5.42 Acres NELSON Avenue, Farmington, NM 87401
sale
$950,000
|
Unimproved Land
Courtesy Of Real Estate PROS
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.
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Copyright © 2025 San Juan County Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified. Information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Property Features
- Architecture Style: Other
- Legal Description: CANNERY SUBDIVISION REPLAT B LOT 1A-2 BK.1409 PG.824BK.1413 PG.181 BK.1466 PG.410,412 BK.1645 PG.700
- MLSID: 25-1512
- Parking Spaces: 21
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