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Property profile & analytics
OFF-MARKET
Estimated value
$4,375,000
Industrial properties
Las Cruces, NM 88005
Entity Owned
22-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US61-0607696
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
1987
Total area
49,847 SF
Lot
4 ac (174,240 SF)
Zoning code
LT-MANUFACTR
APN
4-007-136-160-414
UPID
US61-0607696
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
$4.54M
Comparable Approach
Comparable
$4.21M
Blend (final)
Blend
$4.38M
Owner & transaction history
Borman Land LLC
Borman Land LLC
1 recorded transaction
Zoning & alternative use
LT-MANUFACTR · Las Cruces, NM
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$5.9M
+81.4%
Commercial (general)
$5.6M
+72.3%
Office building
$5.4M
+66.1%
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%
$4,920,000
6.5%
$4,540,000
7%
$4,215,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$3,245,000
Current use
AUTO REPAIR, GARAGE
$5,885,000
Change: +81% · Conversion: Easy
COMMERCIAL (GENERAL)
$5,590,000
Change: +72% · Conversion: Difficult
OFFICE BUILDING
$5,385,000
Change: +66% · Conversion: Difficult
RESTAURANT
$5,120,000
Change: +58% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$4,270,000
Change: +32% · Conversion: Difficult
RETAIL STORES
$4,030,000
Change: +24% · Conversion: Moderate
Blend value · Realmo final
$4.38M
Range $3.94M – $4.81M · ±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
$88 / 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
$43,377
Tax year 2023
Assessed value
$1,271,967
Assessed 2023
Previous assessed
$1,271,967
+0.0% YoY
Effective rate
3.41%
On assessed value
Assessed land
$217,800
Assessed improvement
$1,054,167
Land market value
$653,400
Improvement market value
$3,162,500
Total market value
$3,815,900
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
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Status
Off-Market
Year built
1987
Heating
NONE
Total area
49,847 SF
Lot
4 ac (174,240 SF)
Zoning code
LT-MANUFACTR
APN
4-007-136-160-414
UPID
US61-0607696
Jurisdiction
DONA ANA
Zoning & alternative use
LT-MANUFACTR · Las Cruces, NM
Zoning LT-MANUFACTR · permitted uses
LT-MANUFACTR · 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
INDUSTRIAL (GENERAL) Current
Est. value
$3.2M
AUTO REPAIR, GARAGE
Est. value
$5.9M
COMMERCIAL (GENERAL)
Est. value
$5.6M
OFFICE BUILDING
Est. value
$5.4M
RESTAURANT
Est. value
$5.1M
APARTMENT HOUSE (5+ UNITS)
Est. value
$4.3M
RETAIL STORES
Est. value
$4.0M
INDUSTRIAL (GENERAL) Current
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
OFFICE BUILDING
RESTAURANT
APARTMENT HOUSE (5+ UNITS)
RETAIL STORES
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
1987
Heating
NONE
Lot
4 ac
Current owner
From public records · entity-resolved
Borman Land LLC
Entity
Mailing address
470 W BOUTZ RD, LAS CRUCES, NM 88005-3190
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
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
—
—
Borman Land LLC
—
Deed Of Trust
related
$19,000,000 · First American Bank
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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