Office-Warehouse Flex
For Sale
$299,900
1503 Schofield Ln, Farmington, NM 87401
Includes dedicated office space with multiple private offices and a separate warehouse area for storage or distribution.
Property Size5,544 SF
Price / SF$54.09
Days on Market167
Property Features for 1503 Schofield Ln
General Information
Standard status
Active
Size
5,544 SF
Listing Agency:
Real Broker, LLC
Listed By:
Bryan D Crawford · License #50122
(505) 501-8887
Source:
Exprealty
Added: Apr 24
Changed: Sep 6
Last Checked: Oct 5 at 11:27PM
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 Real Broker, LLC
Investment Insights
Based on property information with market context.
This versatile flex property combines professional office space with functional warehouse capacity in one location. The office portion totals 2,184 square feet and is set up with four or more private offices, supporting administrative work and team collaboration. The remaining 3,360 square feet is warehouse space intended for storage, distribution, or light industrial use.
As a single, combined asset, the layout is designed to support day-to-day operations that need both client-facing or office functions and a dedicated area for handling goods or materials.
Overall, the property provides a practical mix of private office configuration and warehouse capacity, offering a straightforward setup for businesses that require both working space and storage in the same facility.
As a single, combined asset, the layout is designed to support day-to-day operations that need both client-facing or office functions and a dedicated area for handling goods or materials.
Overall, the property provides a practical mix of private office configuration and warehouse capacity, offering a straightforward setup for businesses that require both working space and storage in the same facility.
Key Highlights
- Total 5,544 SF commercial building with a combined office and warehouse layout
- 2,184 SF office area with four or more private offices for administrative and client use
- 3,360 SF warehouse space for storage, distribution, or light industrial operations
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,400
Cap Rate
7.47%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$448,000
$448.0K
Cap Rate 7%
$320,000
$320.0K
Cap Rate 9%
$248,889
$248.9K
Market Conditions
NOI Build-Up for 5,544 SF
Gross rent
$37.3K $6.72/SF
− Vacancy
−$2.8K −$0.50/SF
EGI
$34.5K $6.22/SF
− OpEx
−$12.1K −$2.18/SF
NOI
$22.4K $4.04/SF
Area
San Juan County, NM
Vacancy
7.50%
Lease Rate
$6.72 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$448,000
Cap Rate 7%
$320,000
Cap Rate 9%
$248,889
Alternative Uses
Best Use
Office B
$707.1K
$618.7K – $825.0K
NOI $49,497 @ 7.0% cap · market cap 16.50%
Second Best
Warehouse
$590.3K
$516.5K – $688.7K
NOI $41,323 @ 7.0% cap · market cap 13.78%
Theoretical Best
Office A
$1.15M
$1.00M – $1.34M
NOI $80,283 @ 7.0% cap · market cap 26.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
696
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
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Similar Off Market Nearby
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Frequently Asked Questions
What type of property is this?
Flex space - Includes dedicated office space with multiple private offices and a separate warehouse area for storage or distribution.
Where is this flex space located?
The property is located at 1503 Schofield Ln Farmington, NM.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: Total 5,544 SF commercial building with a combined office and warehouse layout; 2,184 SF office area with four or more private offices for administrative and client use; 3,360 SF warehouse space for storage, distribution, or light industrial operations
