Building Details

Year built 1974

Listing Agency: Shepler Commercial, LLC Show Phone

Listed By: John Shepler · License #8936 Show Phone

Added: Aug 14 Changed: Aug 19 Last Checked: Oct 7 at 8:06AM

Report an Issue

MLS# 202603583

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 office building contains approximately 5,211 square feet arranged across two levels. The ground floor provides 2,666 square feet, while the lower level or basement adds approximately 2,545 square feet. Constructed in 1974, the property is classified under BCD zoning and has public water service.

The building occupies a corner at W. Manhattan Avenue and Paseo de Peralta in Santa Fe, with the Roundhouse located one block away. Its central setting places the property near state government offices and other downtown-area activity. The parcel measures 0.21 acres and is addressed at 1322 Paseo de Peralta.

Key Highlights

• Approximately 5,211 square feet of office space
• 2,666 square feet on the ground floor
• Approximately 2,545 square feet in the lower level/basement

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$71,755

Cap Rate

5.52%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,435,100 $1.4M

Cap Rate 7%

$1,025,071 $1.0M

Cap Rate 9%

$797,278 $797.3K

Market Conditions

NOI Build-Up for 5,211 SF

Gross rent

$112.6K $21.60/SF

− Vacancy

−$16.9K −$3.24/SF

EGI

$95.7K $18.36/SF

− OpEx

−$23.9K −$4.59/SF

NOI

$71.8K $13.77/SF

Area

Santa Fe County, NM

Vacancy

15.00%

Lease Rate

$21.60 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,435,100

Cap Rate 7%

$1,025,071

Cap Rate 9%

$797,278

Alternative Uses

Best Use

Office B

$1.03M

$896.9K – $1.20M (±1% cap)

NOI $71,755 @ 7.0% cap · market cap 5.52%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$1.42M

$1.24M – $1.65M (±1% cap)

NOI $99,051 @ 7.0% cap · market cap 7.62%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Unlock full access to Insights Subscribe to Realmo Intelligence

Open Analytics

Current Use

IATSE Local 480 Advocacy Group Perrin Law Firm Law Firm Rocky Mountain Mortgage Loan Service Gamble Brooke Law Firm Krishna Picard Law Firm

Suggested Use

Top Pick Auto Repair Shop Auto Parts Store Building Supply Big Box & Wholesale Store HVAC Service Locksmith

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

4,561

Businesses Nearby

Explore this area Business Placement

Demographics for 87501, NM

15,116

Population

10,480

Households

1.4

Avg Household Size

58

Median Age

61%

College-Educated

97%

High-School Grad

50.6 sq mi

ZIP Area

299

Density / Sq Mi

$81,229

Median Household Income

$52,851

Median Earnings

$1,516

Median Rent

$649,100

Median Home Value

Market

Vacancy Rate% for Office in West region

11% 2019

14.1% 2020

15.5% 2021

17.2% 2022

19.9% 2023

21% 2024

20.8% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this office buildings located? What is the asking price? Find similar properties What are key features of this property?

Similar For Sale Nearby

Historic Single-Tenant Office Building

216 Washington Avenue, Santa Fe, NM 87501

$3,000,000

4,373 SF

View details

Renovated Office Condominium Portfolio

417 E Palace Avenue, Santa Fe, NM 87501

$1,875,000

2,962 SF

View details

Corner Flex Space with Industrial Character

1300 Rufina, Santa Fe, NM 87507

$723,000

2,242 SF

View details

Medical Office Building with Treatment Rooms

1313 S. St. Francis Drive, Santa Fe, NM 87505

$646,000

2,153 SF

View details

Freestanding Medical Office

409 Botulph Lane, Santa Fe, NM 87505

$650,000

2,069 SF

View details

Downtown Two-Story Office Building

124 Marcy Street, Santa Fe, NM 87501

$5,500,000

9,924 SF

View details

Downtown Santa Fe Mixed-Use Building

132 Marcy Street E, Santa Fe, NM 87501

$4,650,000

11,455 SF

View details

Two-Story Office Building

2006 Botulph Road, Santa Fe, NM 87505

$3,250,000

20,467 SF

View details

Freestanding Office Building

1523 Taos Street, Santa Fe, NM 87505

$370,000

1,195 SF

View details

Multi-Tenant Medical Office Building

435 Saint Michaels Drive, Santa Fe, NM 87505

$9,000,000

27,839 SF

View details

Downtown Office Building with Basement

214 Mckenzie St, Santa Fe, NM 87501

Contact for pricing

1,735 SF

View details

Three-Level Mixed-Use Property

116 W San Francisco Street, Santa Fe, NM 87501

$18,000,000

60,576 SF

View details

Frequently Asked Questions

What type of property is this?

Office building - Two-level office property with ground-floor and lower-level areas near Santa Fe’s Roundhouse.

Where is this office building located?

The property is located at 1322 Paseo de Peralta Santa Fe, NM.

What is the asking price?

The asking price for this property is $1,300,000.

What are key features of this property?

This property features: Approximately 5,211 square feet of office space; 2,666 square feet on the ground floor; Approximately 2,545 square feet in the lower level/basement