Flex Space with Highway
For Sale
$450,000
3650 BLOOMFIELD HWY, Farmington, NM 87401
Commercial Sale, Farmington, NM
Property Size4,480 SF
Lot Size1.42 Acres
Price / SF$100.45
Days on Market157
Property Features for 3650 BLOOMFIELD HWY
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Industrial
Directions
Main Street to Browning Parkway, turn right on US 64/Bloomfield Highway, HME building on right.
Subdivision
Blmfld Hwy - Farm
Standard status
Active
Size
4,480 SF
Lot size
1.42 Acres
Taxes and HOA fees
Tax Description
B.1289 P.808 B.1380 P.1095
Tax Annual Amount
4013
Legal Description
B.1289 P.808 B.1380 P.1095
Utilities
Heating system
Natural Gas
Cooling system
Evaporative Cooling
Listing Agency:
Real Estate PROS
(505) 588-7767
Listed By:
Brandon Ryan · License #19754
(505) 588-7767
Added: Mar 24
Changed: Aug 19
Last Checked: Aug 27 at 9:06PM
MLS# 26-333
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 4,480-square-foot flex property occupies 1.42 acres at 3650 Bloomfield Highway in Farmington. The adaptable commercial layout is positioned for retail, office, or service-based operations, offering functional flexibility for a range of business formats. Natural gas heating and evaporative cooling are in place.
The property fronts Bloomfield Highway and is situated among established businesses with steady traffic flow. Its Farmington location provides direct highway access and a visible setting for commercial activity. The combination of flexible interior space, highway exposure, and a substantial site supports consideration by businesses seeking a retail, office, or service location.
The property fronts Bloomfield Highway and is situated among established businesses with steady traffic flow. Its Farmington location provides direct highway access and a visible setting for commercial activity. The combination of flexible interior space, highway exposure, and a substantial site supports consideration by businesses seeking a retail, office, or service location.
Key Highlights
- 4,480‑square‑foot flex property
- 1.42‑acre commercial site
- Highway frontage at 3650 Bloomfield Highway
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
$33,392
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
7.42%
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%
$667,840
$667.8K
Cap Rate 7%
$477,029
$477.0K
Cap Rate 9%
$371,022
$371.0K
Market Conditions
NOI Build-Up for 4,480 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
$42.5K $9.48/SF
− Vacancy
−$3.2K −$0.71/SF
EGI
$39.3K $8.77/SF
− OpEx
−$5.9K −$1.32/SF
NOI
$33.4K $7.45/SF
Area
San Juan County, NM
Vacancy
7.50%
Lease Rate
$9.48 /SF/Yr
Expense Ratio
15.00%
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%
$667,840
Cap Rate 7%
$477,029
Cap Rate 9%
$371,022
Alternative Uses
Best Use
Warehouse
$477.0K
$417.4K – $556.5K
NOI $33,392 @ 7.0% cap · market cap 7.42%
Second Best
Industrial
$392.9K
$343.8K – $458.3K
NOI $27,500 @ 7.0% cap · market cap 6.11%
Theoretical Best
Office A
$926.8K
$810.9K – $1.08M
NOI $64,875 @ 7.0% cap · market cap 14.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
148
Businesses Nearby
Well-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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Adaptable commercial space accommodates retail, office, or service-based operations.
Where is this flex space located?
The property is located at 3650 BLOOMFIELD HWY Farmington, NM.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: 4,480‑square‑foot flex property; 1.42‑acre commercial site; Highway frontage at 3650 Bloomfield Highway
