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    125 Lincoln Avenue unit 221 Santa Fe, NM 87501

    View on Map
    For Lease
    $35 SF/Yr

    COMMERCIAL - Santa Fe, NM

    Type:Office
    Property size:
    3,058 SF
    Lot size:
    1.50 Acres
    Added:
    Feb 25, 2026
    Days on Market:
    37
    Last Refresh:
    Apr 3 at 6:06 pm

    Property Features for 125 Lincoln Avenue unit 221

    General Information

    Property type
    Commercial Lease
    Property subtype
    Office
    Zoning
    BCD
    Standard status
    Active
    APN
    12485280
    Size
    3,058 SF
    Lot size
    1.50 Acres

    Utilities

    Heating system
    Forced Air
    Water source
    Public

    Building Details

    Year built
    1982

    We can help!

    Listing Contact
    Jennifer Dyess

    Listing agent Jennifer Dyess License #53964

    Listing office Real Estate Advisors, LLC 1227 Paseo de Peralta, Albuquerque, NM

    Listing date Feb 25, 2026

    MLS# 202600697

    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.

    Overview

    Downtown Santa Fe Class A Office

    This Class A office space is available for sublease in downtown Santa Fe. Located at 125 Lincoln Avenue, Suite 221 offers approximately 3,058 RSF of professional workspace. The second-floor suite features a versatile layout that includes 7 private offices, a reception area, open workspace, a conference room, and a breakroom. The suite and common areas feature southwest interior design and a professional setting. Underground and street parking are available. A shared, brick-paved courtyard provides usable outdoor space. The common corridors are spacious and have recently been upgraded. Situated near the Santa Fe Plaza, tenants have access to restaurants, galleries, museums, government offices, hotels, and cultural landmarks. On-site retailers include The Bull Ring Restaurant, Taberna La Boca Restaurant, Alan Houser Gallery, Ojo Optique, William R Talbot Fine Art, Toyopolis, and NIMAN Fine Art Gallery, with Santa Fe's newest artisan Food Hall opening soon. The property is located in Santa Fe, NM 87501, in Santa Fe County. The lot size is 1.5 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Strata Gallery Art Gallery Santa Fe Arts ... City Government Office Allan Houser Inc Art Gallery Innis Co Business Service Center Hutchison Oil & Gas Auto Repair Shop

    Suggested Use

    Restaurant Real Estate Agency Building Supply Dental Office Spa & Massage Center Law Firm Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Santa Fe
    County
    Santa Fe
    State
    New Mexico
    Longitude
    -105.9381345
    Latitude
    35.6888457

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    FAQs

    What type of property is this?
    Office units - Premier office space in the heart of Santa Fe.
    Where is this office units located?
    The property is located at 125 Lincoln Avenue unit 221 Santa Fe, NM.
    What is the lease rate?
    The lease rate is $35 SF/Yr.
    What are key features of this property?
    This property features: Premier downtown Santa Fe location on Lincoln Avenue, steps from the Plaza.; Class A office space with southwest interior design.; Versatile 3,058 RSF suite featuring 7 private offices, reception, open workspace, conference room, and breakroom.
    (817) 228-8514
    We can help!
    Listing Contact
    Jennifer Dyess
    Real Estate License ID: 53964
    Learn More
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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
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