Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    Farmington, NM 87401

    Sponsored
    For Sale
    $55,000

    Build Your Dream Home: Spacious lot, utilities available.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    409
    This exceptional 4.24-acre parcel (174,240 square feet) in Farmington, New Mexico, presents a unique opportunity for homebuyers seeking ample space and convenient city living. Located in San Juan County, zip code 87401, this lot (LOT 216) is priced at $55,000. The property is conveniently situated within city limits, offering easy access to amenities and services. A significant advantage is the ready availability of water, electricity, and natural gas connections, simplifying the construction process. While a septic system will be required, the groundwork for essential utilities is already in place. This expansive lot is ideal for those seeking a substantial amount of land to build their dream home. Importantly, the property allows for single-wide manufactured homes, providing flexibility in building plans. The location offers a blend of suburban convenience and the freedom of a large, private lot. Don't miss this chance to secure a sizable piece of land in a desirable location. Coordinates: 36.7471661 Latitude, -108.214028 Longitude.

    Property Features for 0

    General Information

    Property type
    Land

    We can help!

    Listing Contact
    Amanda Banks
    Amanda Banks

    Learn more

    HighLights

    • 4.24‑acre lot (174,240 sq ft) in Farmington, NM.
    • Located in San Juan County, zip code 87401.
    • Priced at $55,000.
    • Utilities (water, electricity, natural gas) readily available.
    • Allows single‑wide manufactured homes.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Farmington
    County
    San Juan
    State
    New Mexico
    Longitude
    -108.214028
    Latitude
    36.7471661

    Nearby Similar for Sale

    • $1,750,000
      18,314 SF

      Versatile Industrial Property with Mechanic Shop

      9.25-acre industrial property with office, warehouse, and mechanic shop.
      3030 La Plata Hwy, Farmington, NM 87401
      View Details
    • $325,000
      8,308 SF

      Farmington Commercial Building For Sale

      Downtown Farmington commercial building with redevelopment potential.
      213 S Orchard Ave, Farmington, NM 87401
      View Details
    • $2,900,000
      16,498 SF

      Modern Multi-Use Commercial Building

      Upscale commercial property with high-income tenant and expansion potential.
      2050 Knudsen Ave, Farmington, NM 87401
      View Details
    • $1,549,999
      Pending

      Farmington Professional Office Building

      Sophisticated office building with multiple executive offices and flex areas.
      2705 Rabbitbrush Dr, Farmington, NM 87402
      View Details
    • $309,000
      1,890 SF

      Remodeled Commercial Building on Two Lots

      Remodeled commercial building with expansion potential in the heart of Farmington.
      1218 Schofield Ln, Farmington, NM 87401
      View Details
    • $425,000
      2,148 SF

      Farmington Commercial Property For Sale

      High-traffic commercial property suitable for office, professional, or service businesses.
      305 E 20Th St, Farmington, NM 87401
      View Details
    • $280,000
      2,547 SF

      Farmington Office Building with Garage

      2,547 sq ft commercial office building with versatile character.
      624 E Comanche St, Farmington, NM 87401
      View Details
    • $375,000
      2,571 SF

      Historic Office Building on Corner Lot

      Versatile commercial building with ample parking on 1.86 acres.
      503 N Auburn Ave, Farmington, NM 87401
      View Details
    • $240,000
      Pending

      Farmington Multi-Family Investment Opportunity

      Income-generating property with laundromat, house, and mobile homes.
      1031 Smith Ln, Farmington, NM 87401
      View Details
    • $450,000
      6,000 SF

      Farmington Commercial Property For Sale

      Two buildings on 0.92 acres suitable for automotive or industrial.
      660 S Dustin Rd, Farmington, NM 87401
      View Details
    • $899,000
      6,300 SF

      Farmington Office Building For Sale

      Commercial office building on 3.9 acres with high visibility.
      1703 W Main St, Farmington, NM 87401
      View Details
    • $1,399,000
      12,256 SF

      Farmington Commercial Complex For Sale

      Highly visible commercial complex with income and growth potential.
      3300 N Butler Ave, Farmington, NM 87401
      View Details

    FAQs

    What type of property is this?
    Land - Build Your Dream Home: Spacious lot, utilities available.
    Where is this land located?
    The property is located at Farmington, NM.
    What is the asking price?
    The asking price for this property is $55,000.
    What are key features of this property?
    This property features: 4.24-acre lot (174,240 sq ft) in Farmington, NM.; Located in San Juan County, zip code 87401.; Priced at $55,000.
    (505) 327-4838
    Request Owner's contact information
    Farmington, NM 87401
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Farmington, NM 87401
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Farmington, NM 87401
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Amanda Banks
    Amanda Banks
    (505) 327-4838
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.