Office Building with Private
For Sale
$375,000
503 N Auburn Ave, Farmington, NM 87401
Commercial Sale, Farmington, NM
Property Size2,571 SF
Lot Size1.86 Acres
Price / SF$145.86
Days on Market90
Property Features for 503 N Auburn Ave
General Information
Property type
Commercial Sale
Property subtype
Other
Appliances
Water Heater
Directions
NW Corner of Auburn and Apache.
Subdivision
New Mexico Mls
Standard status
Active
APN
2076172273012
Size
2,571 SF
Lot size
1.86 Acres
Taxes and HOA fees
Tax Description
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 FT, N71-03 W 71.15
Tax Annual Amount
3344
Legal Description
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 FT, N71-03 W 71.15
Utilities
Heating system
Natural Gas, Forced Air
Amenities
antique fireplace
covered front deck
kitchen/break room
detached storage shed
mature shade trees
Building Details
Year built
1910
Roof type
Shingle
Listing Agency:
Exp Realty, LLC
(505) 554-3873
Listed By:
Allen Elmore · License #53691
(505) 686-3831
Added: Jul 21
Changed: Oct 8
Last Checked: Oct 18 at 3:06PM
MLS# 20264173
Copyright © 2026 New Mexico MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 2,571-square-foot office building occupies a 1.86-acre parcel and contains eight private offices, four storage rooms, two bathrooms, a kitchen and break area, and reception and waiting spaces. Other features include a covered front deck, an antique fireplace, central HVAC, a detached storage shed, and a 40-gallon water heater. The building was constructed in 1910 and includes an ADA-accessible side entrance. Parking accommodates vehicles including RVs, buses, and fleet vehicles.
The property sits at the corner of N Auburn Avenue and Apache Street, near Downtown Farmington. Approximately 1.45 acres carry Office & Professional zoning; the balance is zoned Single Family-7. Current zoning permits several business and care-related uses, including medical and professional offices, group care, senior living, daycare, salons, and bed and breakfast use. Residential uses may require rezoning.
The property sits at the corner of N Auburn Avenue and Apache Street, near Downtown Farmington. Approximately 1.45 acres carry Office & Professional zoning; the balance is zoned Single Family-7. Current zoning permits several business and care-related uses, including medical and professional offices, group care, senior living, daycare, salons, and bed and breakfast use. Residential uses may require rezoning.
Key Highlights
- 2,571‑square‑foot office building on 1.86 acres
- Eight private offices, four storage rooms, and two bathrooms
- Approximately 1.45 acres zoned Office & Professional; remainder zoned Single Family‑7
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,954
Cap Rate
6.12%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$459,080
$459.1K
Cap Rate 7%
$327,914
$327.9K
Cap Rate 9%
$255,044
$255.0K
Market Conditions
NOI Build-Up for 2,571 SF
Gross rent
$38.3K $14.88/SF
− Vacancy
−$7.7K −$2.98/SF
EGI
$30.6K $11.90/SF
− OpEx
−$7.7K −$2.98/SF
NOI
$23.0K $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%
$459,080
Cap Rate 7%
$327,914
Cap Rate 9%
$255,044
Alternative Uses
Best Use
Office B
$327.9K
$286.9K – $382.6K
NOI $22,954 @ 7.0% cap · market cap 6.12%
Second Best
Healthcare Medical
$290.1K
$253.9K – $338.5K
NOI $20,310 @ 7.0% cap · market cap 5.42%
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 authorities.
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Property Analytics
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Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,494
Businesses Nearby
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
Frequently Asked Questions
What type of property is this?
Office building - An ADA-accessible entrance, on-site parking, and a flexible office layout support professional operations.
Where is this office building located?
The property is located at 503 N Auburn Ave 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: 2,571‑square‑foot office building on 1.86 acres; Eight private offices, four storage rooms, and two bathrooms; Approximately 1.45 acres zoned Office & Professional; remainder zoned Single Family‑7
