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    417-423 Main St Farmington, NM 87401

    For Sale
    $249,900

    Prime Commercial Land, High-Traffic Area

    Property size:
    5,800 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    361
    This exceptional commercial land opportunity is situated in the heart of Downtown Farmington, New Mexico, at 417-423 E MAIN Street, zip code 87401. The property boasts a total area of 5,800 square feet and presents a unique investment prospect. Currently, the site features an established building with multiple income-generating units. Two retail spaces are leased on the upper level, providing a consistent revenue stream. Additional leased units are located on the lower level at the rear of the building, further enhancing the property's financial potential. This prime location in the established Downtown Farmington area offers high visibility and excellent access to a substantial customer base. The property's existing structure and tenant occupancy provide immediate income, making it an attractive option for investors seeking a stable and profitable venture. The asking price for this exceptional commercial land is $249,900. This presents a rare chance to acquire a well-positioned property with existing income streams in a thriving New Mexico commercial district. The property's location in San Juan County ensures easy access to local amenities and transportation networks. This is an ideal opportunity for investors seeking a strong return on investment in a desirable location. The 5,800 square foot lot provides ample space for potential future development or expansion.

    Property Features for 417-423 Main St

    General Information

    Property type
    Land
    Square Feet
    5,800 SF

    HighLights

    • $249,900 asking price.
    • 5,800 square foot commercial land parcel.
    • Located in Downtown Farmington, NM at 417‑423 E MAIN Street, zip code 87401.
    • Currently features leased retail space.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Realty agency Law Firm Dental Office Building Supply Spa & Massage Wholesale Shop Hair Salon Auto Repair Shop Clothing Store

    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
    -108.2012186
    Latitude
    36.7288292

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    FAQs

    What type of property is this?
    Land - Prime Commercial Land, High-Traffic Area
    Where is this land located?
    The property is located at 417-423 Main St Farmington, NM.
    What is the asking price?
    The asking price for this property is $249,900.
    What are key features of this property?
    This property features: $249,900 asking price.; 5,800 square foot commercial land parcel.; Located in Downtown Farmington, NM at 417-423 E MAIN Street, zip code 87401.
    Request Owner's contact information
    417-423 Main St 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
    417-423 Main St Farmington, NM 87401
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