
      800 SF

      3495 Bataan Memorial W

      OFFICE BUILDING • 800 SF
      3495 Bataan Memorial W, Las Cruces, NM 88012-5012
      View Details
    • Value Estimation by Request
      3,064 SF

      9575 Bataan Memorial W

      OFFICE BUILDING • 3,064 SF
      9575 Bataan Memorial W, Las Cruces, NM 88012-5002
      View Details
    • Value Estimation
      $810,000
      5,049 SF

      3190 Del Rey Blvd

      OFFICE BUILDING • 5,049 SF
      3190 Del Rey Blvd, Las Cruces, NM 88012-8366
      View Details
    • Value Estimation by Request
      2,008 SF

      1512 Tecolote Trl

      OFFICE BUILDING • 2,008 SF
      1512 Tecolote Trl, Las Cruces, NM 88012-9726
      View Details

    Similar Nearby for Sale

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      4.04 acre lot zoned for house or mobile home.
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      40 acres in Las Cruces, bordering state land.
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      5-acre land parcel in gated community with mountain views.
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    Similar Nearby for Lease

    • $3,000 /Mo
      134,600 SF

      Las Cruces Commercial Land

      3-acre commercial land with flexible use in Las Cruces.
      1430 E Thorpe Rd, Las Cruces, NM 88012
      View Details
    • Contact for pricing

      Highway 70 Development Land

      7.5 acre commercial land parcel in Wal-Mart anchored development.
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    • $900 /Mo
      10,890 SF

      Las Cruces Commercial Flex Space

      Flex space with storage in secure, gated Las Cruces location.
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    • $27 SF/Yr
      1,719 SF

      Retail Space Near Walmart

      Retail suites available in strip center anchored by Walmart.
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    • $18 SF/Yr
      3,332 SF

      Retail Space with Highway Frontage

      Retail location with high traffic and signage opportunities.
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      View Details
    • $3,020,796

      Land Near Community College Campus

      Land available for ground lease or build to suit.
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      View Details
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    3401 Del Rey Blvd
    Las Cruces, NM 88012-8041
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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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