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    3985 S Main St Las Cruces, NM 88001

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    3985 S Main St Las Cruces, NM 88001

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    • Retail space
    • 3,000 SF
    • 0.82 lot acres
    For Sale
    $495,000
    View Listing →
    Commercial Building on South Main For Sale
    $495,000
    3,000 SF

    Commercial Building on South Main

    Stand-alone building with C-1 zoning and EBID rights.

    3985 S Main St, Las Cruces, NM 88001
    View Listing
    Property ID
    US61-0353509
    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

    • Retail space

    Property Details for 3985 S Main St

    Year built
    1965
    Lot size
    0.82 lot acres
    Property size
    3,000 SF
    Zone code
    NEIGH-COMMER
    Property type
    Retail space
    APN
    4-008-138-324-320
    APU
    4008138324320

    Description

    This exceptional 3,000 square foot storefront, located at 3985 S Main St in Las Cruces, New Mexico, presents a lucrative investment opportunity. Priced at $495,000 ($165/sq ft), this vacant property boasts a desirable C-1 zoning, allowing for a wide range of retail uses. The single-tenancy building sits on a spacious 0.82-acre lot, offering ample space and potential for expansion or outdoor amenities. The property's strategic location on South Main Street ensures high visibility and accessibility, benefiting from significant foot and vehicle traffic. Adding to its appeal, the lot features mature pecan trees and valuable EBID rights. The area is experiencing growth, with new residential construction nearby, promising a strong customer base for future tenants. This standalone building offers a unique chance to establish a thriving retail business in a vibrant and expanding community. The property's size and zoning make it suitable for a variety of retail concepts, providing flexibility for potential buyers. Don't miss this chance to acquire a prime retail space in a rapidly developing area of Las Cruces. The property is located in Doña Ana County, New Mexico, zip code 88001.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Mesilla Park
    County
    Dona Ana
    State
    New Mexico
    Longitude
    -106.758
    Latitude
    32.2633
    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
    $881
    $16,400
    $17,213
    $33,613
    -
    $49,200
    $51,640
    $100,840

    Comparable in this City

    • Value Estimation by Request
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      8493 Main St, Unit 1

      RETAIL STORES (PERSONAL SERVICES) • 2,196 SF
      8493 Main St, Mesilla Park, NM 88047-9714
      View Details
    • Value Estimation by Request

      3401 Main St

      Office properties & Spaces
      3401 Main St, Las Cruces, NM 88047
      View Details
    • Value Estimation
      $760,000
      9,301 SF

      131 Wonder Ln

      WHOLESALE OUTLET, DISCOUNT STORE • 9,301 SF
      131 Wonder Ln, Mesilla Park, NM 88047
      View Details
    • Value Estimation
      $615,000
      20,045 SF

      5603 Main St

      WHOLESALE OUTLET, DISCOUNT STORE • 20,045 SF
      5603 Main St, Mesilla Park, NM 88047-9626
      View Details
    • Value Estimation
      $685,000
      8,900 SF

      3975 Main St

      WHOLESALE OUTLET, DISCOUNT STORE • 8,900 SF
      3975 Main St, Mesilla Park, NM 88047
      View Details
    • Value Estimation
      $1,170,000
      48,552 SF

      6060 Main St

      WAREHOUSE, STORAGE • 48,552 SF
      6060 Main St, Mesilla Park, NM 88047
      View Details

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    • Contact for pricing

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    View Listing
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    3985 S Main St
    Las Cruces, NM 88001
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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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