3700 Bloomfield HwyFarmington, NM 87401

Property Details for 3700 Bloomfield Hwy

Year built

1960

Lot size

0.79 AC

Property size (Sq ft)

4,060 SF

Property type

Motels

APN

2073171399010

APU

2073171399010

Description

This exceptional multifamily property at 3700 Bloomfield Hwy, Farmington, NM 87401, presents a compelling investment opportunity. The 0.793-acre lot houses a 17-unit apartment complex, comprising 15 studio apartments and two additional units created from a converted single-wide trailer. The property also includes a convenient on-site laundry room and a spacious house featuring an office. The asking price is $900,000. The property's versatility allows for operation as an apartment complex or a motel, catering to a diverse range of potential uses and income streams. The existing structure provides immediate income potential, while the substantial lot size offers possibilities for future expansion or development. Located in San Juan County, this property benefits from its strategic location in Farmington, New Mexico. This is a rare chance to acquire a well-established multifamily property with significant upside potential in a growing market. The property's current configuration and the potential for future development make it an attractive investment for both seasoned and emerging investors seeking strong returns. Detailed financial information is available upon request. This is a turnkey operation ready for immediate income generation.

• CAP approach

  CAP return

  Valuation

  6%

  $636,242

  6.5%

  $587,301

  7%

  $545,351

• Comparable approach

  Method

  Valuation

  Relative Method

  $764,932

  Geo Method

  $285,122

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $1,603,130

  Retail / Commercial

  $816,217

  Mixed-Use / Specialty

  $808,691

  Office

  $799,078

  Institutional / Educational

  $839,063

  Residential Income

  $981,703

  Multifamily

  $1,202,990

  Automotive / Energy

  $719,197

  Parking / Income-Based Land

  $252,747

  Restaurant / Food Service

  $410,755

  Healthcare / Senior Housing

  $834,031

Location Insight

City

Farmington

County

San Juan

State

New Mexico

Latitude

36.7195

Longitude

-108.162

CBSA code

22140

CBSA name

FARMINGTON, NM METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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