Commercial Land with Existing
For Sale
$499,000
4130 US 64, Kirtland, NM 87417
Commercial Sale, Kirtland, NM
Property Size3,044 SF
Lot Size3.05 Acres
Price / SF$163.93
Days on Market202
Property Features for 4130 US 64
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Central Business, General Commercial, Single-Fam MH
Directions
West on US 64 from Farmington, property is on the north side of the Hwy, approximately 1/2 mile west of the light.
Subdivision
Kirt/Fruit N 64
Standard status
Active
Size
3,044 SF
Lot size
3.05 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
E1/2SE/NE/NW OF SEC 12 29 15, THENCE S0-15W 458.41 LYING NORTH OF HWY, N71-01W 348.63, S89-17E 329.75 TO PT OF BEG. BK
Tax Annual Amount
4884
Legal Description
E1/2SE/NE/NW OF SEC 12 29 15, THENCE S0-15W 458.41 LYING NORTH OF HWY, N71-01W 348.63, S89-17E 329.75 TO PT OF BEG. BK
Utilities
Heating system
Natural Gas
Cooling system
Evaporative Cooling
Building Details
Floors in Building
1
Listing Agency:
Real Estate PROS
Listed By:
Brandon Ryan · License #53887
(505) 588-7767
Added: Feb 23
Changed: Aug 19
Last Checked: Sep 13 at 12:06PM
MLS# 26-213
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 3.05-acre commercial land parcel includes existing improvements: a 2,148-square-foot restaurant and a 14-by-60 manufactured home. The site also has natural gas heating and evaporative cooling. City water and sewer are available, providing established utility infrastructure for the property.
The parcel fronts US Highway 64 in Kirtland, New Mexico, with the source information identifying the corridor as heavily traveled. The remaining acreage is described as suitable for potential commercial development, including retail or service uses, additional buildings, mini storage, mobile home or RV park use, and truck or trailer parking with equipment storage.
The combination of highway frontage, existing structures, available municipal utilities, and additional land creates a property with both current improvements and room for further site development.
The parcel fronts US Highway 64 in Kirtland, New Mexico, with the source information identifying the corridor as heavily traveled. The remaining acreage is described as suitable for potential commercial development, including retail or service uses, additional buildings, mini storage, mobile home or RV park use, and truck or trailer parking with equipment storage.
The combination of highway frontage, existing structures, available municipal utilities, and additional land creates a property with both current improvements and room for further site development.
Key Highlights
- 3.05‑acre commercial land parcel with existing improvements
- 2,148‑square‑foot restaurant included on site
- 14x60 manufactured home included
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
$31,574
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
6.33%
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%
$631,480
$631.5K
Cap Rate 7%
$451,057
$451.1K
Cap Rate 9%
$350,822
$350.8K
Market Conditions
NOI Build-Up for 3,044 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
$44.9K $14.76/SF
− Vacancy
−$2.8K −$0.93/SF
EGI
$42.1K $13.83/SF
− OpEx
−$10.5K −$3.46/SF
NOI
$31.6K $10.37/SF
Area
San Juan County, NM
Vacancy
6.30%
Lease Rate
$14.76 /SF/Yr
Expense Ratio
25.00%
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%
$631,480
Cap Rate 7%
$451,057
Cap Rate 9%
$350,822
Alternative Uses
Best Use
Specialty Retail
$451.1K
$394.7K – $526.2K
NOI $31,574 @ 7.0% cap · market cap 6.33%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$629.7K
$551.0K – $734.7K
NOI $44,080 @ 7.0% cap · market cap 8.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
117
Businesses Nearby
52k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Dollar Tree
Shops & Services
15,400 visits/mo
0.4 miles
Speedway
Shops & Services
10,881 visits/mo
0.3 miles
Family Dollar
Shops & Services
9,226 visits/mo
0.4 miles
Dollar General
Shops & Services
7,044 visits/mo
0.4 miles
AutoZone
Shops & Services
5,838 visits/mo
0.4 miles
Demographics for 87417, NM
5,838
Population
1,961
Households
3
Avg Household Size
35
Median Age
11%
College-Educated
90%
High-School Grad
11.1 sq mi
ZIP Area
526
Density / Sq Mi
$65,396
Median Household Income
$35,246
Median Earnings
$799
Median Rent
$180,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial land - Highway-oriented parcel includes a restaurant, manufactured home, and access to city water and sewer.
Where is this commercial land located?
The property is located at 4130 US 64 Kirtland, NM.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: 3.05‑acre commercial land parcel with existing improvements; 2,148‑square‑foot restaurant included on site; 14x60 manufactured home included
