Street-Level Retail
For Sale
$550,000
106 W Main St, Farmington, NM 87401
Open-plan space features expansive storefront glass, prominent exposure, and rear service access.
Property Size4,200 SF
Price / SF$130.95
Days on Market361
Property Features for 106 W Main St
General Information
Standard status
Active
Size
4,200 SF
Property subtype
Retail
Zoning
CB
Additional Details
Floor
Ground
Amenities
expansive storefront glass
rear/service access
Listing Agency:
Realty One of New Mexico dba R1 Commercial
(505) 259-3525
Listed By:
Brandon Caalim · License #53328
(505) 259-3525
Source:
Carnm.resimplifi
Added: Sep 4, 2025
Changed: Aug 29
Last Checked: Aug 30 at 1:39PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Realty One of New Mexico dba R1 Commercial
Investment Insights
Based on property information with market context.
This approximately 4,200-square-foot, street-level storefront is configured for retail or service use, with an open interior, broad display windows, and bright interior space. The property also provides rear service access and is zoned CB. Potential applications identified for the space include boutique retail, a gallery, studio, specialty food or beverage, salon or spa, and professional services, subject to buyer or tenant verification.
Located at 106 W Main St in downtown Farmington, the property directly adjoins Orchard Park and benefits from Main Street exposure. Restaurants, bars, and shops are within walking distance, while nearby street and public parking support customer access. Downtown events contribute to pedestrian activity during both daytime and evening hours.
Located at 106 W Main St in downtown Farmington, the property directly adjoins Orchard Park and benefits from Main Street exposure. Restaurants, bars, and shops are within walking distance, while nearby street and public parking support customer access. Downtown events contribute to pedestrian activity during both daytime and evening hours.
Key Highlights
- Approximately 4,200 SF of street‑level retail space
- Directly adjacent to Orchard Park in downtown Farmington
- Prominent Main Street exposure with large display windows
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
$41,528
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
7.55%
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%
$830,560
$830.6K
Cap Rate 7%
$593,257
$593.3K
Cap Rate 9%
$461,422
$461.4K
Market Conditions
NOI Build-Up for 4,200 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
$62.0K $14.76/SF
− Vacancy
−$2.7K −$0.63/SF
EGI
$59.3K $14.13/SF
− OpEx
−$17.8K −$4.24/SF
NOI
$41.5K $9.89/SF
Area
San Juan County, NM
Vacancy
4.30%
Lease Rate
$14.76 /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%
$830,560
Cap Rate 7%
$593,257
Cap Rate 9%
$461,422
Alternative Uses
Best Use
Retail
$593.3K
$519.1K – $692.1K
NOI $41,528 @ 7.0% cap · market cap 7.55%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$868.9K
$760.3K – $1.01M
NOI $60,820 @ 7.0% cap · market cap 11.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,278
Businesses Nearby
72k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 63%
Dining 36%
Home Improvements & Furnishings 1%
Dollar Tree
Shops & Services
20,869 visits/mo
0.5 miles
Blake's LotaBurger
Dining
10,221 visits/mo
0.3 miles
Dollar General
Shops & Services
9,862 visits/mo
0.5 miles
KFC
Dining
8,788 visits/mo
0.5 miles
Family Dollar
Shops & Services
7,981 visits/mo
0.5 miles
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 Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Broadway Gifts & Flowers — 717 W Broadway, Farmington, NM 87401
- Bella-Flora & Cafe — 315 N Auburn Ave, Farmington, NM 87401
Frequently Asked Questions
What type of property is this?
Storefront property - Open-plan space features expansive storefront glass, prominent exposure, and rear service access.
Where is this storefront property located?
The property is located at 106 W Main St Farmington, NM.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Approximately 4,200 SF of street‑level retail space; Directly adjacent to Orchard Park in downtown Farmington; Prominent Main Street exposure with large display windows
