Historic Building with Versatile Use

503 N AUBURN Avenue, Farmington, NM 87401

View on Map

For Sale

$375,000

Charming historic building suitable for office or commercial space.

Type:Commercial/Industrial

Property size:

2,571 SF

Lot size:

1.86 Acres

Price / SF:

$145/SF

HighLights

Versatile use: Previously a doctor's and real estate office.
Accessibility: Features 2 handicap‑accessible restrooms and a ramped side entrance.
Ample parking on a large 1.86‑acre corner lot with expansion potential.
Modern amenities: Includes forced air, 2 refrigerated A/C units, and a security system.
Spacious layout: Offers 7‑8 offices, 1‑2 waiting rooms, a reception area, kitchen space, and a storage/IT room.
Charming historic building in a well‑established area.

We can help!

Listing Contact

Barry J Digman

For Sale

$375,000

Charming historic building suitable for office or commercial space.

Type:Commercial/Industrial

Property size:

2,571 SF

Lot size:

1.86 Acres

Price / SF:

$145/SF

Added:: Mar 5, 2024
Days on Market:: 830
Last Refresh:: May 19 at 10:24 pm

Property Features for 503 N AUBURN Avenue

General Information

Standard status: Active
Size: 2,571 SF
Lot size: 1.86 Acres
Property subtype: Commercial/Industrial

We can help!

Listing Contact

Barry J Digman

Listing agent Barry J Digman License #36807

Listing office Keller Williams

Listing date Mar 5, 2024

Source Exitrealty

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 Keller Williams

HighLights

Versatile use: Previously a doctor's and real estate office.
Accessibility: Features 2 handicap‑accessible restrooms and a ramped side entrance.
Ample parking on a large 1.86‑acre corner lot with expansion potential.
Modern amenities: Includes forced air, 2 refrigerated A/C units, and a security system.
Spacious layout: Offers 7‑8 offices, 1‑2 waiting rooms, a reception area, kitchen space, and a storage/IT room.
Charming historic building in a well‑established area.

Overview

This historic building in Farmington offers a versatile space, previously utilized as a doctor's office and a real estate office. The building features a layout that includes 7 to 8 offices, 1 to 2 waiting rooms, a reception area, and kitchen space. It also contains a storage/IT room. Accessibility is enhanced by 2 handicap-accessible restrooms and a ramped side entrance. Modern amenities include forced air, 2 refrigerated A/C units, and a security system. Situated on a corner lot spanning 1.86 acres, the property provides ample parking with potential for expansion. The grounds are well-irrigated. The owner will consider leasing the property.

Local Financial Insights For Office B

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$38.3k	$14.88
− Vacancy	−$7.7k	−$2.98
EGI	$30.6k	$11.90
− OpEx	−$7.7k	−$2.98
NOI	$23.0k	$8.93

2,571 SF · lease $14.88/SF/yr · vacancy 20.00% · expense 25.00%

Alternative Uses

Best Use

Office B

$327.9K

$286.9K – $382.6K (±1% cap)

NOI $22,954 @ 7.0% cap · market cap 6.12%

Second Best

Healthcare Medical

$290.1K

$253.9K – $338.5K (±1% cap)

NOI $20,310 @ 7.0% cap · market cap 5.42%

Theoretical Best

Office A

$531.9K

$465.4K – $620.5K (±1% cap)

NOI $37,231 @ 7.0% cap · market cap 9.93%

Zoning and permitted uses should be independently verified with local authorities.

Property Profile Location Intelligence

Current Use by Public Records

Miller Carol W Physician

Suggested Use

Similar Places Nearby

Animal Haven Veterinary — Farmington, NM 87401

Location Insight

Map
Local Demand

City: Farmington
County: San Juan
State: New Mexico
Longitude: -108.211
Latitude: 36.7343

Nearby Similar for Sale

$460,000

7,750 SF

Farmington Commercial Investment Opportunity

Two-story, 7,750 SF commercial building with recent updates.

120 S COMMERCIAL Avenue, Farmington, NM 87401

View Details
$410,000

7,943 SF

Farmington Commercial Property on US-64

Versatile commercial building with highway frontage and endless possibilities.

5641 BLOOMFIELD HWY, Farmington, NM 87401

View Details
$1,299,000

12,256 SF

Farmington Commercial Complex For Sale

High-visibility commercial complex with income potential in a prime location.

3300 N BUTLER Avenue, Farmington, NM 87401

View Details
$750,000

8,400 SF

Farmington Industrial Property For Sale

8,400 SF industrial property with office space on 1.24 acres.

4100 MONROE Road, Farmington, NM 87401

View Details
$2,900,000

16,498 SF

Modern Multi-Use Commercial Building

Upscale commercial property with high-income tenant and expansion potential.

2050 KNUDSEN Avenue, Farmington, NM 87401

View Details
$435,000

6,000 SF

Farmington Commercial Property For Sale

Two buildings on 0.91 acres suitable for automotive or industrial.

660 S DUSTIN Road, Farmington, NM 87401

View Details
$300,000

3,240 SF

Farmington Commercial Property For Sale

Commercial property in high-traffic area suitable for retail or office.

1100 E MURRAY Drive, Farmington, NM 87401

View Details
$130,000

1,370 SF

Two-Story Office Suite

Two-story office with multiple rooms, half bath, and three-quarter bath, plus off-street parking and utilities covered by HOA.

3005 NORTHRIDGE Drive, Farmington, NM 87401

View Details
$1,200,000

7,200 SF

Farmington Mixed-Use Commercial Building

Two-story commercial building with residential build-out in Farmington, NM.

729 E MAIN Street, Farmington, NM 87401

View Details
$900,000

5,389 SF

Farmington Commercial Building For Sale

Meticulously designed commercial building in prime Farmington location.

5920 E MAIN Street, Farmington, NM 87402

View Details
$275,000

1,974 SF

Fenced Nursery & Garden Center

Secure, fenced site with an existing building and extensive outdoor space for storage, contractor operations, or retail uses.

1817-1825 SCHOFIELD Lane, Farmington, NM 87401

View Details
$699,000

1,734 SF

Flea Market with Concession Building

Event-ready concession building with take-out windows and grill, supported by large vendor-capacity grounds.

7701 E MAIN Street, Farmington, NM 87402

View Details

For sale
Medical Office Space
NM
Farmington
87401
503 N AUBURN Avenue

What type of property is this?

Medical Office Space - Charming historic building suitable for office or commercial space.

Where is this medical office space located?

The property is located at 503 N AUBURN Avenue Farmington, NM.

What is the asking price?

The asking price for this property is $375,000.

What are key features of this property?

This property features: Versatile use: Previously a doctor's and real estate office.; Accessibility: Features 2 handicap‑accessible restrooms and a ramped side entrance.; Ample parking on a large 1.86‑acre corner lot with expansion potential.