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    11 Road 6536 Kirtland, NM 87417

    View on Map
    Sponsored
    For Sale
    $445,000

    Multi Family - Kirtland, NM

    Type:Multi Family
    Lot size:
    3.30 Acres
    Days on Market:
    2
    Last Refresh:
    Mar 15 at 10:06 pm

    Property Features for 11 Road 6536

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Multi Family
    Standard status
    Active
    Rooms
    Bedroom 1, Bedroom 2
    Bedrooms
    2
    Appliances
    Refrigerator
    Lot size
    3.30 Acres

    Utilities

    Heating system
    Natural Gas
    Cooling system
    Evaporative Cooling

    Building Details

    Floors in Building
    1
    Architectural style
    Other

    We can help!

    Listing Contact
    Nicole Sanchez

    RE/MAX of Farmington (505) 327-4777

    Listing agent Nicole Sanchez (505) 327-4777 License #REC20220332

    Listing date Mar 14, 2026

    MLS# 26-298 Listing URL

    Copyright © 2026 San Juan County Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Kirtland Multifamily Investment Opportunity

    Located in Kirtland, this 3.3-acre parcel presents a prime investment opportunity. The property is situated down the street from McDonald's on a dead-end road, offering visibility and long-term potential. It includes a 3-bedroom, 2-bathroom site-built home with fresh interior paint coming soon, a 1-bedroom, 1-bathroom site-built home featuring new appliances, and a 3-bedroom, 2-bathroom mobile home taxed as personal property with title transfer at sale. Additional improvements feature seven storage units, fencing and livestock pens, a horse pen, and a chicken pen. The land can accommodate livestock and is suitable for various uses. Utilities include electric through the City of Farmington, gas with NM Gas Company, and water through Lower Valley Water Tap. Water rights are available through Farmers Mutual Ditch Pumping Rights. All three septic systems have been maintained and are currently in use, with public sewer taps available in the street for future development. The property also features established fruit trees and vines, including peach, apricot, apple, cherry, mixed fruit, red and green grapes, and raspberries. The vacant portion offers the potential to build a duplex, add a mobile home, or further develop additional rental opportunities. It could be a perfect development for a tiny home village or even a mobile home park.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Restaurant Real Estate Agency Building Supply Dental Office Big Box & Wholesale Store Hair Salon Auto Repair Shop Gym & Fitness Center Auto Parts Store Department Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Kirtland
    County
    San Juan
    State
    New Mexico
    Longitude
    -108.363878
    Latitude
    36.742193

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    FAQs

    What type of property is this?
    Multifamily property - 3.3-acre property with rental income and development potential.
    Where is this multifamily property located?
    The property is located at 11 Road 6536 Kirtland, NM.
    What is the asking price?
    The asking price for this property is $445,000.
    What are key features of this property?
    This property features: - Income-producing property: 3 rentals (3/2 home, 1/1 home, 3/2 mobile home) can cover the mortgage.; - 3.3 acre parcel with development potential: build a duplex or add rentals (buyer to verify).; - Prime Kirtland location near McDonald's with excellent visibility.
    (505) 320-6141
    Request Owner's contact information
    11 Road 6536 Kirtland, NM 87417
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    Kirtland, NM 87417
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    11 Road 6536 Kirtland, NM 87417
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    We can help!
    Listing Contact
    Nicole Sanchez
    Real Estate License ID: REC20220332
    (505) 320-6141 (505) 327-4777
    Learn more
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