Sonoma Ranch Blvd & Sonora Springs Blvd

Vacant Land for Sale
Catylist Listing ID: 29925318
Property Subtypes: Multi-Family
Gross Land Area: 114,998 SF
Sale Price: $400,000
Unit Price: $3.48 PSF
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 6/27/2017

Overview / Comments

Located in the desirable area of Las Cruces, this 2.64 parcel of vacant is land is ready to be built. The location is within walking distance to Sonoma Ranch Golf Course. The area is surrounded by upper quality single family homes. The parcel is zoned multi-family R-3. There is a possibility, with current zoning, of building up to 52 units of multi-family housing. Las Cruces has experienced a robust rental market and low vacancy rates. This location is centered on the East Mesa with high visibility and increasing traffic. Sonoma Ranch Blvd now goes from University Ave. to Red Hawk Golf Course.
Broker has a complete proforma for building 52 units on this site.

Additional Details

Nearest MSA: Las Cruces
County: Dona Ana
Taxing Authority: Dona Ana County
Tax ID/APN: 02-32338
Zoning: R-3 MULTI-FAMILY
Property Located Between: Southeast Corner of Sonoma Ranch Blvd. & Sonora Springs Blvd
Property Visibility: Excellent
Legal Description: See Attached Survey and Legal Description
Largest Nearby Street: Sonoma Ranch
Feet of Frontage: 461
Highway Access: I-25 and Us Highway 7-
Lot Frontage: 461
Lot Depth: 147
Zoning Description: Multi-Family R-3

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 8,672 55,826 105,500
Median Age: 39.94 35.95 34.28
Households: 3,681 23,316 41,947

Source

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