Mixed-Use Building with Live-Work
For Sale
$960,000
729 E Main St, Farmington, NM 87401
Upper-level residential improvements pair with commercial space on the main floor.
Property Size7,200 SF
Price / SF$133.33
Days on Market87
Property Features for 729 E Main St
General Information
Standard status
Active
Size
7,200 SF
Taxes and HOA fees
Annual Taxes
$8,705
Building Details
Buildings
1
Stories
2
Listing Agency:
eXp Realty, LLC
Listed By:
Allen Elmore · License #53691
(505) 686-3831
Source:
Exprealty
Added: Jul 21
Changed: Oct 11
Last Checked: Oct 12 at 8:58PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of eXp Realty, LLC
Investment Insights
Based on property information with market context.
Positioned at 729 E Main Street in Farmington, New Mexico, this two-story mixed-use building contains 7,200 square feet of space. The upper floor includes a 2,400-square-foot residential build-out, while the main level provides commercial area for retail, office, or service-oriented operations.
The property’s combined commercial and residential configuration supports live-work use within one building. The upper-level residence may also accommodate owner occupancy, staff housing, or additional rental use, subject to applicable requirements. This arrangement gives the property both a business component and a dedicated residential component without separating the uses across different locations.
The property’s combined commercial and residential configuration supports live-work use within one building. The upper-level residence may also accommodate owner occupancy, staff housing, or additional rental use, subject to applicable requirements. This arrangement gives the property both a business component and a dedicated residential component without separating the uses across different locations.
Key Highlights
- 7,200‑square‑foot mixed‑use building
- Two‑story configuration with commercial and residential components
- 2,400‑square‑foot residential build‑out on the upper level
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$71,192
Cap Rate
7.42%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,423,840
$1.4M
Cap Rate 7%
$1,017,029
$1.0M
Cap Rate 9%
$791,022
$791.0K
Market Conditions
NOI Build-Up for 7,200 SF
Gross rent
$106.3K $14.76/SF
− Vacancy
−$4.6K −$0.63/SF
EGI
$101.7K $14.13/SF
− OpEx
−$30.5K −$4.24/SF
NOI
$71.2K $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 Rate 5%
$1,423,840
Cap Rate 7%
$1,017,029
Cap Rate 9%
$791,022
Alternative Uses
Best Use
Retail
$1.02M
$889.9K – $1.19M
NOI $71,192 @ 7.0% cap · market cap 7.42%
Second Best
Office B
$918.3K
$803.5K – $1.07M
NOI $64,282 @ 7.0% cap · market cap 6.70%
Theoretical Best
Office A
$1.49M
$1.30M – $1.74M
NOI $104,263 @ 7.0% cap · market cap 10.86%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Location Intelligence
Trade Area within ½ mile
629
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
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Upper-level residential improvements pair with commercial space on the main floor.
Where is this mixed-use property located?
The property is located at 729 E Main St Farmington, NM.
What is the asking price?
The asking price for this property is $960,000.
What are key features of this property?
This property features: 7,200‑square‑foot mixed‑use building; Two‑story configuration with commercial and residential components; 2,400‑square‑foot residential build‑out on the upper level
