255 NM-28, Las Cruces, NM 88005

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Building Details:

• Year Built: 1945

255 NM-28 is located in Las Cruces, NM.

Are you the type of investor who likes to do wonders with economically priced property?? Are you looking for commercially zoned property where highest and best use may not even be the current one in place. If you the type that likes add thousands to the value of your real estate while taking advantage of a solid existing income this could be the property for you. This location is zoned C-2 with no significant restrictions in place. Consisting of 1.09 acres, it is only partially built out in terms of the maximum units that could be in place. It currently consists of 4 1BR units generating $500 per month and 1 2BR unit generating $575 per month. There is also and additional residence that generates $650 per month. The overall gross income is well in excess of $3,000+ monthly. All of the units have been recently remodeled with new stucco and evaporative coolers in place. Numerous other interior cosmetic improvements also apply. The location sits within the heart of an established district that is slowly starting to see an increase in nationally known retail names and beyond with numerous other planned developments on the way. The potential is in place for a wide variety of opportunity. Please give this investment your consideration.