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Property profile & analytics
OFF-MARKET
Estimated value
$2,330,000
Warehouses
400 Montana Ave, Las Cruces, NM 88001
Entity Owned
11-yr Hold
~
Est. High Equity
Property ID
US61-0535092
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
2008
Construction
CONCRETE
Total area
24,590 SF
Lot
2.99 ac (130,027 SF)
Zoning code
GEN-COMMERCL
APN
4-007-136-507-260
UPID
US61-0535092
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.37M
Comparable Approach
Comparable
$2.29M
Blend (final)
Blend
$2.33M
Owner & transaction history
Arec 5 LLC · 11 yrs held
Arec 5 LLC
since 2014
1 recorded transaction
Zoning & alternative use
GEN-COMMERCL · Las Cruces, NM
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$3.4M
+87.0%
Office building
$3.2M
+76.6%
Auto repair, garage
$2.9M
+60.4%
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%
$2,560,000
6.5%
$2,365,000
7%
$2,195,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$1,810,000
Current use
RESTAURANT
$3,385,000
Change: +87% · Conversion: Difficult
OFFICE BUILDING
$3,195,000
Change: +77% · Conversion: Difficult
AUTO REPAIR, GARAGE
$2,900,000
Change: +60% · Conversion: Easy
INDUSTRIAL (GENERAL)
$2,835,000
Change: +56% · Conversion: Easy
RETAIL STORES
$2,205,000
Change: +22% · Conversion: Moderate
COMMERCIAL (GENERAL)
$2,135,000
Change: +18% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$2,050,000
Change: +13% · Conversion: Difficult
Blend value · Realmo final
$2.33M
Range $2.10M – $2.56M · ±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
$95 / 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
$27,819
Tax year 2023
Assessed value
$815,751
Assessed 2023
Previous assessed
$815,751
+0.0% YoY
Effective rate
3.41%
On assessed value
Assessed land
$130,027
Assessed improvement
$685,724
Land market value
$390,081
Improvement market value
$2,057,171
Total market value
$2,447,252
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
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
2008
Construction
CONCRETE
Heating
NONE
Buildings
7
Bathrooms
2
Total area
24,590 SF
Lot
2.99 ac (130,027 SF)
Zoning code
GEN-COMMERCL
APN
4-007-136-507-260
UPID
US61-0535092
Jurisdiction
DONA ANA
Zoning & alternative use
GEN-COMMERCL · Las Cruces, NM
Zoning GEN-COMMERCL · permitted uses
GEN-COMMERCL · 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
$1.8M
RESTAURANT
Est. value
$3.4M
OFFICE BUILDING
Est. value
$3.2M
AUTO REPAIR, GARAGE
Est. value
$2.9M
INDUSTRIAL (GENERAL)
Est. value
$2.8M
RETAIL STORES
Est. value
$2.2M
COMMERCIAL (GENERAL)
Est. value
$2.1M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.1M
WAREHOUSE, STORAGE Current
RESTAURANT
OFFICE BUILDING
AUTO REPAIR, GARAGE
INDUSTRIAL (GENERAL)
RETAIL STORES
COMMERCIAL (GENERAL)
APARTMENT HOUSE (5+ UNITS)
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
Construction
CONCRETE
Heating
NONE
Buildings
7
Bathrooms
2
Lot
2.99 ac
Current owner
From public records · entity-resolved
Arec 5 LLC
Entity
Mailing address
PO BOX 29046, PHOENIX, AZ 85038-9046
Ownership since
2014
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
Aug 11, 2014
—
Arec 5 LLC
—
Grant Deed
related
$34,500,000 · Jp Morgan Chase Bank NA
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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