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    The Largest CRE Database in the US with Over 1 Million Listings

    103 S Saint Francis Dr, Unit B Santa Fe, NM 87501

    Sponsored
    For Sale
    $565,000

    COMMERCIAL - Santa Fe, NM

    Property size:
    1,384 SF
    Lot size:
    0.03 Acres
    Days on Market:
    12
    Last Refresh:
    Feb 1 at 10:06 pm

    Property Features for 103 S Saint Francis Dr

    General Information

    Special listing conditions
    Standard
    Property type
    Commercial Sale
    Property subtype
    Other
    TransactionType
    Standard
    Standard status
    Active
    Zoning
    C-4
    APN
    099303494
    Parking
    3
    Parking features
    Parking Lot
    Size
    1,384 SF
    Lot size
    0.03 Acres

    Utilities

    Water source
    Public

    Building Details

    Year built
    2009

    We can help!

    Listing Contact
    Andrea F. Lucero
    Andrea F. Lucero

    Barker Realty LLC (505) 982-9836

    Listing agent Andrea F. Lucero (505) 780-0311 License #40551

    Listing date Jan 21, 2026

    MLS# 202600141

    Copyright © 2026 Santa Fe Association of REALTORS®, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Professional Office Condo in Santa Fe

    This professional office condo is situated in a convenient, high-traffic location in Santa Fe, along the Santa Fe River, near the intersection of St. Francis Drive and West Alameda. The middle unit in a three-unit complex, the property benefits from natural light provided by multiple windows. The flexible floor plan features four private offices and a reception area. The property is suitable for medical, legal, therapy, healing arts, or general professional use. Additional features include a kitchenette and a private bathroom. Covered brick walkways enhance curb appeal and accessibility. The property has 1384 square feet of office space and sits on a lot of approximately 0.03 acres. There are 11 total parking spaces in the complex, with three spaces designated for this unit, including one ADA space for shared use, and an additional shared space. The property offers proximity to DeVargas Center and provides access to St. Francis Drive, Cerrillos Road, Alameda, and Paseo de Peralta.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Medical offices

    Suggested Use

    Restaurant Realty agency Dental Office Law Firm Spa & Massage Hair Salon Nail Salon Building Supply Daycare Center Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    Santa Fe Animal Hospital PC, Jennifer Kendrick, DVM, Parker Brent DVM, Terry Mark DVM, Retriever Technology

    Location Insight

    • Map
    • Local Demand
    City
    Santa Fe
    County
    Santa Fe
    State
    New Mexico
    Longitude
    -105.9536966
    Latitude
    35.68807649

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    FAQs

    What type of property is this?
    Medical office - Professional office condo in a high-traffic Santa Fe location.
    Where is this medical office located?
    The property is located at 103 S Saint Francis Dr, Unit B Santa Fe, NM.
    What is the asking price?
    The asking price for this property is $565,000.
    What are key features of this property?
    This property features: - High-traffic location near St. Francis Drive and West Alameda.; - Flexible floor plan with four private offices, reception area, kitchenette, and private bathroom.; - Ample parking: three designated spaces plus shared spaces, including one ADA space.
    (505) 780-0311
    Request Owner's contact information
    103 S Saint Francis Dr, Unit B Santa Fe, NM 87501
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    Santa Fe, NM 87501
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    103 S Saint Francis Dr, Unit B Santa Fe, NM 87501
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    We can help!
    Listing Contact
    Andrea F. Lucero
    Andrea F. Lucero
    Real Estate License ID: 40551
    (505) 780-0311
    Learn more
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