Mixed-Use Building with Live-Work
For Sale
Contact for pricing
729 E MAIN Street, Farmington, NM 87401
Upper-level residential improvements pair with commercial space on the main floor.
Property Size7,200 SF
Price / SF$166.67
Days on Market148
Property Features for 729 E MAIN Street
General Information
Standard status
Active
Size
7,200 SF
Property subtype
Land
Building Details
Buildings
1
Stories
2
Listing Agency:
R1 New Mexico Farmington
(505) 360-8886
Listed By:
Ron Kronig · License #REC20250711
Source:
Crexi
Added: Apr 5
Changed: Aug 30
Last Checked: Aug 30 at 7:01AM
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 R1 New Mexico Farmington
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 = 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
$71,192
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
5.93%
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%
$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
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
$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 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%
$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 5.93%
Second Best
Office B
$918.3K
$803.5K – $1.07M
NOI $64,282 @ 7.0% cap · market cap 5.36%
Theoretical Best
Office A
$1.49M
$1.30M – $1.74M
NOI $104,263 @ 7.0% cap · market cap 8.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
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
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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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 Street Farmington, NM.
What is the asking price?
The asking price for this property is $1,200,000.
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
