Storefront Property With
For Sale
$100,000
661 W MAIN Street, Farmington, NM 87401
Commercial Sale, Farmington, NM
Property Size791 SF
Lot Size0.22 Acres
Price / SF$126.42
Days on Market94
Property Features for 661 W MAIN Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
General Commercial
Subdivision
MARKLEY ESTATES
Directions
West Main and Intersection of S Schwartz, behind Walters building
Standard status
Active
Size
791 SF
Lot size
0.22 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
BK.1672 PG.753
Tax Annual Amount
892
Legal Description
BK.1672 PG.753
Building Details
Floors in Building
1
Listing Agency:
R1 New Mexico Farmington
(505) 326-0110
Listed By:
Doug Farley · License #REC-2022-0038
(970) 946-6511
Added: May 20
Changed: Aug 19
Last Checked: Aug 21 at 9:06PM
MLS# 26-582
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 storefront property contains a 791-square-foot shop on a narrow parcel at 661 W Main Street in Farmington. City utilities serve the property, and the site is designated within the Farmington Metropolitan Redevelopment Area. Central Business zoning applies, with the buyer responsible for confirming permitted property use.
The property sits beside the Historic Mary Walters Property and next to the parking lot serving Pizza Hut. Its central Farmington setting places the storefront among established nearby commercial and historic uses. The sale is limited to cash buyers.
The property sits beside the Historic Mary Walters Property and next to the parking lot serving Pizza Hut. Its central Farmington setting places the storefront among established nearby commercial and historic uses. The sale is limited to cash buyers.
Key Highlights
- 791‑square‑foot storefront shop
- City utilities serving the property
- Located within the Farmington Metropolitan Redevelopment Area
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
$7,821
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
7.82%
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%
$156,420
$156.4K
Cap Rate 7%
$111,729
$111.7K
Cap Rate 9%
$86,900
$86.9K
Market Conditions
NOI Build-Up for 791 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
$11.7K $14.76/SF
− Vacancy
−$502 −$0.63/SF
EGI
$11.2K $14.13/SF
− OpEx
−$3.4K −$4.24/SF
NOI
$7.8K $9.89/SF
Area
San Juan County, NM
Vacancy
4.30%
Lease Rate
$14.76 /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%
$156,420
Cap Rate 7%
$111,729
Cap Rate 9%
$86,900
Alternative Uses
Best Use
Retail
$111.7K
$97.8K – $130.4K
NOI $7,821 @ 7.0% cap · market cap 7.82%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$163.6K
$143.2K – $190.9K
NOI $11,454 @ 7.0% cap · market cap 11.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,671
Businesses Nearby
75k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 49%
Shops & Services 27%
Groceries 23%
Home Improvements & Furnishings 1%
Safeway
Groceries
17,408 visits/mo
0.3 miles
Starbucks
Dining
17,317 visits/mo
0.2 miles
Family Dollar
Shops & Services
7,981 visits/mo
0.1 miles
Church's Chicken
Dining
7,653 visits/mo
0.3 miles
Pizza Hut
Dining
6,943 visits/mo
0.1 miles
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 Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Bella-Flora & Cafe — 315 N Auburn Ave, Farmington, NM 87401
- Broadway Gifts & Flowers — 717 W Broadway, Farmington, NM 87401
- Farmington Best Florits — 1012 glade ln, farmington, nm 87401
Frequently Asked Questions
What type of property is this?
Storefront property - The site includes city utilities within Farmington’s Metropolitan Redevelopment Area and carries Central Business zoning.
Where is this storefront property located?
The property is located at 661 W MAIN Street Farmington, NM.
What is the asking price?
The asking price for this property is $100,000.
What are key features of this property?
This property features: 791‑square‑foot storefront shop; City utilities serving the property; Located within the Farmington Metropolitan Redevelopment Area
