Modern Multi-Use Commercial
2050 KNUDSEN Avenue Farmington, NM 87401
For Sale
$2,900,000
COMMERCIAL - Farmington, NM
Property Size16,498 SF
Lot Size1.24 Acres
Price / SF$175.78
Days on Market293
Property Features for 2050 KNUDSEN Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Security features
Security System
Standard status
Active
Size
16,498 SF
Lot size
1.24 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
VALLEY VIEW CENTER SUBDIVISION REPLAT E LOT 1A-A-E2
Utilities
Cooling system
Central Air
Building Details
Floors in Building
2
Listing Agency:
San Juan Realty
(505) 327-4837
Listed By:
Richard Buffington · License #REC20230425
(505) 327-4837
Added: Oct 10, 2025
Changed: May 13
Last Checked: Jul 29 at 10:06AM
MLS# 25-1338
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 modern, multi-use commercial building offers a versatile space with income streams and room for growth. The property has a total area of 16,498.8 square feet and includes 8 units, 6 of which are fully finished. The property features two upper-level live/work or executive-style suites, each equipped with two bedrooms and two bathrooms. Suite 1 measures 1,516 sq. ft., while Suite 2 offers 1,528.8 sq. ft. Both suites feature custom cabinetry, open-concept layouts, and views of Farmington. The unfinished main-level units are suitable for retail, professional offices, or customizable tenant build-outs. The seller is willing to contribute up to $20,000 per unit towards finishing, including one restroom and standard interior finishes. A long-term lease is in place with Fresenius Kidney Care Dialysis, a national healthcare provider, occupying 7,338 sq. ft. The lease began three years ago with an initial 10-year term, currently at $9,500 per month with 2% annual rent increases, and an automatic renewal option for an additional 15 years. The property also includes a 3,032 sq. ft. conference and event venue, featuring two full restrooms, storage, and a fully finished kitchen. Optional management is in place, offering a low-maintenance investment. The property, located in Farmington, NM, sits on a 1.24-acre lot and is zoned for mixed-use. It is suitable for investors seeking stable cash flow, long-term appreciation, and flexible expansion.
Key Highlights
- High‑income producing property with a long‑term lease in place with Fresenius Kidney Care Dialysis.
- Significant expansion potential with unfinished main‑level units, seller contribution towards finishing costs.
- Two upper‑level, turnkey live/work or executive‑style suites with custom finishes.
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $243.5k | $14.76 |
| − Vacancy | −$10.5k | −$0.63 |
| EGI | $233.0k | $14.13 |
| − OpEx | −$69.9k | −$4.24 |
| NOI | $163.1k | $9.89 |
16,498 SF · lease $14.76/SF/yr · vacancy 4.30% · expense 30.00%
Alternative Uses
Best Use
Retail
$2.33M
$2.04M – $2.72M
NOI $163,128 @ 7.0% cap · market cap 5.63%
Second Best
Office B
$2.10M
$1.84M – $2.45M
NOI $147,294 @ 7.0% cap · market cap 5.08%
Theoretical Best
Office A
$3.41M
$2.99M – $3.98M
NOI $238,908 @ 7.0% cap · market cap 8.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Office units - Upscale commercial property with high-income tenant and expansion potential.
Where is this office units located?
The property is located at 2050 KNUDSEN Avenue Farmington, NM.
What is the asking price?
The asking price for this property is $2,900,000.
What are key features of this property?
This property features: High‑income producing property with a long‑term lease in place with Fresenius Kidney Care Dialysis.; Significant expansion potential with unfinished main‑level units, seller contribution towards finishing costs.; Two upper‑level, **turnkey live/work or executive‑style suites** with custom finishes.
