Santa Fe Office/Research
For Sale
$1,700,000
124 Siringo Road, Santa Fe, NM 87505
SINGLE_FAMILY - Santa Fe, NM
Property Size9,592 SF
Lot Size0.90 Acres
Price / SF$177.23
Days on Market147
Property Features for 124 Siringo Road
General Information
Property type
Residential
Property subtype
Office
Zoning
C-1
Zoning description
Commercial
Parking
54
Parking features
Parking Lot
Directions
On Siringo Between Botulph and St Francis, south side of the street
Standard status
Active
APN
940002353
Size
9,592 SF
Lot size
0.90 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LOT ONE -A (1-A), OF THE SAN MIGUEL OFFICE AND APARTMENT PARK, AS SHOWN ON PLAT OF SURVEY BY TIERRA ENGINEERING CONSULTANTS INC., DATED FEBRUARY 1, 1993 AND RECORDED JUNE2 4, 1993, IN PLAT BOOK 249, PAGE 016, AS DOCUMENT NO. 819323, RECORDS OF SANTA FE COUNTY, NEW MEXICO
Tax Annual Amount
19856
Legal Description
LOT ONE -A (1-A), OF THE SAN MIGUEL OFFICE AND APARTMENT PARK, AS SHOWN ON PLAT OF SURVEY BY TIERRA ENGINEERING CONSULTANTS INC., DATED FEBRUARY 1, 1993 AND RECORDED JUNE2 4, 1993, IN PLAT BOOK 249, PAGE 016, AS DOCUMENT NO. 819323, RECORDS OF SANTA FE COUNTY, NEW MEXICO
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1996
Roof type
Flat
Listing Agency:
Real Estate Advisors, LLC
(505) 539-3200
Listed By:
Tai Bixby · License #40315
(505) 577-3524
Added: Mar 6
Changed: Apr 17
Last Checked: Jul 31 at 12:06AM
MLS# 202600862
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.
Investment Insights
Based on property information with market context.
This +/-9,592 SF professional office and research facility is situated on +/-0.90 acres along Siringo Road, east of St. Francis Drive. The property features 54 parking spaces and presents an opportunity for an owner-user, research facility, medical office, or professional services firm seeking a central Santa Fe location. The two-story building, constructed in 1996, offers a versatile floor plan that includes private offices, conference rooms, reception areas, laboratories, and collaborative workspace. Additional features include elevator access and a rooftop patio. The C-1 zoning allows for office, professional, medical, dental, research, educational, and religious uses. The property is currently occupied by a month-to-month tenant.
Key Highlights
- Large +/-9,592 SF professional office/research facility on +/-0.90 acres in central Santa Fe location.
- Abundant parking with 54 spaces for employees and visitors.
- Versatile floor plan featuring private offices, conference rooms, reception areas, laboratories, and collaborative workspace.
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $207.2k | $21.60 |
| − Vacancy | −$31.1k | −$3.24 |
| EGI | $176.1k | $18.36 |
| − OpEx | −$44.0k | −$4.59 |
| NOI | $132.1k | $13.77 |
9,592 SF · lease $21.60/SF/yr · vacancy 15.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.89M
$1.65M – $2.20M
NOI $132,082 @ 7.0% cap · market cap 7.77%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.60M
$2.28M – $3.04M
NOI $182,325 @ 7.0% cap · market cap 10.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
760
Businesses Nearby
Explore this area
Business Placement
Demographics for 87505, NM
32,078
Population
18,733
Households
1.7
Avg Household Size
52
Median Age
54%
College-Educated
94%
High-School Grad
65.1 sq mi
ZIP Area
493
Density / Sq Mi
$75,912
Median Household Income
$41,169
Median Earnings
$1,348
Median Rent
$484,100
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - 9,592 SF office/research facility on 0.9 acres in Santa Fe.
Where is this office building located?
The property is located at 124 Siringo Road Santa Fe, NM.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: Large +/-9,592 SF professional office/research facility on +/-0.90 acres in central Santa Fe location.; Abundant parking with 54 spaces for employees and visitors.; Versatile floor plan featuring private offices, conference rooms, reception areas, laboratories, and collaborative workspace.
