106 Main StFarmington, NM 87401

Property Details for 106 Main St

Year built

1945

Lot size

0.07 AC

Property size (Sq ft)

4,866 SF

Property type

Retail space

APN

2076171093360

APU

2076171093360

Description

This exceptional retail property, located at 106 W Main St in the heart of Downtown Farmington, New Mexico, presents a unique investment opportunity. The property consists of two single-story buildings totaling 4,174 square feet, situated on a 0.072-acre lot. Currently, 1,475 square feet of retail space is available for lease, offering significant potential for a new tenant or expansion for an existing business. The property's prime location ensures high visibility and accessibility, benefiting from substantial foot traffic and convenient access for customers. The existing building structure provides a solid foundation for immediate occupancy or potential renovation to suit a variety of retail uses. The single-tenant configuration offers simplicity and ease of management, making it an attractive option for both investors and owner-occupiers. This property is ideally suited for a business seeking a strong presence in a thriving downtown area. The property's location within San Juan County provides access to a robust local market and offers excellent potential for growth and return on investment. The existing infrastructure and readily available space make this an attractive option for a variety of retail businesses looking to establish or expand their presence in Farmington. The property's size and configuration offer flexibility for customization and adaptation to meet the specific needs of a new tenant. This is a rare opportunity to acquire a well-located retail property in a desirable downtown setting.

• CAP approach

  CAP return

  Valuation

  6%

  $1,345,728

  6.5%

  $1,242,210

  7%

  $1,153,481

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,718,005

  Geo Method

  $1,013,113

• Alternative Use

  Use

  Valuation

  Residential

  $1,047,851

  Hospitality

  $959,826

  Educational

  $798,564

  Medical

  $826,028

  Retail

  $1,242,210

Location Insight

City

Farmington

County

San Juan

State

New Mexico

Latitude

36.7294

Longitude

-108.206

CBSA code

22140

CBSA name

FARMINGTON, NM METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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