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Property profile & analytics
OFF-MARKET
Estimated value
$725,000
Banks
501 Nacho Dr Las Cruces, NM 88011
Entity Owned
23-yr Hold
Absentee Owner
Free & Clear
Property ID
US61-0535089
Property profile
Verified
Property type
Banks
Use group
FINANCIAL BUILDING
Year built
2001
Total area
11,166 SF
Lot
2.17 ac (94,525 SF)
Zoning code
FLOOD-CONTRL
APN
4-009-134-272-527
UPID
US61-0535089
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
$680k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$772k
Blend (final)
Blend
$725k
Owner & transaction history
FIRST NEW MEXICO BANK
FIRST NEW MEXICO BANK
Zoning & alternative use
FLOOD-CONTRL · Las Cruces, NM
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.2M
+39.1%
Office building
$1.2M
+39.0%
Industrial (general)
$970,000
+14.8%
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
$680,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
FINANCIAL BUILDING
$845,000
Current use
RESTAURANT
$1,180,000
Change: +39% · Conversion: Difficult
OFFICE BUILDING
$1,175,000
Change: +39% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$970,000
Change: +15% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$955,000
Change: +13% · Conversion: Difficult
COMMERCIAL (GENERAL)
$840,000
Change: -1% · Conversion: Difficult
Blend value · Realmo final
$725k
Range $653k – $798k · ±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
$65 / 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
$27,022
Tax year 2023
Assessed value
$792,401
Assessed 2023
Previous assessed
$827,014
-4.2% YoY
Effective rate
3.41%
On assessed value
Assessed land
$362,346
Assessed improvement
$430,055
Land market value
$1,087,038
Improvement market value
$1,290,164
Total market value
$2,377,202
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
Banks
Use group
FINANCIAL BUILDING
Status
Off-Market
Year built
2001
Heating
NONE
Total area
11,166 SF
Lot
2.17 ac (94,525 SF)
Zoning code
FLOOD-CONTRL
APN
4-009-134-272-527
UPID
US61-0535089
Jurisdiction
DONA ANA
Zoning & alternative use
FLOOD-CONTRL · Las Cruces, NM
Zoning FLOOD-CONTRL · permitted uses
FLOOD-CONTRL · 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
FINANCIAL BUILDING Current
Est. value
$845,000
RESTAURANT
Est. value
$1.2M
OFFICE BUILDING
Est. value
$1.2M
INDUSTRIAL (GENERAL)
Est. value
$970,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$955,000
COMMERCIAL (GENERAL)
Est. value
$840,000
FINANCIAL BUILDING Current
RESTAURANT
OFFICE BUILDING
INDUSTRIAL (GENERAL)
APARTMENT HOUSE (5+ UNITS)
COMMERCIAL (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
2001
Heating
NONE
Lot
2.17 ac
Current owner
From public records · entity-resolved
FIRST NEW MEXICO BANK
Individual
Free & Clear · 0 yrs held
Mailing address
3000 E LOHMAN AVE, LAS CRUCES, NM 88011-8246
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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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