Flex Space with Fenced
For Sale
$649,000
Pending
900 RESOURCE Avenue, Farmington, NM 87401
Commercial Sale, Farmington, NM
Property Size6,360 SF
Days on Market697
Property Features for 900 RESOURCE Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Industrial
Security features
Security Lighting
Subdivision
Animas Industrial park
Directions
From US 64 (Bloomfield Highway) turn North on Resource Ave. Property is at the end of the street.
Standard status
Pending
Size
6,360 SF
Taxes and HOA fees
Tax Description
Lot 4 of the Animas Industrial Park Replat B1037 P357
Legal Description
Lot 4 of the Animas Industrial Park Replat B1037 P357
Utilities
Cooling system
Central Air
Amenities
Reception area
Private offices
Break room
Training room
Conference room
Building Details
Floors in Building
1
Listing Agency:
Dimmick Realty
(505) 325-8863
Listed By:
David Harris · License #12831
(505) 325-8863
Added: Sep 30, 2024
Changed: Aug 19
Last Checked: Aug 27 at 11:06PM
MLS# 24-1193
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 6,360-square-foot flex property combines office and warehouse components under one commercial asset. The office layout includes a reception area, 12 private offices, a large break room, training room, and conference room. Central air is installed, and a separate shop building provides an overhead door for operational flexibility.
A fenced yard extends the property’s functional footprint for outdoor storage or work-related needs. The building currently serves as the Jaynes Corporation Farmington headquarters, with occupancy scheduled to end by 12-31-24.
A fenced yard extends the property’s functional footprint for outdoor storage or work-related needs. The building currently serves as the Jaynes Corporation Farmington headquarters, with occupancy scheduled to end by 12-31-24.
Key Highlights
- 6,360 square feet of flex office and warehouse space
- 12 private offices plus reception, training, and conference rooms
- Separate shop building with an overhead door
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
$56,782
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
8.75%
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%
$1,135,640
$1.1M
Cap Rate 7%
$811,171
$811.2K
Cap Rate 9%
$630,911
$630.9K
Market Conditions
NOI Build-Up for 6,360 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
$94.6K $14.88/SF
− Vacancy
−$18.9K −$2.98/SF
EGI
$75.7K $11.90/SF
− OpEx
−$18.9K −$2.98/SF
NOI
$56.8K $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 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%
$1,135,640
Cap Rate 7%
$811,171
Cap Rate 9%
$630,911
Alternative Uses
Best Use
Office B
$811.2K
$709.8K – $946.4K
NOI $56,782 @ 7.0% cap · market cap 8.75%
Second Best
Warehouse
$677.2K
$592.6K – $790.1K
NOI $47,405 @ 7.0% cap · market cap 7.30%
Theoretical Best
Office A
$1.32M
$1.15M – $1.53M
NOI $92,099 @ 7.0% cap · market cap 14.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
154
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
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Office and warehouse areas include a separate shop building with an overhead door and fenced yard.
Where is this flex space located?
The property is located at 900 RESOURCE Avenue Farmington, NM.
What is the asking price?
The asking price for this property is $649,000.
What are key features of this property?
This property features: 6,360 square feet of flex office and warehouse space; 12 private offices plus reception, training, and conference rooms; Separate shop building with an overhead door
