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27859304
27859301

5353 Spirit Ridge Road, Las Cruces, NM 88007

LJ
NM 0943
Debbie Johnson
Listed by Debbie Johnson
$925,000
216 days on market
Updated 46 days ago

A Lodge on the Desert

Details
Property Type Business for Sale, Mixed Use (+1)
Sub Type Business and Building
Square Footage 10,000
Net Rentable (SqFt) 7,000
Units 7
Cap Rate 10.00%
NOI $84,000
Occupancy 90%
Tenancy Multi
Price per SqFt $93
Class B
Year Built 1965, 1992
Year Renovated 2022
Buildings 1
Stories 2
Acreage 5.000
Zoning Conditional C1
Parking Spaces 10 spaces
Parking Per SqFt 1.00
Investment Type Institutional
Occupancy Date 10/26/2025
Ground Lease No
Sale Condition For sale by owner

Great income potential or large family compound with this huge home and 6 apartments

Marketing description

A Lodge On The Desert was built in 1965 as a private home. It was expanded and became a bed-and-breakfast in 1996. The Lodge is a tri-level building having approximately 10,000 to 12,000 ft. of heated and cooled area. 1900 ft. of covered patios and balconies. Nine suites. 10 full baths. 3 half baths. Seven kitchens. Outdoor partial kitchen. Office. Two-story atrium with rock waterfall. Balcony library. Double garage. Main laundry room and guest laundry room. Solar power. 450 feet deep well. Stone walls, Adobe walls and rot iron completely enclosed the Lodge. The lodge is situated on 5 acres. Large east facing patio has a large Cantera fountain, covered outdoor kitchen, two bathrooms and storage. It easily accommodates large parties and events. Approximately 2 acres are fenced in the backyard with many shade trees. This is a wonderful rental opportunity.

Investment highlights

Here are the monthly apartment rental rates from 2021: Angel Suite—$800, Loft Suite—$850, Bridal Suite—$1,500, Zia Suite—1,050, Kokopelli Suite—$1,500, Whispering Pine room—1,500, West Room—$990. This does not include the owner’s quarters or event rentals in the courtyard with amazing Organ Mountain views. This property is on 5 acres with a huge fenced back yard with trees. Rock walls surround the property. A Lodge On The Desert sits up on a hill overlooking the city. Far enough away from town to enjoy the star-filled sky, but only about 15 minutes away from New Mexico State University, historic downtown and Old Mesilla. Property is on a dead-end street with little traffic.

Listing Contacts

LJ
NM 0943
Debbie Johnson
Listed by Debbie Johnson

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Loan Amount
$0.00
Annual Debt Service
$--
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Annual Cash Flow
$84,000.00
$7,000.00/mo

Valuation Metrics

0
DSCR
9.08%
Cap Rate
9.08%
ROI

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Additional Information

Name
Luke Johnson
License
0943
Brokerage
Palms Realty
Brokerage Phone
(575) 524-0658
Title
Real Estate Agent
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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