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Property profile & analytics
OFF-MARKET
Estimated value
$565,000
Warehouses
425 Motel Blvd, Las Cruces, NM 88007-8142
Individually Owned
4-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US61-0286127
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
2006
Total area
9,300 SF
Lot
2.48 ac (108,029 SF)
Zoning code
I2
APN
4-005-135-173-487
UPID
US61-0286127
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
-
Absolute Rentals Storage Facility
-
Goodyear Tirecenter Plus Commercial and Farm Center (Bike/Boat/Book/etc) Store Auto Parts Store
-
Tire Center Plus (Bike/Boat/Book/etc) Store Auto Parts Store
-
Affordable RV & Marine Service Auto Repair Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$554k
Blend (final)
Blend
$565k
Owner & transaction history
Joseph Ikard · 4 yrs held
Joseph Ikard
since 2021
6 recorded transactions
Zoning & alternative use
I2 · Las Cruces, NM
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$910,000
+140.6%
Apartment house (5+ units)
$795,000
+110.8%
Office building
$775,000
+105.4%
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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$380,000
Current use
RETAIL STORES
$910,000
Change: +141% · Conversion: Moderate
APARTMENT HOUSE (5+ UNITS)
$795,000
Change: +111% · Conversion: Difficult
OFFICE BUILDING
$775,000
Change: +105% · Conversion: Difficult
COMMERCIAL (GENERAL)
$745,000
Change: +98% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$670,000
Change: +77% · Conversion: Easy
Blend value · Realmo final
$565k
Range $509k – $622k · ±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
$61 / 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
$6,933
Tax year 2023
Assessed value
$264,424
Assessed 2023
Previous assessed
$264,424
+0.0% YoY
Effective rate
2.62%
On assessed value
Assessed land
$54,015
Assessed improvement
$210,409
Land market value
$162,044
Improvement market value
$631,226
Total market value
$793,270
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
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
2006
Heating
NONE
Buildings
3
Total area
9,300 SF
Lot
2.48 ac (108,029 SF)
Zoning code
I2
APN
4-005-135-173-487
UPID
US61-0286127
Jurisdiction
DONA ANA
Zoning & alternative use
I2 · Las Cruces, NM
Zoning I2 · permitted uses
I2 · 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
$380,000
RETAIL STORES
Est. value
$910,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$795,000
OFFICE BUILDING
Est. value
$775,000
COMMERCIAL (GENERAL)
Est. value
$745,000
INDUSTRIAL (GENERAL)
Est. value
$670,000
WAREHOUSE, STORAGE Current
RETAIL STORES
APARTMENT HOUSE (5+ UNITS)
OFFICE BUILDING
COMMERCIAL (GENERAL)
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
2006
Heating
NONE
Buildings
3
Lot
2.48 ac
Current owner
From public records · entity-resolved
Joseph Ikard
Individual
Mailing address
1165 EL PASEO RD, LAS CRUCES, NM 88001-6027
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 30, 2021
—
Joseph Ikard
Carolina Ikard
Intrafamily Transfer
related
—
Sep 28, 2010
—
Joseph Ikard
Joseph & Margaret Ikard Props
Quit Claim Deed
related
—
Apr 27, 2009
—
Joseph Props
Sanchez-ikard,margaret
Quit Claim Deed
related
—
—
—
Joseph Props
—
Deed Of Trust
related
$325,000 · Citizens Bank Las Cruces
—
—
Joseph Props
—
Deed Of Trust
related
$184,377 · Citizens Bank Las Cruces
—
—
Joseph Props
—
Deed Of Trust
related
—
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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