615 S CARLTON Avenue, Farmington, NM 87401

$815,000

Property Type: Commercial Sale Square Footage: 10,892 Lot Size (sq. ft.): 130,680 Status: Active

Current Price: $815,000 List Date: 6/03/2026 Last Modified: 6/15/2026

Overview

Description

ATTENTION INVESTORS | STABILIZED NNN INDUSTRIAL ASSET w/ LONG-TERM TENANT. Fully leased, income-producing industrial property offering immediate cash flow, average 9% cap rate, & long-term investment stability. This turnkey asset is occupied by an established tenant operating under a 5-year municipal contract w/ a corresponding 5-year lease that commenced 1/1/24. Both the contract & lease include 5-year renewal options, & the tenant has historically renewed in prior terms, creating strong potential for continued occupancy, although future renewals cannot be guaranteed. The lease is structured as Triple Net (NNN), minimizing landlord responsibilities while providing built-in revenue growth through 3% annual rent escalations. Current 3rd year base rental income is $82,750 annually, making this an attractive passive investment opportunity. Situated on 3.73 fully fenced industrial-zoned acres w/ electronic gated access & approximately 10,892sf of improvements. Building A encompasses ... (Read more)

Listing Details MLS# 26-642

Location, Tax & Legal

Area: 8H
Street Number: 615
Street Direction Pfx: S
Street Name: CARLTON
Street Suffix: Avenue
County: San Juan
State/Province: NM
Postal Code: 87401
Subdivision: None
Legal: BEG E 1279.4 FT AND N 1305.08 FT FROM SW COR OF SW1/4SE1/4 15 29 13 N 227.3 FT, W 630 FT, S 227.3 FT, E 630 FT TO BEG 3.
Annual Taxes: $7,268.44
Pending Foreclosure: No
Foreclosed: No
Relocation: No
Short Sale: No
Offer Letters Accepted: N

Listing Info

GRT Location Code: 16-121

Property Information

Building Name: Jacobs
Sub Type: Industrial
Realtor.com Type: Commercial
Parking: 21+
Restrooms: 3 - 4
Offices: 5+
# of Acres: 3.73
# Units: Yes
Building SqFt: 10892
SqFt Improvments: 10892
Aprox Total SqFt.: 10892
Monthly Rent: 7451

Status Change Info

Status Change Date: 2026-06-03

Remarks & Misc

Public Remarks: ATTENTION INVESTORS | STABILIZED NNN INDUSTRIAL ASSET w/ LONG-TERM TENANT. Fully leased, income-producing industrial property offering immediate cash flow, average 9% cap rate, & long-term investment stability. This turnkey asset is occupied by an established tenant operating under a 5-year municipal contract w/ a corresponding 5-year lease that commenced 1/1/24. Both the contract & lease include 5-year renewal options, & the tenant has historically renewed in prior terms, creating strong potential for continued occupancy, although future renewals cannot be guaranteed. The lease is structured as Triple Net (NNN), minimizing landlord responsibilities while providing built-in revenue growth through 3% annual rent escalations. Current 3rd year base rental income is $82,750 annually, making this an attractive passive investment opportunity. Situated on 3.73 fully fenced industrial-zoned acres w/ electronic gated access & approximately 10,892sf of improvements. Building A encompasses 5,600sf. Approximately 2,800sf was extensively renovated in 4/24 & features a reception area, 7 offices, a conference room, a break room w/ stove, fridge & sink, as well as 2 ADA restrooms. The remaining 2,800sf is heated warehouse space w/ 2 overhead roll-up doors. Building B provides 600sf of enclosed light-duty metal storage along w/an attached 1,200sf partially enclosed covered storage area. Building C contains 3,492sf of adaptable space including a large meeting or training room, 3 offices, 2 bathrooms, heating & evaporative cooling, attached warehouse space & 2 covered porticos. Significant capital improvements have already been completed, reducing near-term maintenance concerns & enhancing long-term asset value. Recent upgrades include a new roof on Building A installed by DKG & Associates 6/24 & covered by warranty, a new heating system installed by Farmington Heating in 10/22, updated evaporative cooling systems, fence replacement, door repairs & complete office remodel

Zoning

Industrial: Yes

More Information

Possession

Negotiable: Yes

Impr w/Strctr Usble

Conforming: Yes
Multiple Structure: Yes

Will Sell

Cash: Yes
Sell in Entirety: Yes

Documents on File

Aerial Photo: Yes
Environmental Audit: Yes
Financial Details: Yes
Legal Description: Yes
Operating Statement: Yes
Recorded Plat: Yes

Condition

Excellent: Yes
Good: Yes

Land Status

Land Included: Yes

Road Frontage

City: Yes

Parking

Parking Area: Yes
Parking Garage: Yes
Parking Lot: Yes
Paved: Yes

Location

Freestanding: Yes
Industrial Park: Yes

Type of Existing Business

Industrial: Yes

Number of Stories

One: Yes

Lease Type

Modified Gross: Yes

Imprvmt/Construction

Metal Fabricated: Yes

Roof

Metal: Yes
Pitched: Yes

Security Features

Exterior audio/video surveillance: Yes
Fire Alarm: Yes
Fire Escape: Yes
Interior audio/video surveillance: Yes
Security Lights: Yes
Security System: Yes
Smoke Detector(s): Yes
Handicapped Accessible: Yes
See Remarks: Yes

Age

31 to 50 Years: Yes

Cooling

Central Air: Yes

Ceiling Height

8 to 10 Feet: Yes
11 to 15 Feet: Yes
More Than 20 Feet: Yes
Varied Heights: Yes

Floors

Concrete/Slab: Yes
Heavy Duty: Yes

Walls

Drywall: Yes
Metal: Yes
Unfinished: Yes

Heat

Forced Air: Yes
Heat Pump: Yes
Natural Gas: Yes

Miscellaneous

Auto Bay: Yes
Bath Handicapped Eq: Yes
Bath Rooms: Yes
Fencing: Yes
Gas Water Heater: Yes
Inside Storage: Yes
O/H Door Over 10': Yes
Outside Storage: Yes
Shelving: Yes
Tenant Pays Util: Yes
Utilities/Master Mtr: Yes

Main Water Size

Unknown: Yes

Sewer

Unknown: Yes

Utilities Available

City Sewer: Yes
City Water: Yes
Electric: Yes
Gas: Yes
Sanitation: Yes
Septic: Yes

Occupied

Lease/Rented: Yes

Sign on Property

No: Yes

How To Show

48 Hour Notice: Yes
Appointment Only: Yes
Tenant Notice Required: Yes
Special (See Rmrks): Yes

Property Features

Zoning: Industrial Will Sell: Cash; Sell in Entirety Documents on File: Aerial Photo; Environmental Audit; Financial Details; Legal Description; Operating Statement; Recorded Plat Land Status: Land Included Location: Freestanding; Industrial Park Type of Existing Business: Industrial Lease Type: Modified Gross Parking: Parking Area; Parking Garage; Parking Lot; Paved Security Features: Fire Escape; Security Lights; Security System; Exterior audio/video surveillance; Fire Alarm; Handicapped Accessible; Interior audio/video surveillance; Smoke Detector(s); See Remarks Number of Stories: One Age: 31 to 50 Years Ceiling Height: 8 to 10 Feet; 11 to 15 Feet; More Than 20 Feet; Varied Heights Floors: Concrete/Slab; Heavy Duty Walls: Drywall; Metal; Unfinished Roof: Metal; Pitched Heat: Forced Air; Heat Pump; Natural Gas Cooling: Central Air Miscellaneous: Auto Bay; Bath Handicapped Eq; Bath Rooms; Fencing; Gas Water Heater; Inside Storage; O/H Door Over 10'; Outside Storage; Shelving; Tenant Pays Util; Utilities/Master Mtr Main Water Size: Unknown Sewer: Unknown Utilities Available: City Sewer; City Water; Electric; Gas; Sanitation; Septic Possession: Negotiable Occupied: Lease/Rented How To Show: 48 Hour Notice; Appointment Only; Tenant Notice Required; Special (See Rmrks) Sign on Property: No Condition: Excellent; Good

Documents

2308 - Septic Info ›

3103 - Commercial Disclosures ›

5112 - LBP ›

ABA DIsclosure ›

CAP RATE - LEASE RATE - EXPENSES - IMPRO ›

Parcel Map ›

Property Record Card ›

Listing Office: EXP Realty, LLC

Listing Agent: Allen Elmore

Last Updated: June - 15 - 2026

The data relating to real estate for sale in this web site comes in part from the Internet Data Exchange ('IDX') program of SJCBR, Inc. Real estate listings held by brokers other than [ insert IDX Subscriber's firm name here] are marked with the IDX Logo. All data in this web site is deemed reliable but is not guaranteed. The information contained in this publication is subject to change without notice. SJCBR, INC. Makes no warranty of any kind with regard to this material, including, but not limited to, the implied warranties of merchantability and fitness for a particular purpose. SJCBR, INC. Shall not be liable for errors contained herein or for any damages in connection with the furnishing, performance, or use of this material.

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