Fenced Flex
For Sale
$750,000
4100 MONROE Road, Farmington, NM 87401
Commercial Sale, Farmington, NM
Property Size8,400 SF
Lot Size1.24 Acres
Price / SF$89.29
Days on Market280
Property Features for 4100 MONROE Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Industrial
Security features
Security System
Directions
From Bloomfield Hwy turn on to Valentine Rd. Property will be on the right of the corner of Valentine Rd. and Monroe Rd.
Subdivision
9K
Standard status
Active
Size
8,400 SF
Lot size
1.24 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
BEG W 1158.02 FT FROM SE COR 13 29 13, THENCE W 165.43 FT, N 330 FT, E 163.15 FT, S 329.69 FT TO BEG. B.1464 P.352
Legal Description
BEG W 1158.02 FT FROM SE COR 13 29 13, THENCE W 165.43 FT, N 330 FT, E 163.15 FT, S 329.69 FT TO BEG. B.1464 P.352
Utilities
Heating system
Natural Gas
Cooling system
Evaporative Cooling
Building Details
Floors in Building
1
Listing Agency:
Dimmick Realty
(505) 325-8863
Listed By:
David Harris · License #51226
(505) 325-8863
Added: Nov 20, 2025
Changed: Aug 19
Last Checked: Aug 27 at 10:06PM
MLS# 25-1505
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 8,400-square-foot flex property in Farmington includes 1,200 square feet of office space alongside a shop area. The 1.24-acre site is fenced and configured for a combination of office and industrial functions. Building improvements include 2 overhead doors, 3 split 240V electrical services, and an interior sprinkler system.
The property is located at 4100 Monroe Road in Farmington, New Mexico. Natural gas heating and evaporative cooling serve the building, providing established mechanical systems for the existing office and shop configuration. The combination of enclosed site area, office improvements, shop space, overhead access, and electrical capacity supports a range of commercial operational requirements.
The property is located at 4100 Monroe Road in Farmington, New Mexico. Natural gas heating and evaporative cooling serve the building, providing established mechanical systems for the existing office and shop configuration. The combination of enclosed site area, office improvements, shop space, overhead access, and electrical capacity supports a range of commercial operational requirements.
Key Highlights
- 8,400 square feet with 1,200 square feet of office space
- Fenced 1.24‑acre lot
- Shop includes 2 OH doors
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
$51,562
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
6.87%
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%
$1,031,240
$1.0M
Cap Rate 7%
$736,600
$736.6K
Cap Rate 9%
$572,911
$572.9K
Market Conditions
NOI Build-Up for 8,400 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
$79.6K $9.48/SF
− Vacancy
−$6.0K −$0.71/SF
EGI
$73.7K $8.77/SF
− OpEx
−$22.1K −$2.63/SF
NOI
$51.6K $6.14/SF
Area
San Juan County, NM
Vacancy
7.50%
Lease Rate
$9.48 /SF/Yr
Expense Ratio
30.00%
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%
$1,031,240
Cap Rate 7%
$736,600
Cap Rate 9%
$572,911
Alternative Uses
Best Use
Industrial
$736.6K
$644.5K – $859.4K
NOI $51,562 @ 7.0% cap · market cap 6.87%
Second Best
Flex RnD
$484.8K
$424.2K – $565.7K
NOI $33,939 @ 7.0% cap · market cap 4.53%
Theoretical Best
Office A
$1.74M
$1.52M – $2.03M
NOI $121,641 @ 7.0% cap · market cap 16.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Sprinkler system
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
93
Businesses Nearby
Well-served
Demand for This Use
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?
Flex space - Industrial improvements include dedicated office area, overhead access, 240V power, and interior sprinkler protection.
Where is this flex space located?
The property is located at 4100 MONROE Road Farmington, NM.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: 8,400 square feet with 1,200 square feet of office space; Fenced 1.24‑acre lot; Shop includes 2 OH doors
