Flex Space with Ample
For Sale
Contact for pricing
1100 E MURRAY Drive, Farmington, NM 87401
Adaptable commercial space supports retail, office, or service-oriented operations in Farmington.
Property Size3,240 SF
Price / SF$92.59
Days on Market159
Property Features for 1100 E MURRAY Drive
General Information
Standard status
Active
Size
3,240 SF
Property subtype
Land
Listing Agency:
RE/MAX of Farmington
Listed By:
Amanda Padilla
Source:
Crexi
Added: Mar 26
Changed: Aug 30
Last Checked: Aug 30 at 3:15AM
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 RE/MAX of Farmington
Investment Insights
Based on property information with market context.
This 3,240-square-foot flex property at 1100 E Murray Drive provides a versatile commercial footprint with ample parking. The space is positioned for retail, office, or service use, giving occupants flexibility to align the layout with their operational needs.
The property is located in Farmington, NM, in a high-traffic commercial area with strong exposure along E Murray Drive. Its adaptable format can accommodate businesses seeking a visible presence and convenient on-site parking.
The property is located in Farmington, NM, in a high-traffic commercial area with strong exposure along E Murray Drive. Its adaptable format can accommodate businesses seeking a visible presence and convenient on-site parking.
Key Highlights
- 3,240‑square‑foot flex property
- Ample on‑site parking
- Suitable for retail, office, or service use
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
$19,888
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
6.63%
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%
$397,760
$397.8K
Cap Rate 7%
$284,114
$284.1K
Cap Rate 9%
$220,978
$221.0K
Market Conditions
NOI Build-Up for 3,240 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
$30.7K $9.48/SF
− Vacancy
−$2.3K −$0.71/SF
EGI
$28.4K $8.77/SF
− OpEx
−$8.5K −$2.63/SF
NOI
$19.9K $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%
$397,760
Cap Rate 7%
$284,114
Cap Rate 9%
$220,978
Alternative Uses
Best Use
Industrial
$284.1K
$248.6K – $331.5K
NOI $19,888 @ 7.0% cap · market cap 6.63%
Second Best
Flex RnD
$187.0K
$163.6K – $218.2K
NOI $13,091 @ 7.0% cap · market cap 4.36%
Theoretical Best
Office A
$670.3K
$586.5K – $782.0K
NOI $46,919 @ 7.0% cap · market cap 15.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
266
Businesses Nearby
Under-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
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Frequently Asked Questions
What type of property is this?
Flex space - Adaptable commercial space supports retail, office, or service-oriented operations in Farmington.
Where is this flex space located?
The property is located at 1100 E MURRAY Drive Farmington, NM.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: 3,240‑square‑foot flex property; Ample on‑site parking; Suitable for retail, office, or service use
