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    5150 E Main St Farmington, NM 87402

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    5150 E Main St Farmington, NM 87402

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    • Commercial real estate
    For Lease
    $24 SF/Yr
    View Listing →
    Retail Center on Main Street For Lease
    $24 SF/Yr
    20,000 SF

    Retail Center on Main Street

    20,000+- SF shopping center with excellent visibility.

    5150 E. Main Street, Farmington, NM 87402
    View Listing
    Property ID
    US61-0361527
    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

    • Metro by T-Mobile / Mobile Phone Store / Electronics & Wireless Store
    • Aspen Leaf Frozen Yogurt / Cafe & Coffee Shop / Take-out & Catering
    • Edward Jones - Financial Advisor: Colby L King / Financial Advisor
    • Crumbl - Farmington / Bakery / Take-out & Catering
    • Taco Libre taqueria & cocktails / Restaurant

    Property Details for 5150 E Main St

    Year built
    2009
    Property type
    Commercial real estate

    Description

    Ashley Plaza Center offers a fantastic retail opportunity in Farmington, New Mexico. This 990-square-foot space is located within a thriving multi-tenant center at 5150 E Main St, 87402, situated on approximately two acres along Farmington's primary retail corridor. The center enjoys excellent visibility and accessibility, boasting two entrances with deceleration lanes for easy ingress and egress. The property, built in 2009, is zoned GC by the City of Farmington. Shared amenities include 302 parking spaces, conveniently shared with established businesses like Ashley Furniture HomeStore and Blake's Lotaburger. This ensures ample parking for customers and employees. A prominent multi-tenant pylon sign is available for increased brand visibility. The strategic location within the Four Corners trade area guarantees high traffic volume and exposure to a large customer base. This space is ideal for a variety of retail businesses seeking a high-traffic, well-maintained location with excellent visibility and ample parking. The property offers a unique opportunity to establish a presence in a bustling commercial center. Contact us today to learn more about this exceptional retail space.

    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
    -108.1446425
    Latitude
    36.7694928

    Comparable in this City

    • $24 SF/Yr

      Retail Center on Main Street

      20,000+- SF shopping center with excellent visibility.
      5150 E Main St, Farmington, NM 87402
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    • $5,200 /Mo

      Farmington Retail Space For Lease

      3,012 sq ft retail space in a prime location.
      4323 E Main St, Farmington, NM 87402
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      Retail Space in Four Corners Hub

      Exceptional retail location in the Four Corners area.
      4917 E Main St, Farmington, NM 87402
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      Farmington Medical Office Space

      Exceptional 6,765 sq ft office building. Prime Farmington location.
      6600 Main St, Farmington, NM 87402
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      Commercial Land For Lease

      Commercial land available for lease at high-volume intersection.
      4129 E Main St, Farmington, NM 87402
      View Details

    Similar Nearby for Sale

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      Farmington Commercial Building For Sale

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      Farmington Flea Market Opportunity

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      Farmington Retail Building and Land

      Retail building with parking, priced affordably in Farmington, NM.
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      Residential Land in Farmington, NM

      One-acre residential lot with utilities available, no HOA.
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      Farmington Industrial Land For Sale

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    Similar Nearby for Lease

    • Contact for pricing

      Retail Space in Four Corners Hub

      Exceptional retail location in the Four Corners area.
      4917 E Main St, Farmington, NM 87402
      View Details
    • $24 SF/Yr

      Retail Center on Main Street

      20,000+- SF shopping center with excellent visibility.
      5150 E Main St, Farmington, NM 87402
      View Details
    • $5,200 /Mo

      Farmington Retail Space For Lease

      3,012 sq ft retail space in a prime location.
      4323 E Main St, Farmington, NM 87402
      View Details
    • $120,000
      6,765 SF

      Farmington Medical Office Space

      Exceptional 6,765 sq ft office building. Prime Farmington location.
      6600 Main St, Farmington, NM 87402
      View Details
    • Contact for pricing

      Commercial Land For Lease

      Commercial land available for lease at high-volume intersection.
      4129 E Main St, Farmington, NM 87402
      View Details

    Property Visit Statistics

    • Visits by month
      3.3k
    • Visitors by month
      2.8k
    • Avg Time on site
      15 min
    View Listing
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    Farmington, NM 87402
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    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.

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    5150 E Main St, Farmington, NM, 87402

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