Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Waterflow Acreage with Highway Frontage Title is generated by Realmo AI

    3406 US 64, Waterflow, NM 87421

    View on Map
    Claim this Listing
    For Sale
    $325,000

    LAND - Waterflow, NM

    Lot size:
    22.71 Acres
    Added:
    Oct 14, 2025
    Days on Market:
    220
    Last Refresh:
    May 21 at 11:06 am

    Property Features for 3406 US 64

    General Information

    Property type
    Land
    Property subtype
    Other
    Interior features
    Pantry
    Standard status
    Active
    Lot size
    22.71 Acres

    Taxes and HOA fees

    Tax Description
    TRACT 1 BEG A NW COR OF SEC 02 29 16, S 307.69 FT AND E 1312.96 FT, THENCE S86'27'W 91.86 FT, N88'50'W 194.93 FT, S81'
    Tax Annual Amount
    2722

    We can help!

    Listing Contact
    Kara Wood
    Kara Wood

    Listing agent Kara Wood License #14284

    Listing office Kirtland Realty 453 Co Rd 6100, Kirtland, NM

    Listing date Oct 14, 2025

    MLS# 25-1350 Listing URL

    Copyright © 2026 San Juan County Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 22.7 Acreage suitable for subdivision, commercial, or residential development.
    • Approximately 17 acres of irrigated grass hay and pasture with 1878 water rights.
    • Highway frontage on US 64 (approximately 895 feet) and access from Road 6900.
    • Access to electricity and two Lower Valley Water lines including a meter.
    • Irrigation infrastructure includes headgate, valves, and pipe; concrete‑lined ditch.
    • Cross‑fenced for livestock rotation with corrals, pens, feeders, and year‑round waterer.

    Overview

    This 22.7-acre property is located in Waterflow and is currently in agricultural use, but it could be subdivided or developed for commercial or residential purposes. Approximately 17 acres are in grass hay and pasture, irrigated with Jewett Valley Ditch water via a concrete-lined ditch with an 1878 irrigation priority. The irrigation infrastructure includes a headgate, several valves, and pipe. The property is cross-fenced for livestock rotation and management. Approximately 4 non-irrigated acres north of the ditch could serve as a suitable building site. The property has access to electricity and two Lower Valley Water lines, including a meter. Corrals, pens, feeders, a frost-free spigot, and a Richie 4-hole waterer are in place for year-round stock management. The property features approximately 895 feet of highway frontage on US 64, with access from Road 6900 on the northeast corner and northern boundary. Property taxes are currently based on an agricultural rate; the buyer is responsible for verifying the tax rate for their intended use. No mineral rights are conveyed.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Farms

    Map

    City
    Waterflow
    County
    San Juan
    State
    New Mexico
    Longitude
    -108.455
    Latitude
    36.8084

    Nearby Similar for Sale

    • $260,000
      2,988 SF

      Waterflow Commercial Property on US-64

      2.95 acres with shop, residence, and outdoor storage.
      3660 US 64, Waterflow, NM 87421
      View Details
    • $349,000

      20+ Acres with Water Rights

      Expansive 20.65-acre lot with water rights in Waterflow, NM.
      NYA US 64, Waterflow, NM 87421
      View Details

    FAQs

    What type of property is this?
    Farm - 22.7 acres suitable for agricultural, commercial, or residential development.
    Where is this farm located?
    The property is located at 3406 US 64 Waterflow, NM.
    What is the asking price?
    The asking price for this property is $325,000.
    What are key features of this property?
    This property features: 22.7 Acreage suitable for subdivision, commercial, or residential development.; Approximately 17 acres of irrigated grass hay and pasture with 1878 water rights.; Highway frontage on US 64 (approximately 895 feet) and access from Road 6900.
    (505) 598-5818
    We can help!
    Listing Contact
    Kara Wood
    Kara Wood
    Real Estate License ID: 14284
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    3406 US 64, Waterflow, NM 87421
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!