Santa Fe Office/Research
124 Siringo Road, Santa Fe, NM 87505
SINGLE_FAMILY - Santa Fe, NM
Type:Office
Property size:
9,592 SFLot size:
0.90 AcresPrice / SF:
$177/SF- Added:
- Mar 6, 2026
- Days on Market:
- 70
- Last Refresh:
- May 15 at 9:06 pm
Property Features for 124 Siringo Road
General Information
- Property type
- Residential
- Property subtype
- Office
- Zoning
- C-1
- Parking
- 54
- Parking features
- Parking Lot
- 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
Utilities
- Sewer type
- Public Sewer
- Water source
- Public
Building Details
- Year built
- 1996
- Roof type
- Flat
Listing agent Tai Bixby License #40315 (505) 577-3524
Listing office Real Estate Advisors, LLC 1227 Paseo de Peralta, Albuquerque, NM (505) 539-3200
Listing date Mar 6, 2026
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.
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.
- C‑1 zoning allows for a wide range of uses including office, medical, research, and educational.
- Features include elevator access and a rooftop patio.
- Offered for sale below appraisal.
Overview
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.
Financial Insights
Value Estimation Calculated for Office B
Conservative
$1.47M
NOI $132,082 @ 9.00% cap · cautious / downside scenario
Moderate
$1.89M
NOI $132,082 @ 7.00% cap · market / base-case scenario
Aggressive
$2.64M
NOI $132,082 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
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.
Calculated for Office B
| 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 Use Scenarios
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 local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Office buildings
Location Insight
- Map
- Local Demand
- City
- Santa Fe
- County
- Santa Fe
- State
- New Mexico
- Longitude
- -105.9530525
- Latitude
- 35.6517449
Nearby Similar for Sale
FAQs
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.
