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    1050 Murray Dr Farmington, NM 87401

    For Sale
    $174,888

    Prime Commercial Lot, High Visibility

    Property size:
    1,952 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    369
    This exceptional 1,952 square foot commercial land parcel presents a remarkable investment opportunity in Farmington, New Mexico. Located at the highly visible corner of Murray Drive and US 64, this property benefits from a signaled intersection and significant traffic flow. The site's previous use as McCormick Laundry ensures established utility infrastructure. Currently zoned General Commercial, this lot offers considerable flexibility for a wide range of commercial ventures. The asking price is $174,888. For investors seeking a return, the owner will consider a rent-to-own agreement with a $20,000 down payment. Alternatively, a lease option is available at a monthly rate of $1,200. This prime location, coupled with the owner's flexible financing options, makes this an ideal opportunity for entrepreneurs and investors alike. The property is situated in San Juan County, New Mexico, with the address being 1050 E Murray Drive, Farmington, NM 87401. The property's strategic location near McCormick School Road further enhances its visibility and accessibility. This is a rare chance to acquire a well-positioned commercial lot in a thriving area. Don't miss this chance to secure a piece of Farmington's commercial landscape.

    Property Features for 1050 Murray Dr

    General Information

    Property type
    Land
    Square Feet
    1,952 SF

    HighLights

    • 1,952 SF commercial lot in Farmington, NM, at the signalized intersection of Murray Drive and US 64.
    • General Commercial zoning allows for diverse commercial uses.
    • Asking price: $174,888; owner financing options include rent‑to‑own ($20,000 down) or lease option ($1,200/month).
    • Established utility infrastructure from previous use.
    • Located at 1050 E Murray Drive, Farmington, NM 87401, near McCormick School Road.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Raakgu Gym - Boxing, ... Martial Arts School

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Farmington
    County
    San Juan
    State
    New Mexico
    Longitude
    -108.1923213
    Latitude
    36.719741

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    FAQs

    What type of property is this?
    Land - Prime Commercial Lot, High Visibility
    Where is this land located?
    The property is located at 1050 Murray Dr Farmington, NM.
    What is the asking price?
    The asking price for this property is $174,888.
    What are key features of this property?
    This property features: 1,952 SF commercial lot in Farmington, NM, at the signalized intersection of Murray Drive and US 64.; General Commercial zoning allows for diverse commercial uses.; Asking price: $174,888; owner financing options include rent-to-own ($20,000 down) or lease option ($1,200/month).
    (505) 327-3900
    Request Owner's contact information
    1050 Murray Dr Farmington, NM 87401
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    Farmington, NM 87401
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1050 Murray Dr Farmington, NM 87401
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