Historic Restaurant or Brewery
For Sale
Contact for pricing
Pending
301 E MAIN Street, Farmington, NM 87401
Open-layout commercial building with dedicated off-street parking in Downtown Farmington, NM.
Property Size2,785 SF
Days on Market625
Property Features for 301 E MAIN Street
General Information
Standard status
Pending
Size
2,785 SF
Property subtype
Land
Listing Agency:
Gabaldon Const. & Realty
Listed By:
Amanda Banks · License #50598
(505) 860-5796
Source:
Crexi
Added: Dec 22, 2024
Changed: Aug 8
Last Checked: Jul 24 at 6:53PM
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 Gabaldon Const. & Realty
Investment Insights
Based on property information with market context.
Located at 301 E MAIN Street in Farmington, this distinctive commercial building offers an open layout designed for flexible business use. The property includes dedicated off-street parking for convenient customer and staff access, and it features historical elements and unique architectural character.
Set in the recently rejuvenated Downtown area, the building’s layout and presence make it well suited to businesses such as a restaurant or brewery, with room to tailor the space to a specific concept. The property totals approximately 2,785 square feet, providing a practical footprint for a variety of interior configurations.
For operators and investors seeking a downtown venue with an adaptable interior and on-site parking, this building offers a straightforward platform to create a finished space aligned with the user’s vision.
Set in the recently rejuvenated Downtown area, the building’s layout and presence make it well suited to businesses such as a restaurant or brewery, with room to tailor the space to a specific concept. The property totals approximately 2,785 square feet, providing a practical footprint for a variety of interior configurations.
For operators and investors seeking a downtown venue with an adaptable interior and on-site parking, this building offers a straightforward platform to create a finished space aligned with the user’s vision.
Key Highlights
- Open‑layout commercial building in Downtown Farmington, NM
- Dedicated off‑street parking for customers and staff
- Versatile interior layout designed to adapt to different business needs
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
$17,095
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
6.11%
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%
$341,900
$341.9K
Cap Rate 7%
$244,214
$244.2K
Cap Rate 9%
$189,944
$189.9K
Market Conditions
NOI Build-Up for 2,785 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
$26.4K $9.48/SF
− Vacancy
−$2.0K −$0.71/SF
EGI
$24.4K $8.77/SF
− OpEx
−$7.3K −$2.63/SF
NOI
$17.1K $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%
$341,900
Cap Rate 7%
$244,214
Cap Rate 9%
$189,944
Alternative Uses
Best Use
Specialty Retail
$412.7K
$361.1K – $481.5K
NOI $28,888 @ 7.0% cap · market cap 10.32%
Second Best
Industrial
$244.2K
$213.7K – $284.9K
NOI $17,095 @ 7.0% cap · market cap 6.11%
Theoretical Best
Office A
$576.1K
$504.1K – $672.2K
NOI $40,330 @ 7.0% cap · market cap 14.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,602
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?
Conventional restaurant - Open-layout commercial building with dedicated off-street parking in Downtown Farmington, NM.
Where is this conventional restaurant located?
The property is located at 301 E MAIN Street Farmington, NM.
What is the asking price?
The asking price for this property is $280,000.
What are key features of this property?
This property features: Open‑layout commercial building in Downtown Farmington, NM; Dedicated off‑street parking for customers and staff; Versatile interior layout designed to adapt to different business needs
