908 Solano DrLas Cruces, NM 88001

Property Details for 908 Solano Dr

Year built

1945

Construction

ADOBE

Lot size

0.15 AC

Property size (Sq ft)

1,022 SF

Zone code

GEN-COMMERCL

Property type

Retail properties

Property subtype

Other individual retail properties

APN

4-008-135-151-445

APU

4008135151445

Description

This exceptional storefront property at 908 S Solano Dr, Las Cruces, NM 88001, presents a fantastic investment opportunity. The 1,022 square foot building sits on a 6,500 square foot lot and is currently vacant, offering immediate occupancy. Recently renovated, the space is ready for a new tenant. The asking price is $249,000, translating to a price per square foot of $243.64. The property's classification is retail, specifically a storefront, and is part of a larger potential acquisition. A joint sale opportunity exists with the adjacent property at 1007 El Paseo, offering a combined purchase price of $695,000 for both properties. This location in Doña Ana County provides excellent visibility and accessibility, making it ideal for a variety of retail businesses. The property's single building structure offers simplicity and ease of management. Serious inquiries are encouraged to explore this promising investment prospect further. Detailed information regarding the joint sale opportunity is available upon request. This is a rare chance to acquire a newly renovated, well-located storefront in a thriving market.

• CAP approach

  CAP return

  Valuation

  6%

  $148,858

  6.5%

  $137,407

  7%

  $127,592

• Comparable approach

  Method

  Valuation

  Relative Method

  $428,553

  Geo Method

  $428,553

• Alternative Use

  Use

  Valuation

  Residential

  $115,908

  Hospitality

  $106,171

  Educational

  $88,333

  Medical

  $91,371

  Retail

  $137,407

Location Insight

City

Las Cruces

County

Dona Ana

State

New Mexico

Latitude

32.3035

Longitude

-106.764

CBSA code

29740

CBSA name

LAS CRUCES, NM METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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