Irrigated Farmland with
For Sale
$278,800
12A ROAD 5267, Farmington, NM 87401
Land, Farmington, NM
Property Size1,868 SF
Lot Size4.86 Acres
Price / SF$149.25
Days on Market39
Property Features for 12A ROAD 5267
General Information
Property type
Land
Property subtype
Other
Zoning description
None/County
Fencing
Chain Link, Barbed Wire
Elementary school
Bluffview Elementary
Middle school
Mesa View Middle School
High school
Piedra Vista High
Subdivision
Blmfld Hwy - Farm
Standard status
Active
Lot size
4.86 Acres
Taxes and HOA fees
Tax Description
4.86 AC B.1339 P.161
Tax Annual Amount
2537
Legal Description
4.86 AC B.1339 P.161
Listing Agency:
Keller Williams · Keller Williams Realty
Listed By:
Pamela Woolley · License #39579
(505) 278-8431
Added: Jul 28
Changed: Aug 19
Last Checked: Sep 4 at 2:06AM
MLS# 26-928
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.
Investment Insights
Based on property information with market context.
This agricultural land offering includes irrigated acreage in San Juan County, along with adjudicated water rights and functional irrigation equipment. The property also features chain-link and barbed-wire fencing, plus a 1,868-square-foot shop with four bay doors for equipment storage, recreational vehicles, hobbies, or a home-based business.
The property is located at 12A Road 5267 in Farmington, between Farmington and Bloomfield. Its rural setting overlooks the San Juan River Valley and provides open surroundings while remaining associated with the Farmington area. Water rights are subject to buyer verification.
The property is located at 12A Road 5267 in Farmington, between Farmington and Bloomfield. Its rural setting overlooks the San Juan River Valley and provides open surroundings while remaining associated with the Farmington area. Water rights are subject to buyer verification.
Key Highlights
- 1,868‑square‑foot shop with four bay doors
- Adjudicated water rights; buyer to verify
- Functional irrigation equipment
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$13,923
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.99%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$278,460
$278.5K
Cap Rate 7%
$198,900
$198.9K
Cap Rate 9%
$154,700
$154.7K
Market Conditions
NOI Build-Up for 1,868 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$17.7K $9.48/SF
− Vacancy
−$1.3K −$0.71/SF
EGI
$16.4K $8.77/SF
− OpEx
−$2.5K −$1.32/SF
NOI
$13.9K $7.45/SF
Area
San Juan County, NM
Vacancy
7.50%
Lease Rate
$9.48 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$278,460
Cap Rate 7%
$198,900
Cap Rate 9%
$154,700
Alternative Uses
Best Use
Warehouse
$198.9K
$174.0K – $232.1K
NOI $13,923 @ 7.0% cap · market cap 4.99%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$386.4K
$338.1K – $450.9K
NOI $27,051 @ 7.0% cap · market cap 9.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Water rights
Location Intelligence
Trade Area within ½ mile
20
Businesses Nearby
Explore this area
Business Placement
Demographics for 87401, NM
44,724
Population
17,611
Households
2.5
Avg Household Size
34
Median Age
19%
College-Educated
88%
High-School Grad
132.8 sq mi
ZIP Area
337
Density / Sq Mi
$56,358
Median Household Income
$31,362
Median Earnings
$983
Median Rent
$202,400
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Agricultural land / Farmland - Rural agricultural parcel with adjudicated water rights, irrigation equipment, fencing, and substantial shop improvements.
Where is this agricultural land / farmland located?
The property is located at 12A ROAD 5267 Farmington, NM.
What is the asking price?
The asking price for this property is $278,800.
What are key features of this property?
This property features: 1,868‑square‑foot shop with four bay doors; Adjudicated water rights; buyer to verify; Functional irrigation equipment
