Medical Office
For Sale
$320,000
3501 N BUTLER Avenue, Farmington, NM 87401
Commercial Sale, Farmington, NM
Property Size1,888 SF
Lot Size0.23 Acres
Price / SF$169.49
Days on Market9
Property Features for 3501 N BUTLER Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Office & Profession
Subdivision
Sage Center
Directions
From N. Butler you will turn left on to Sage Center professional suites after passing 30th Street. The suite is in the middle building, suite #103.
Standard status
Active
Size
1,888 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
SAGE CENTER PROFESSIONAL SUITES CONDOMINIUMS CORRECTION PLAT UNIT 13 BLDG C B.1444 P.81
Tax Annual Amount
2902
Legal Description
SAGE CENTER PROFESSIONAL SUITES CONDOMINIUMS CORRECTION PLAT UNIT 13 BLDG C B.1444 P.81
Utilities
Heating system
Natural Gas
Cooling system
Central Air
Building Details
Floors in Building
1
Roof type
Flat
Listing Agency:
Dimmick Realty
(505) 325-8863
Listed By:
David Harris · License #51226
(505) 320-6888
Added: Sep 29
Changed: Oct 1
Last Checked: Oct 7 at 1:06AM
MLS# 26-1221
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.
Investment Insights
Based on property information with market context.
This 1,888-square-foot medical office suite offers a flexible interior for medical, professional, or other office-based operations. Heating is provided by natural gas, and the suite has central air conditioning beneath a flat roof.
The property is located at 3501 N Butler Avenue in Farmington, New Mexico, within San Juan County. The site encompasses 0.23 acres.
The property is located at 3501 N Butler Avenue in Farmington, New Mexico, within San Juan County. The site encompasses 0.23 acres.
Key Highlights
- 1,888‑square‑foot medical office suite
- 0.23‑acre site at 3501 N Butler Avenue in Farmington
- Natural gas heating and central air conditioning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,856
Cap Rate
5.27%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$337,120
$337.1K
Cap Rate 7%
$240,800
$240.8K
Cap Rate 9%
$187,289
$187.3K
Market Conditions
NOI Build-Up for 1,888 SF
Gross rent
$28.1K $14.88/SF
− Vacancy
−$5.6K −$2.98/SF
EGI
$22.5K $11.90/SF
− OpEx
−$5.6K −$2.98/SF
NOI
$16.9K $8.93/SF
Area
San Juan County, NM
Vacancy
20.00%
Lease Rate
$14.88 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$337,120
Cap Rate 7%
$240,800
Cap Rate 9%
$187,289
Alternative Uses
Best Use
Office B
$240.8K
$210.7K – $280.9K
NOI $16,856 @ 7.0% cap · market cap 5.27%
Second Best
Healthcare Medical
$213.1K
$186.4K – $248.6K
NOI $14,914 @ 7.0% cap · market cap 4.66%
Theoretical Best
Office A
$390.6K
$341.8K – $455.7K
NOI $27,340 @ 7.0% cap · market cap 8.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
265
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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Frequently Asked Questions
What type of property is this?
Medical Office Space - The adaptable interior is suited to medical, professional, and other office-based operations.
Where is this medical office space located?
The property is located at 3501 N BUTLER Avenue Farmington, NM.
What is the asking price?
The asking price for this property is $320,000.
What are key features of this property?
This property features: 1,888‑square‑foot medical office suite; 0.23‑acre site at 3501 N Butler Avenue in Farmington; Natural gas heating and central air conditioning
