Office/Warehouse Property in
For Sale
Contact for pricing
Pending
900 RESOURCE Avenue, Farmington, NM 87401
Office and warehouse property with shop building and fenced yard.
Property Size6,360 SF
Days on Market696
Property Features for 900 RESOURCE Avenue
General Information
Standard status
Pending
Size
6,360 SF
Property subtype
Industrial
Listing Agency:
Dimmick Realty
(505) 320-6888
Listed By:
David Harris · License #48740
Source:
Crexi
Added: Oct 1, 2024
Changed: Aug 8
Last Checked: Jul 24 at 11:48AM
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 Dimmick Realty
Investment Insights
Based on property information with market context.
This property, currently the Jaynes Corporation Farmington headquarters, features a combination of office and warehouse space. The layout includes a reception area, 12 private offices, a large break room, a training room, and a conference room. In addition to the main building, there is a separate shop building equipped with an overhead door and a fenced yard. The property will be available after December 31, 2024. The building has a total size of 6,360 square feet.
Key Highlights
- Office/warehouse property suitable for headquarters
- Includes a separate shop building with overhead door and fenced yard
- Features 12 private offices, reception area, large break room, training room, and conference room
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
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Warehouse - Office and warehouse property with shop building and fenced yard.
Where is this warehouse 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: Office/warehouse property suitable for headquarters; Includes a separate shop building with overhead door and fenced yard; Features **12 private offices, reception area, large break room, training room, and conference room**
