2005 11Th StFarmington, NM 87401

Property Details for 2005 11Th St

Year built

1972

Lot size

1.26 AC

Property size (Sq ft)

10,000 SF

Property type

Warehouses

Property subtype

Self storage facilities

APN

2074172435289

APU

2074172435289

Description

This exceptional commercial property, located at 2005 E 11TH Street in Farmington, NM, presents a unique investment opportunity. The building, formerly a carpenters' union hall, boasts a versatile layout suitable for a wide range of commercial ventures. The property features multiple offices, spacious training rooms perfectly suited for workshops or classes, and a substantial warehouse area complete with convenient overhead doors for easy loading and unloading. The zoning is currently designated as Multi-Family (MF), offering potential for diverse uses subject to local regulations. Strategically positioned between Farmington Avenue and Schofield, this property enjoys excellent visibility and accessibility. A significant advantage is its double frontage, extending from 11th Street all the way through to 10th Street, maximizing exposure and potential for signage. The building's size, while not specified in square footage, is substantial enough to accommodate a variety of businesses, from light industrial operations to educational or training centers. The asking price of $345,000 represents a compelling entry point into the Farmington commercial real estate market. This property offers a rare blend of functionality, location, and potential, making it an attractive prospect for discerning investors and business owners alike. Serious inquiries are encouraged to explore the possibilities this unique property offers.

• CAP approach

  CAP return

  Valuation

  6%

  $4,277,630

  6.5%

  $3,948,590

  7%

  $3,666,540

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,546,480

  Geo Method

  $1,321,920

• Alternative Use

  Use

  Valuation

  Retail / Commercial

  $2,010,390

  Mixed-Use / Specialty

  $1,991,850

  Hospitality / Lodging

  $1,446,550

  Office

  $1,968,170

  Institutional / Educational

  $2,066,660

  Residential Income

  $2,417,990

  Multifamily

  $2,963,040

  Automotive / Energy

  $1,771,420

  Parking / Income-Based Land

  $622,529

  Restaurant / Food Service

  $1,011,710

  Healthcare / Senior Housing

  $2,054,260

Location Insight

City

Farmington

County

San Juan

State

New Mexico

Latitude

36.7417

Longitude

-108.181

CBSA code

22140

CBSA name

FARMINGTON, NM METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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