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    106 W San Franciso St Santa Fe, NM 87501

    Sponsored
    For Lease
    $10,500 /Mo ($63 SF/Yr)

    COMMERCIAL - Santa Fe, NM

    Property size:
    2,000 SF
    Days on Market:
    1
    Last Refresh:
    Mar 3 at 11:06 pm

    Property Features for 106 W San Franciso St

    General Information

    Special listing conditions
    Standard
    Property type
    Commercial Lease
    Property subtype
    Other
    TransactionType
    Standard
    Standard status
    Active
    Zoning
    BCD
    APN
    99312020
    Parking features
    Offsite
    Size
    2,000 SF

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Forced Air
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1906
    Flooring type
    Wood, Concrete, Laminate

    We can help!

    Listing Contact
    Cozette E. Hansen
    Cozette E. Hansen

    Barker Realty LLC (505) 982-9836

    Listing agent Cozette E. Hansen (505) 399-0538 License #49928

    Listing date Mar 3, 2026

    MLS# 202600280

    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

    Prime Retail Space Near Plaza

    This retail space, available for the first time in over 20 years, is located just off the Santa Fe Plaza. Situated in a tourist-driven market within Santa Fe's historic core, the property benefits from pedestrian traffic, vehicle exposure, and a co-tenancy mix of galleries, boutiques, and specialty retailers. The main-level retail area offers approximately 1,961 square feet, featuring expansive ceiling heights, exposed original red brick, hardwood floors, and large storefront glass. The space includes two ADA-compliant restrooms, access for shipping and receiving, a handwashing sink, a three-compartment sink, and a janitorial mop closet. An additional approximately 575 square feet of office area overlooks the retail floor. The property also includes an approximately 1,371 square foot basement, suitable for storage and inventory support. Positioned along one of the Plaza's retail corridors, this location offers exposure and a flagship opportunity for retail, gallery, showroom, or specialty boutique users seeking a presence in Santa Fe's shopping and arts district. The property is zoned BCD.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Retail space

    Map

    City
    Santa Fe
    County
    Santa Fe
    State
    New Mexico
    Longitude
    -105.9398797
    Latitude
    35.6872561

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    FAQs

    What type of property is this?
    Retail space - Highly visible retail space in Santa Fe's historic core.
    Where is this retail space located?
    The property is located at 106 W San Franciso St Santa Fe, NM.
    What is the lease rate?
    The lease rate is $63 SF/Yr.
    What are key features of this property?
    This property features: - Premier retail location just off Santa Fe Plaza in a tourist-driven market.; - High visibility with strong pedestrian and vehicle traffic.; - +/- 1,961 SF of main-level retail space with historic character (exposed brick, hardwood floors).
    (505) 399-0538
    Request Owner's contact information
    106 W San Franciso St 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
    106 W San Franciso St Santa Fe, NM 87501
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    We can help!
    Listing Contact
    Cozette E. Hansen
    Cozette E. Hansen
    Real Estate License ID: 49928
    (505) 399-0538 (505) 982-9836
    Learn more
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