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$ 950,000
Est. payment /mo
New
5.42 ACRES NELSON Farmington, NM 87401
UPDATED:
Key Details
Property Type Commercial
Sub Type Unimproved Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID 25-1512
Tax Year 2024
Property Sub-Type Unimproved Land
Property Description
Nelson is a prime 5+ acre infill development opportunity located near the Cannery Apartments with direct access from Broadway, perfectly positioned inside Farmington's Metropolitan Redevelopment Area (MRA). This designation encourages higher-density housing, infill development, and public/private partnerships, allowing future projects to explore incentives such as tax-increment supported improvements, infrastructure assistance, and other redevelopment tools that strengthen project viability and long-term return.The site is ideally suited for multifamily or senior-oriented housing and aligns well with financing opportunities through the New Mexico Housing Trust Fund (NMHTF), which offers discounted financing for qualifying rental and senior projects. Adding to its appeal, utilities are already in the street including two water taps, natural gas, and electric and the road improvements are complete, offering excellent access and reducing upfront development costs.It offers exceptional proximity to key amenities: minutes to Four Corners Regional Airport, San Juan Regional Medical Center, medical offices, and Farmington's revitalized downtown district featuring art galleries, restaurants, entertainment, and Main Street cultural offerings. With its size, strategic location, infrastructure readiness, and possible eligibility for powerful development incentives, this property is truly ripe for investors and builders ready to bring Farmington's next residential community to life. Seller and listing broker make no guarantees or warranties about future development, zoning or availability of grants, governmental assistance or subsidies for construction. Buyer to satisfy themselves of all information prior to closing.
Location
State NM
County San Juan
Zoning Mixed Use
Building
Sewer 10 Inch or More