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    8675 Foothills Dr Farmington, NM 87402

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    8675 Foothills Dr Farmington, NM 87402

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    • Commercial real estate
    Off-Market
    Property ID
    US61-0312485
    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 real estate

    Property Details for 8675 Foothills Dr

    Property type
    Commercial real estate

    Description

    This exceptional 87,120 square foot lot, located at 8675 Foothills Drive in Farmington, New Mexico, presents a unique opportunity to build your dream home. Boasting expansive views of the San Juan Mountains and Shiprock, this approximately two-acre parcel offers breathtaking scenery and a tranquil setting. The property enjoys convenient access via Foothills Drive, making it easily accessible while maintaining a sense of seclusion. The lot's potential is truly limitless, allowing for the creation of a spectacular modern home that seamlessly blends with the natural landscape. A significant advantage is the existing city water line at the lot's boundary, simplifying the construction process. For those seeking a customized approach, the owner, a contractor/builder, offers build-to-suit options. Furthermore, the owner is willing to provide financing, offering a contract with a $10,000 down payment and monthly payments of $500 for up to two years. This remarkable property in the 87402 zip code, situated in San Juan County, is a must-see for discerning buyers seeking a prime location to build their ideal residence. The property's latitude and longitude coordinates are 36.817942, -108.138428 respectively. Don't miss this chance to own a piece of New Mexico's stunning landscape.

    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
    -108.138428
    Latitude
    36.817942

    Comparable in this City

    • $100,000
      1.00 Acre

      Residential Land in Farmington, NM

      One-acre residential lot with utilities available, no HOA.
      11 Silver Maple Ct, Farmington, NM 87402
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    • $725,000
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      Farmington Industrial Land For Sale

      60 acres of developable industrial land within Farmington city limits.
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    • $699,000
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      Farmington Flea Market Opportunity

      Established flea market with highway frontage and income potential.
      7701 E Main St, Farmington, NM 87402
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      Land For Sale

      Approximately 6.26 acres of land available for sale.
      4109 E Main St, Farmington, NM 87402
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    • Contact for pricing

      Land For Sale

      Land available for purchase.
      2860 E Main St, Farmington, NM 87402
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      High-Traffic Intersection Commercial Land

      Commercial land at a high-volume, signalized intersection.
      4109 E Main St, Farmington, NM 87402
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    Similar Nearby for Sale

    • $100,000
      1.00 Acre

      Residential Land in Farmington, NM

      One-acre residential lot with utilities available, no HOA.
      11 Silver Maple Ct, Farmington, NM 87402
      View Details
    • $725,000
      58.89 Acres

      Farmington Industrial Land For Sale

      60 acres of developable industrial land within Farmington city limits.
      Xxxx Andrea Dr, Farmington, NM 87402
      View Details
    • $699,000
      4.82 Acres

      Farmington Flea Market Opportunity

      Established flea market with highway frontage and income potential.
      7701 E Main St, Farmington, NM 87402
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    • Contact for pricing

      Land For Sale

      Approximately 6.26 acres of land available for sale.
      4109 E Main St, Farmington, NM 87402
      View Details
    • Contact for pricing

      Land For Sale

      Land available for purchase.
      2860 E Main St, Farmington, NM 87402
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    • Contact for pricing

      High-Traffic Intersection Commercial Land

      Commercial land at a high-volume, signalized intersection.
      4109 E Main St, Farmington, NM 87402
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Commercial Land For Lease

      Commercial land available for lease at high-volume intersection.
      4129 E Main St, Farmington, NM 87402
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    • $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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    • $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
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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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    8675 Foothills Dr
    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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    8675 Foothills Dr, Farmington, NM, 87402

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