Historic Office Building on Corner
503 N AUBURN Avenue, Farmington, NM 87401
COMMERCIAL - Farmington, NM
Property size:
2,571 SFLot size:
1.86 AcresPrice / SF:
$145/SF- Added:
- Mar 5, 2024
- Days on Market:
- 819
- Last Refresh:
- Jun 2 at 10:06 am
Property Features for 503 N AUBURN Avenue
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Security features
- Security System
- Standard status
- Active
- Size
- 2,571 SF
- Lot size
- 1.86 Acres
Taxes and HOA fees
- Tax Year
- 2024
- Tax Description
- See Exhibit A BEG N00-34 E 30 FT FROM SW COR SW1/4SE1/4 92913 TH S89-46 E 147 FT, N00-34 E 200 FT, N89-46 W 118.20
- Tax Annual Amount
- 3516
Utilities
- Cooling system
- Central Air
Building Details
- Floors in Building
- 1
Listing agent Pamela Woolley License #36807 (505) 278-8431
Listing office Keller Williams 4251 E Main St, Ste F, Farmington, NM (505) 278-8431
Listing date Mar 5, 2024
MLS# 24-272
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
- Versatile historic building, previously a doctor's and real estate office, now suitable for office or commercial use.
- Handicap accessible with 2 restrooms and a ramped side entrance.
- Ample parking on a large 1.86‑acre corner lot with potential for expansion.
- Features 7‑8 offices, 1‑2 waiting rooms, reception area, kitchen space, and storage/IT room.
- Modern amenities include forced air heating, 2 refrigerated A/C units, and a security system.
- Well‑irrigated grounds enhance the property's appeal.
Overview
This historic building in Farmington offers a versatile space, previously utilized as both a doctor's office and a real estate office. The building features a spacious layout that includes 7 to 8 offices, 1 to 2 waiting rooms, a reception area, and kitchen space. It also contains a storage/IT room. Accessibility is enhanced by 2 handicap-accessible restrooms and a ramped side entrance. Modern amenities include forced air, 2 refrigerated A/C units, and a security system. Situated on a corner lot spanning 1.86 acres, the property provides ample parking with potential for expansion. The grounds are well-irrigated. The building is suited for office or commercial use. The owner will consider leasing the property. The building size is 2571 square feet.
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 | $38.3k | $14.88 |
| − Vacancy | −$7.7k | −$2.98 |
| EGI | $30.6k | $11.90 |
| − OpEx | −$7.7k | −$2.98 |
| NOI | $23.0k | $8.93 |
2,571 SF · lease $14.88/SF/yr · vacancy 20.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$327.9K
$286.9K – $382.6K
NOI $22,954 @ 7.0% cap · market cap 6.12%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$531.9K
$465.4K – $620.5K
NOI $37,231 @ 7.0% cap · market cap 9.93%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Miller Carol W
Physician
Location Insight
- Map
- Local Demand
- City
- Farmington
- County
- San Juan
- State
- New Mexico
- Longitude
- -108.211438
- Latitude
- 36.734292
Nearby Similar for Sale
FAQs
What type of property is this?
Office units - Versatile commercial building with ample parking on 1.86 acres.
Where is this office units located?
The property is located at 503 N AUBURN Avenue Farmington, NM.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Versatile historic building, previously a doctor's and real estate office, now suitable for office or commercial use.; Handicap accessible with 2 restrooms and a ramped side entrance.; Ample parking on a large 1.86‑acre corner lot with potential for expansion.
