2632 Main StFarmington, NM 87401

Property Details for 2632 Main St

Year built

1961

Lot size

1.54 AC

Property size (Sq ft)

24,114 SF

Property type

Showrooms

APN

2074172141290

APU

2074172141290

Description

This exceptional mixed-use property, located at 2632 E Main St in Farmington, NM, presents a unique investment opportunity. The 1.54-acre lot boasts a prime location at the signalized intersection of E Main St and Hutton, offering excellent visibility and accessibility. With a combined daily traffic count exceeding 30,000 vehicles, this hard corner location ensures high exposure for any business. The property features 1,500-10,000 square feet of vacant space, adaptable to various configurations, including a potential drive-thru. The building is zoned GC/Single-Family, providing flexibility for future development. Situated in a thriving retail corridor with numerous national and local businesses, this property benefits from a strong established customer base. Farmington's strategic location on the outskirts of the Navajo Nation, the largest federally recognized tribe in the United States, with a significant portion of its population residing in New Mexico, contributes to a robust and diverse market. The city boasts a population of 46,422, with a trade area population of 120,418, creating a substantial potential customer base. This rare infill location offers an unparalleled opportunity to establish a successful business in a high-demand area. The asking price is $1,350,000.

• CAP approach

  CAP return

  Valuation

  6%

  $5,251,830

  6.5%

  $4,847,850

  7%

  $4,501,570

• Comparable approach

  Method

  Valuation

  Relative Method

  $5,558,790

  Geo Method

  $2,071,990

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $9,521,620

  Mixed-Use / Specialty

  $4,803,150

  Hospitality / Lodging

  $3,488,220

  Office

  $4,746,050

  Institutional / Educational

  $4,983,540

  Residential Income

  $5,830,740

  Multifamily

  $7,145,070

  Automotive / Energy

  $4,271,600

  Parking / Income-Based Land

  $1,501,170

  Restaurant / Food Service

  $2,439,640

  Healthcare / Senior Housing

  $4,953,650

Location Insight

City

Farmington

County

San Juan

State

New Mexico

Latitude

36.7415

Longitude

-108.171

CBSA code

22140

CBSA name

FARMINGTON, NM METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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