506 E May Avenue, Las Cruces, NM 88001
Las Cruces Heights · Dona Ana County
Key Facts
Description
JUST LISTED!PRIME DOWNTOWN LAS CRUCES, NM INVESTMENT OPPORTUNITY. NEWLY REMODELED.Unlock the kind of potential investors chase but rarely find. This mixed-use gem sits just steps from the vibrant, fast-growing heart of Downtown Las Cruces, surrounded by thriving restaurants, breweries, boutiques, and year-round foot traffic.Property features include: One 3-bedroom rental unit, perfect for strong long-term cash flow Five 1-bedroom, 1-bath apartments, high-demand, low-vacancy, and always rentable A+ location in a revitalized corridor Endless upside with value-add improvements, short-term rental options, or re-imagined urban living spacesWhether you're a seasoned investor or looking to expand your portfolio with a downtown property that actually performs, this is the moment. Opportunities in this location do not sit long. High demand. High visibility. This is the one worth moving on. Let's make it yours.Purchase subject to existing leases on all 6 units.
Property Information
Property Type
Commercial Lease
Sub-Type
Mixed Use
Stories
1
Lot Size
0.39 acres
Lot Dimensions
.25 to .50 AC
Parking Spaces
15
Days on Market
1
MLS® Listing#
2503612
Property Features
Appliances
Cooling
Heating
Flooring
Construction
Roof
Utilities
Sewer
Water Source
Financial Details
Parcel Number
4-007-135-371-223
Directions
Located downtown areaMesquite Street to 506 E May Avenue with apartments located at 520 E May Avenue
Affordability Calculator
$120,000
Estimated monthly payment
$3,193/mo
Principal $480,000 · Est. interest $669,643 over 30 yrs
Neighborhood Market Statistics
How this home compares to active listings in Las Cruces, NM
- $368,644
- Median Listing Price
- 69
- Median Days on Market
- 2,000
- Median Sq Ft
- $191
- Median Price / Sq Ft
- 683
- Active Listings
- This home’s price is 63% above the area median.
Market statistics compiled from active EXIT Realty® and MLS listings in Las Cruces, NM.
Location
Getting Around
Points of Interest in Las Cruces, NM
Showing the Las Cruces area map.
Nearby Schools
New America School Las Cruces
Secondary · 0.3 mi away
Alameda Elementary
Elementary · 0.3 mi away
Central Elementary
Elementary · 0.4 mi away
Pinnacle Institute
School · 0.5 mi away
J Paul Taylor Academy
School · 0.6 mi away
Alma D'Arte Charter High School
Secondary · 0.6 mi away
Hermosa Heights Elementary School
Elementary · 0.7 mi away
Valley View Elementary School
Elementary · 0.8 mi away
Booker T Washington Community Elementary School
Elementary · 0.8 mi away
Living Hope Montessori
Elementary · 0.9 mi away
La Academia Dolores Huerta
School · 0.9 mi away
Alameda Elementary School
Elementary · 1.1 mi away
Kidz Quest Academy- Childcare and Learning Center
School · 1.1 mi away
Las Montanas Charter High School
Secondary · 1.1 mi away
MacArthur Elementary School
Elementary · 1.2 mi away
Las Cruces Catholic School
Elementary · 1.2 mi away
Sierra Middle School
Secondary · 1.2 mi away
Lynn Middle School
Secondary · 1.3 mi away
Las Cruces High School
Secondary · 1.3 mi away
Heart for the World Church
School · 1.4 mi away
Commute Calculator
Nearby Homes
Similar Homes Nearby
Similar Home Values
Comparable nearby listings and their asking prices.
| Address | Price | Beds | Baths | Sq Ft |
|---|---|---|---|---|
| 3820 Portrait Street, Las Cruces, NM | $420,000 | 3 | 3 | 1,830 |
| LOT 3 TBD Old River Road, Las Cruces, NM | $420,000 | — | — | — |
| 3688 Albion Avenue, Las Cruces, NM | $420,000 | 4 | 3 | 2,126 |
| 2205 Sun Chaser Place, Las Cruces, NM | $420,000 | 4 | 2 | 2,389 |
| 2205 Sun Chaser Place, Las Cruces, NM | $420,000 | 4 | 2 | 2,389 |
| 7361 Piedmont Avenue, Las Cruces, NM | $420,320 | 4 | 2 | 2,039 |
Moving Cost Estimate
EXIT Agents in Las Cruces
Listing Courtesy: Berkshire Hathaway Homeservices - NM Properties - 5755419221
Presented by: Terriane M Everhart