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Property profile & analytics
OFF-MARKET
Estimated value
$965,000
Retail space
800 Spruce Ave, Las Cruces, NM 88001-2353
Entity Owned
4-yr Hold
Free & Clear
Property ID
US61-0342390
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1972
Total area
11,445 SF
Lot
0.6 ac (26,013 SF)
Zoning code
GEN-COMMERCL
APN
4-007-134-408-370
UPID
US61-0342390
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
-
Bible Studies By Mail Inc Charitable Organization Social Service Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.06M
Blend (final)
Blend
$965k
Owner & transaction history
Solano II LLC · 4 yrs held
Solano II LLC
since 2021
3 recorded transactions
Zoning & alternative use
GEN-COMMERCL · Las Cruces, NM
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.6M
+53.5%
Office building
$1.5M
+44.9%
Auto repair, garage
$1.4M
+31.6%
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
RETAIL STORES
$1,025,000
Current use
RESTAURANT
$1,575,000
Change: +54% · Conversion: Easy
OFFICE BUILDING
$1,490,000
Change: +45% · Conversion: Easy
AUTO REPAIR, GARAGE
$1,350,000
Change: +32% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$1,320,000
Change: +28% · Conversion: Difficult
COMMERCIAL (GENERAL)
$995,000
Change: -3% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$955,000
Change: -7% · Conversion: Difficult
WAREHOUSE, STORAGE
$840,000
Change: -18% · Conversion: Difficult
Blend value · Realmo final
$965k
Range $869k – $1.06M · ±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
$84 / 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
$9,901
Tax year 2023
Assessed value
$290,326
Assessed 2023
Previous assessed
$290,326
+0.0% YoY
Effective rate
3.41%
On assessed value
Assessed land
$21,678
Assessed improvement
$268,648
Land market value
$65,033
Improvement market value
$805,945
Total market value
$870,978
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1972
Heating
NONE
Total area
11,445 SF
Lot
0.6 ac (26,013 SF)
Zoning code
GEN-COMMERCL
APN
4-007-134-408-370
UPID
US61-0342390
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
RETAIL STORES Current
Est. value
$1.0M
RESTAURANT
Est. value
$1.6M
OFFICE BUILDING
Est. value
$1.5M
AUTO REPAIR, GARAGE
Est. value
$1.4M
INDUSTRIAL (GENERAL)
Est. value
$1.3M
COMMERCIAL (GENERAL)
Est. value
$995,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$955,000
WAREHOUSE, STORAGE
Est. value
$840,000
RETAIL STORES Current
RESTAURANT
OFFICE BUILDING
AUTO REPAIR, GARAGE
INDUSTRIAL (GENERAL)
COMMERCIAL (GENERAL)
APARTMENT HOUSE (5+ UNITS)
WAREHOUSE, STORAGE
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
1972
Heating
NONE
Lot
0.6 ac
Current owner
From public records · entity-resolved
Solano II LLC
Entity
Free & Clear · 4 yrs held
Mailing address
PO BOX 996, LAS CRUCES, NM 88004-0996
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 10, 2021
—
Solano II LLC
Newman Co LLC
Warranty Deed
—
Sep 21, 2020
—
Newman Co LLC
B & J Olson LLC
Grant Deed
—
Aug 1, 2018
—
B & J Olson LLC
Rawson Leasing LLC
Warranty Deed
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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