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    720 Main St Farmington, NM 87401
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    720 Main St Farmington, NM 87401

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    • Commercial land
    For Sale
    $400,000
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    Farmington Commercial Land - Main Street For Sale
    $400,000

    Farmington Commercial Land - Main Street

    Prime 2.22-acre commercial lot, high visibility.

    720 Main St, Farmington, NM 87401
    View Listing
    Property ID
    US61-0500670
    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

    • Commercial land

    Property Details for 720 Main St

    Property type
    Commercial land
    Property subtype
    Commercial real estate

    Description

    Prime 2.87-acre level commercial lot with East Main Street frontage, ideally located near downtown Farmington, NM! This versatile property offers unparalleled exposure for any business venture, with utilities conveniently on-site for a seamless development experience. The strategic location and high visibility make this lot a fantastic investment opportunity for retail, office, or mixed-use purposes. Don't miss out on this premium location with endless potential for growth and success in a thriving area.

    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
    -108.1934081
    Latitude
    36.7332738

    Comparable in this City

    • $1,900,000
      11.00 Acres

      Farmington Commercial Land For Sale

      Prime commercial land with high visibility and strong development potential.
      3910 Bloomfield Hwy, Farmington, NM 87401
      View Details
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      US 64 Commercial Land

      Level property on US 64 suitable for various uses.
      5853 Us-64, Farmington, NM 87401
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      Commercial Land For Sale

      Prime commercial land with excellent visibility and accessibility.
      4951 N Butler Ave, Farmington, NM 87401
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      Retail Pad Ready for Drive-Thru

      1.4 acre retail pad site anchored by Walmart Supercenter.
      1289 W Main St, Farmington, NM 87401
      View Details

    Similar Nearby for Sale

    • $1,900,000
      11.00 Acres

      Farmington Commercial Land For Sale

      Prime commercial land with high visibility and strong development potential.
      3910 Bloomfield Hwy, Farmington, NM 87401
      View Details
    • Contact for pricing

      US 64 Commercial Land

      Level property on US 64 suitable for various uses.
      5853 Us-64, Farmington, NM 87401
      View Details
    • Contact for pricing

      Commercial Land For Sale

      Prime commercial land with excellent visibility and accessibility.
      4951 N Butler Ave, Farmington, NM 87401
      View Details
    • Contact for pricing

      Retail Pad Ready for Drive-Thru

      1.4 acre retail pad site anchored by Walmart Supercenter.
      1289 W Main St, Farmington, NM 87401
      View Details

    Similar Nearby for Lease

    • $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
    • $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
    • Contact for pricing
      5,000 SF

      Retail Space on Main Street

      Retail space with high visibility and traffic in Farmington, NM.
      2632 East Main St, Farmington, NM 87401
      View Details
    • Contact for pricing
      28,158 SF

      Farmington Retail Anchor Space Available

      Prime downtown retail space with high visibility and traffic.
      730 W Main St, Farmington, NM 87401
      View Details
    • Contact for pricing
      59,388 SF

      Retail and Restaurant Space Available

      Retail and restaurant spaces ranging from 843 to 59,388 SF.
      3040 E 20Th St, Farmington, NM 87401
      View Details
    • $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
    View Listing
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    720 Main St
    Farmington, NM 87401
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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.

    More about this property
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