Fenced Flex Space with Bay
New
For Sale
$395,000
5651 BLOOMFIELD HWY, Farmington, NM 87401
Commercial Sale, Farmington, NM
Property Size5,000 SF
Lot Size0.43 Acres
Price / SF$79
Days on Market6
Property Features for 5651 BLOOMFIELD HWY
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
General Commercial
Subdivision
Town & Country
Directions
Corner of Bloomfield Hwy & Andrea Drive, next to VFW building and next to Farmington Police station.
Standard status
Active
Size
5,000 SF
Lot size
0.43 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
Town and Country Subdivision Part of Tract 3 Beg S71-24E 330
Legal Description
Town and Country Subdivision Part of Tract 3 Beg S71-24E 330
Utilities
Heating system
Natural Gas
Building Details
Floors in Building
1
Listing Agency:
Dimmick Realty
(505) 325-8863
Listed By:
David Harris · License #40873
(505) 320-6888
Added: Sep 16
Last Checked: Sep 21 at 12:06AM
MLS# 26-1168
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 5,000-square-foot flex space occupies a 0.43-acre corner lot in Farmington. The building includes two overhead bay doors, two private offices, and one bathroom, creating a practical configuration for warehouse, shop, contractor, service, or other industrial-related operations. Natural gas heating serves the building, and the fully fenced site adds controlled outdoor space for business activity.
The property is positioned at the corner of Andrea Drive and Bloomfield Hwy, next to the Farmington Police Department. Its corner setting provides direct street exposure and convenient access for vehicles, equipment, and deliveries. The combination of enclosed workspace, office accommodations, bay access, and a secured lot supports a range of commercial users.
The property is positioned at the corner of Andrea Drive and Bloomfield Hwy, next to the Farmington Police Department. Its corner setting provides direct street exposure and convenient access for vehicles, equipment, and deliveries. The combination of enclosed workspace, office accommodations, bay access, and a secured lot supports a range of commercial users.
Key Highlights
- 5,000‑square‑foot flex building on a 0.43‑acre corner lot
- Two overhead bay doors for vehicles, equipment, and deliveries
- Two private offices and one bathroom
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
$30,691
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
7.77%
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%
$613,820
$613.8K
Cap Rate 7%
$438,443
$438.4K
Cap Rate 9%
$341,011
$341.0K
Market Conditions
NOI Build-Up for 5,000 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
$47.4K $9.48/SF
− Vacancy
−$3.6K −$0.71/SF
EGI
$43.8K $8.77/SF
− OpEx
−$13.2K −$2.63/SF
NOI
$30.7K $6.14/SF
Area
San Juan County, NM
Vacancy
7.50%
Lease Rate
$9.48 /SF/Yr
Expense Ratio
30.00%
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%
$613,820
Cap Rate 7%
$438,443
Cap Rate 9%
$341,011
Alternative Uses
Best Use
Warehouse
$532.4K
$465.9K – $621.1K
NOI $37,268 @ 7.0% cap · market cap 9.43%
Second Best
Industrial
$438.4K
$383.6K – $511.5K
NOI $30,691 @ 7.0% cap · market cap 7.77%
Theoretical Best
Office A
$1.03M
$905.1K – $1.21M
NOI $72,405 @ 7.0% cap · market cap 18.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Fenced yard
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
54
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in West region
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Similar Off Market Nearby
- Burrito Guys Catering — 5513 US-64, Farmington, NM 87401
Frequently Asked Questions
What type of property is this?
Flex space - Corner-positioned commercial building with secure fencing, office areas, and overhead access for equipment and deliveries.
Where is this flex space located?
The property is located at 5651 BLOOMFIELD HWY Farmington, NM.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: 5,000‑square‑foot flex building on a 0.43‑acre corner lot; Two overhead bay doors for vehicles, equipment, and deliveries; Two private offices and one bathroom
