506 E May Avenue, Las Cruces, NM 88001

$600,000
Property Type: Commercial Lease Lot Size (sq. ft.): 17,050 Status: Active
Current Price: $600,000 List Date: 11/19/2025 Last Modified: 11/19/2025

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 spaces Whether 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.

More Information MLS# 2503612

Contract Information

Property Sub-Type: Multi-Use (See Remarks) Marketing Date: 2025-11-18 Asking Price: 600000 Current Price: $600,000 Term Date: 2025-11-18

Location, Tax & Legal

Account Number: R0206465 Parcel Number: 4-007-135-371-223 Add Account Number: 4-007-135-371-223 Add Parcel Number: R0206465 Number: 506 Direction: E Street Name: May St Suffix: Avenue County: Dona Ana State: NM Zip Code: 88001 Area: 999 - Other Subdivision: Las Cruces Heights

General Property Info

Lot SqFt: 17050 Actual Lot Size Source: Public Records Lot Acres: 0.39 Use of Electronic Document Transmission: Yes Green Certified: No Lot Size: .25 to .50 AC Number of Units: 6 Owner Financing: No Parking Capacity: 15 Age: 71 to 80 Years Condition: Good to Excellent # Stories: 1 Earnest Money Payable To: Southwestern Abstract & Title/ Patricia Saenz 3rd Party Approval: No Short Sale: No REO/Bank Owned: No Court Approval: No

Remarks & Misc

Legal: Subd: ORIGINAL TOWNSITE Lot: 3 Block: 74 S: 18 T: 23S R: 2E Advertising Remarks: 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 spaces Whether 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.

Office/Member Info

Office Address: 424 N. Main St STE 100 Las Cruces, NM 88001

Miscellaneous

Outside Storage: 1

Imp W/Strc Usbl WExzn

Multiple Dwelling: 1

Location

Downtown Area: 1

Construction

Stucco: 1

Cooling

Evaporative Central: 1

Road Frontage

City Street: 1

Type of Business

Other - See Remarks: House with apartments

Ceiling Height

Less than 8Ft: 1

Heating

Forced Air: 1

Floors

Carpeting: 1 Ceramic Tile: 1

Walls

Plaster: 1 Sheet Rock: 1

Roof

Flat: 1 Tar/Gravel: 1

Water Heater

Gas: 1

Main Size Water

Unknown: 1

Sewer

Unknown: 1

Utilities Available

City Sewer: 1 City Water: 1 Electric: 1 Gas: 1

Tenant Pays

Electricity: 1 Gas: 1

Status Change Info

Status: Active

Property Features

Road Frontage: City Street Location: Downtown Area Construction: Stucco Ceiling Height: Less than 8Ft Floors: Carpeting; Ceramic Tile Walls: Plaster; Sheet Rock Roof: Flat; Tar/Gravel Heating: Forced Air Cooling: Evaporative Central Water Heater: Gas Miscellaneous: Outside Storage Main Size Water: Unknown Sewer: Unknown Utilities Available: City Sewer; City Water; Electric; Gas Tenant Pays: Electricity; Gas
Listing Office: Berkshire Hathaway Homeservices - NM Properties
Last Updated: November - 19 - 2025
Information deemed reliable but not guaranteed.