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Property profile & analytics
OFF-MARKET Estimated value $505,000
Retail space

642 Alameda Blvd Las Cruces, NM 88005-2801

5,350 SF 0.74 ac lot Built 1960
Entity Owned 4-yr Hold ~ Est. High Equity
Property ID
US61-0330144
Property summary
AI-generated overview

This exceptional single-tenant office space, totaling 1,294 square feet, is ideally situated at 642 S Alameda Blvd, Suite B, Las Cruces, New Mexico, 88005. The property, built in 1960, benefits from a convenient corner location at the intersection of El Molino and South Alameda Boulevard. The building features a total of seven offices and offers ample parking with ten spaces available. The suite itself is located on the left side of the building. This traditional office space is perfect for a variety of businesses and is currently vacant, presenting an immediate opportunity for occupancy. The property is zoned C2 and has an APN of 4-007-135-189-423 within Doña Ana County. The building's square footage is entirely available for lease, providing a significant space for a single tenant. This location offers excellent visibility and accessibility, making it an attractive option for businesses seeking a prominent presence in Las Cruces. The property presents a rare opportunity to secure a well-located, sizable office space in a thriving New Mexico market.

Property profile
Verified
Property type Retail space
Use group RETAIL STORES (PERSONAL SERVICES)
Year built 1960
Total area 5,350 SF
Lot 0.74 ac (32,199 SF)
Zoning code GEN-COMMERCL
APN 4-007-135-189-423
UPID US61-0330144
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
  • Associates For Counseling Physician Medical Clinic
  • AIM Las Cruces Alternative Medicine Practice
  • Pentecost International Worship Centre - Las Cruces Church
  • Jane L. Grider Counselor
  • Las cruces smoke shop (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
$325k
CAP Approach CAP
$670k
Comparable Approach Comparable
$526k
Blend (final) Blend
$505k
Owner & transaction history
Future Realty Estates LLC · 4 yrs held
Future Realty Estates LLC
since 2022
7 recorded transactions
2022
Price N/A
2020
Price N/A
2020
Price N/A
2018
Price N/A
2016
Price N/A
2016
Price N/A
2014
Price N/A
Zoning & alternative use
GEN-COMMERCL · Las Cruces, NM
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage $630,000 +45.9%
Commercial (general) $600,000 +38.6%
Office building $580,000 +33.6%
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