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    390 Rea Blvd Las Cruces, NM 88007
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    Property profile & analytics

    390 Rea Blvd Las Cruces, NM 88007

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    • Warehouses
    • 66,000 SF
    • 10.00 lot acres
    For Sale
    $3,740,000
    View Listing →
    Refrigerated Warehouse Space Available For Sale
    $3,740,000
    77,075 SF

    Refrigerated Warehouse Space Available

    77,075 SF refrigerated warehouse near I-10 in Las Cruces.

    390 Rea Boulevard, Las Cruces, NM 88007
    View Listing
    Property ID
    US61-0167630
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Warehouses

    Property Details for 390 Rea Blvd

    Year built
    2002
    Lot size
    10.00 lot acres
    Property size
    66,000 SF
    Zone code
    REMOTE-MESA
    Property type
    Warehouses
    APN
    3-003-138-175-312
    APU
    3003138175312

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $3,165,000
      Market price range: $1.75M - $3.93M

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $2,680,000
      Current use
      APARTMENT HOUSE (5+ UNITS)
      $5,655,000
      Change: +111% Conversion: Difficult
      OFFICE BUILDING
      $5,510,000
      Change: +105% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $5,300,000
      Change: +98% Conversion: Difficult
      INDUSTRIAL (GENERAL)
      $4,745,000
      Change: +77% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Las Cruces
    County
    Dona Ana
    State
    New Mexico
    Longitude
    -106.928
    Latitude
    32.2626
    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
    $51,533
    $66,667
    $1,444,483
    $1,511,150
    -
    $200,000
    $4,333,448
    $4,533,448

    Comparable in this City

    • Value Estimation by Request
      2,400 SF

      845 Western Ct

      WAREHOUSE, STORAGE • 2,400 SF
      845 Western Ct, Las Cruces, NM 88007-4867
      View Details
    • Value Estimation by Request

      8861 Trigg Loop

      Distribution properties
      8861 Trigg Loop, Las Cruces, NM 88007
      View Details
    • Value Estimation
      $630,000
      25,000 SF

      4581 Picacho Ave, Unit 1-4

      WAREHOUSE, STORAGE • 25,000 SF
      4581 Picacho Ave, Las Cruces, NM 88007-4823
      View Details
    • Value Estimation by Request
      3,840 SF

      7950 Market Pl

      MINI-WAREHOUSE, STORAGE • 3,840 SF
      7950 Market Pl, Las Cruces, NM 88007-9019
      View Details
    • Value Estimation by Request
      6,848 SF

      770 Palms

      WAREHOUSE, STORAGE • 6,848 SF
      770 Palms, Las Cruces, NM 88007-8146
      View Details
    • Value Estimation by Request
      1,260 SF

      3621 Picacho Ave

      WAREHOUSE, STORAGE • 1,260 SF
      3621 Picacho Ave, Las Cruces, NM 88007-4726
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      77,075 SF

      Refrigerated Warehouse Space Available

      77,075 SF refrigerated warehouse near I-10 in Las Cruces.
      390 Rea Blvd, Las Cruces, NM 88007
      View Details
    • Contact for pricing

      Established Pecan Orchard with Residence

      9.52-acre pecan orchard featuring a residence and shop.
      201 Squirrel Rd, Las Cruces, NM 88007
      View Details
    • $500,000
      10.97 Acres

      Vacant Land in Las Cruces

      10.97 acres of vacant land for residential development.
      3505 Bales Rd, Las Cruces, NM 88007
      View Details
    • $87,000
      0.89 Acres

      Picacho Mountain View Homesite

      Exceptional lot with valley, city, and mountain views.
      1333 Saltillo Pl, Las Cruces, NM 88007
      View Details
    • Contact for pricing

      36 Acres Land For Sale

      36 acres of land with frontage on Fort Selden.
      1201 Fort Selden Rd, Las Cruces, NM 88007
      View Details
    • Contact for pricing

      Vacant Land in West Las Cruces

      Vacant land available in west Las Cruces, ranging from 0.5-4 acres.
      3400 W Picacho Ave, Las Cruces, NM 88007
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      4,533 SF

      Flexible Office and Industrial Space

      Unique property with office, lab, and industrial space available for lease.
      2450 Lakeside Dr, Las Cruces, NM 88007
      View Details
    • Contact for pricing

      Land with High Visibility

      5 acres of land with multiple permitted uses.
      Dusty Prints Rd, Las Cruces, NM 88007
      View Details
    View Listing
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    Las Cruces, NM 88007
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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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    390 Rea Blvd, Las Cruces, NM, 88007
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