300 Foster RdLas Cruces, NM 88005

Property Details for 300 Foster Rd

Lot size

1.61 AC

Zone code

GEN-COMMERCL

Property type

Parking lots & garages

APN

4-007-136-349-190

APU

4007136349190

Description

This exceptional 7,367 square foot office building presents a compelling investment opportunity in the heart of Las Cruces, New Mexico. Built in 1980 and renovated in 1990, the property sits on a 3.05-acre lot and is zoned C-2, allowing for a variety of uses. Currently vacant, the building features a convenient drive-through and ample parking, making it ideal for a financial institution or professional office space. Its excellent condition and prime location offer significant potential for future growth and profitability. Situated in a vibrant area with a mix of businesses and leisure options, the property benefits from proximity to New Mexico State University, providing access to a skilled workforce. The surrounding area boasts diverse dining, cultural attractions, and shopping, creating a desirable environment for employees and clients alike. The asking price for this well-maintained, strategically located office building is $1,650,000. This is a rare opportunity to acquire a substantial commercial property in a thriving New Mexico market. The address is 300 Foster Rd, Las Cruces, NM 88005.

• CAP approach

  CAP return

  Valuation

  6%

  $7,920,690

  6.5%

  $7,311,410

  7%

  $6,789,170

• Comparable approach

  Method

  Valuation

  Relative Method

  $12,136,800

  Geo Method

  $12,136,800

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $14,224,400

  Mixed-Use / Specialty

  $7,298,910

  Hospitality / Lodging

  $5,372,640

  Office

  $7,269,680

  Institutional / Educational

  $7,592,780

  Residential Income

  $8,883,550

  Multifamily

  $10,579,200

  Automotive / Energy

  $6,508,090

  Parking / Income-Based Land

  $2,232,460

  Restaurant / Food Service

  $3,825,170

  Healthcare / Senior Housing

  $7,470,980

Location Insight

City

Las Cruces

County

Dona Ana

State

New Mexico

Latitude

32.2957

Longitude

-106.774

CBSA code

29740

CBSA name

LAS CRUCES, NM METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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