Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    3005 Northridge Dr Farmington, NM 87401
    Back to Search
    Property profile & analytics

    3005 Northridge Dr Farmington, NM 87401

    View on Map
    • Office properties & Spaces
    • 1,370 SF
    • 0.08 lot acres
    For Sale
    $120,000
    View Listing →
    Farmington Tri-Level Office Building For Sale
    $120,000
    1,068 SF

    Farmington Tri-Level Office Building

    Tri-level office building in established commercial area for sale.

    3005 NORTHRIDGE Drive, Farmington, NM 87401
    View Listing
    Property ID
    US61-0363989
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • San Juan County Bankruptcy / Law Firm
    • Kemp S. Lewis, Attorney / Law Firm / Financial Advisor
    • Four Corners Youth Sports / Child Welfare Organization / Charitable Organization
    • Five Star Cleaning Services, Inc. / Hardware & Home Improvement
    • Mercamur Wholesale Kitchen Supply / Furniture & Home Goods / Home Decor Store

    Property Details for 3005 Northridge Dr

    Year built
    1981
    Lot size
    0.08 lot acres
    Property size
    1,370 SF
    Property type
    Office properties & Spaces
    APN
    2075173299281
    APU
    2075173299281

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Farmington
    County
    San Juan
    State
    New Mexico
    Longitude
    -108.194
    Latitude
    36.7562
    CBSA code
    22140
    CBSA name
    FARMINGTON, NM METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $838
    $0.00
    $0.00
    $30,990
    -
    $0.00
    $0.00
    $92,971

    Comparable in this City

    • Value Estimation by Request
      1,118 SF

      1908 Schofield Ln

      OFFICE (GENERAL) • 1,118 SF
      1908 Schofield Ln, Farmington, NM 87401-2513
      View Details
    • Value Estimation by Request
      5,223 SF

      900 Schofield Ln

      OFFICE (GENERAL) • 5,223 SF
      900 Schofield Ln, Farmington, NM 87401-7431
      View Details
    • Value Estimation by Request
      3,679 SF

      904 Schofield Ln

      OFFICE (GENERAL) • 3,679 SF
      904 Schofield Ln, Farmington, NM 87401-7431
      View Details
    • Value Estimation by Request
      2,275 SF

      5716 Us 64

      OFFICE (GENERAL) • 2,275 SF
      5716 Us 64, Farmington, NM 87401-1578
      View Details
    • Value Estimation by Request
      3,000 SF

      115 Ute St

      OFFICE (GENERAL) • 3,000 SF
      115 Ute St, Farmington, NM 87401-6155
      View Details
    • Value Estimation by Request
      1,586 SF

      1405 Utton Ln

      OFFICE (GENERAL) • 1,586 SF
      1405 Utton Ln, Farmington, NM 87401-7640
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Commercial Land For Sale

      Prime commercial land with excellent visibility and accessibility.
      4951 N Butler Ave, Farmington, NM 87401
      View Details
    • $265,000
      3,543 SF

      Mixed-Use Property with Tower Potential

      Historically notable mixed-use property with income-producing possibilities.
      212 W Apache St, Farmington, NM 87401
      View Details
    • $450,000
      1.42 Acres

      Farmington Commercial Property on Highway

      Commercial property with highway frontage and excellent accessibility in Farmington.
      3650 Bloomfield Hwy, Farmington, NM 87401
      View Details
    • $1,450,000
      17,790 SF

      Farmington Warehouse - $1.45M

      17,790 SF Warehouse, 2.14 Acres
      2203 Main St, 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

    Similar Nearby for Lease

    • $2,050 /Mo

      Downtown Office/Retail Space Available

      Office/retail space featuring multiple offices, break room, and conference room.
      418 W Broadway Ave, Farmington, NM 87401
      View Details
    • $9 SF/Yr

      Farmington Warehouse with Freezer/Cooler

      17,790+-sf warehouse with freezer and refrigerated cooler areas available for rent.
      2203 W Main St, Farmington, NM 87401
      View Details
    • $0.70 SF/Yr
      17,790 SF

      Prime Farmington Land: Ground Lease Opportunity

      1.89 Acres, General Commercial Zoning
      2203 Main St, Farmington, NM 87401
      View Details
    • $15 SF/Yr
      2,300 SF

      Farmington Commercial Land Opportunity

      Prime 2,300 sq ft lot, single tenant.
      2901 20Th St, Farmington, NM 87401
      View Details
    • $60,000

      Prime Commercial Land For Lease

      One-acre commercial land with high-visibility frontage on W. Main Street.
      2105 W Main St, Farmington, NM 87401
      View Details
    • Contact for pricing

      Land for Lease in Farmington

      Land available for lease in Farmington, New Mexico.
      5853 Us-64, Farmington, NM 87401
      View Details
    View Listing
    Request Owner's contact information
    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.
    3005 Northridge Dr
    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
    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

    Thank You for Inquiry
    3005 Northridge Dr, Farmington, NM, 87401
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!