Commercial Office Building on Corner
1703 W Main St Farmington, NM 87401
1703 W Main St, Farmington, NM, 87401
$899,000
For Sale
$899,000
Commercial office building on 3.9 acre lot, both suites leased.
Property Size6,300 SF
Lot Size3.87 Acres
Price / SF$142.70
Days on Market172
Property Features for 1703 W Main St
General Information
- Standard status
- Active
- Size
- 6,300 SF
- Lot size
- 3.87 Acres
Listing Agency
Dimmick Realty
(505) 330-9694
Listed by
Anita M Hagen · License #40873
(505) 330-9694
Source
Exprealty
Added: Jan 26 Checked: Jul 16 at 9:29 pm
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 Dimmick Realty
Investment Insights
Based on property information with market context.
This commercial office building is positioned on a 3.9-acre level lot at the corner of Murray Drive and West Main. The location benefits from high traffic and visibility. The building provides 6,300 square feet of office space, divided into two suites, both of which are currently leased. The building is in excellent condition. The large lot offers possibilities.
Key Highlights
- Prime commercial office building on a high‑traffic corner lot.
- 3.9‑acre lot offers endless possibilities for expansion or development.
- 6,300 sq ft of office space divided into 2 leased suites.
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $93.7k | $14.88 |
| − Vacancy | −$18.7k | −$2.98 |
| EGI | $75.0k | $11.90 |
| − OpEx | −$18.7k | −$2.98 |
| NOI | $56.2k | $8.93 |
6,300 SF · lease $14.88/SF/yr · vacancy 20.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$803.5K
$703.1K – $937.4K
NOI $56,246 @ 7.0% cap · market cap 6.26%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.30M
$1.14M – $1.52M
NOI $91,230 @ 7.0% cap · market cap 10.15%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Redeemed
Church
Auto Insurance Plus, ...
Insurance Agency
Auto Insurance Plus: ...
Insurance Agency
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FAQs
What type of property is this?
Office building - Commercial office building on 3.9 acre lot, both suites leased.
Where is this office building located?
The property is located at 1703 W Main St Farmington, NM.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Prime commercial office building on a high‑traffic corner lot.; 3.9‑acre lot offers endless possibilities for expansion or development.; 6,300 sq ft of office space divided into 2 leased suites.
