Remodeled Office Space in Santa
1424 Luisa Santa Fe, NM 87505
1424 Luisa, Santa Fe, NM, 87505
$495,000
For Sale
$495,000
SINGLE_FAMILY - Santa Fe, NM
Property Size2,078 SF
Lot Size0.05 Acres
Price / SF$238.21
Days on Market137
Property Features for 1424 Luisa
General Information
- Property type
- Residential
- Property subtype
- Office
- Zoning
- C-1
- Parking
- 10
- Standard status
- Active
- APN
- 018402145
- Size
- 2,078 SF
- Lot size
- 0.05 Acres
Taxes and HOA fees
- Tax Description
- T17N R 9E S26 1424 LUISA STREET CONDOMINIUM UNIT 1
Utilities
- Water source
- Public
Building Details
- Year built
- 1980
Listing Agency
Varela Real Estate, Inc.
(505) 982-2525
1526 Cerrillos Road, Santa Fe, NM
Listed by
Phillip Varela · License #18075
(505) 982-2525
Added: Mar 2 Checked: Jul 17 at 12:06 pm
MLS# 202600758
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 well-maintained and thoughtfully remodeled office space is located at 1424 Luisa Street, Units 1 & 2, in Santa Fe. The property offers functionality and professional appeal in a convenient location. The turnkey office environment features updated finishes, clean and modern interiors, and a flexible layout suitable for a variety of professional uses. It is ideal for established firms seeking a polished setting or growing businesses needing a fresh space. The property delivers efficiency and comfort. Two combined units offer flexible configuration with the possibility of leasing out a third smaller unit. The tastefully remodeled interior is well-maintained and great for personal use or investment. It provides a professional setting ideal for office or service-based businesses, with convenient access to main streets and surrounding commercial areas. Ample on-site parking is available. Each space offers a welcoming reception area, private offices, a conference area, and a kitchenette with functional workspaces designed to support productivity while maintaining a professional atmosphere for clients and staff. Located in a well-established commercial corridor of Santa Fe, the property provides accessibility and visibility while maintaining a quiet, professional setting. The lot size is 0.05 acres, and the property size is 2078 square feet. The zoning is C-1.
Key Highlights
- Turnkey, remodeled office space in a convenient Santa Fe location.
- Flexible layout suitable for various professional uses, including the possibility of leasing out a 3rd smaller unit.
- Well‑maintained and ideal for personal use or investment.
Local 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 | $44.9k | $21.60 |
| − Vacancy | −$6.7k | −$3.24 |
| EGI | $38.2k | $18.36 |
| − OpEx | −$9.5k | −$4.59 |
| NOI | $28.6k | $13.77 |
2,078 SF · lease $21.60/SF/yr · vacancy 15.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$408.8K
$357.7K – $476.9K
NOI $28,614 @ 7.0% cap · market cap 5.78%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$564.3K
$493.7K – $658.3K
NOI $39,499 @ 7.0% cap · market cap 7.98%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Farmers Insurance - James ...
Insurance Agency
Nakazono & Nakazono
Medical Clinic
Parnall Law Firm, ...
Law Firm
Tracey Lynn CPA
Accounting Firm
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FAQs
What type of property is this?
Office units - Turnkey office space with modern interiors and flexible layout.
Where is this office units located?
The property is located at 1424 Luisa Santa Fe, NM.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: Turnkey, remodeled office space in a convenient Santa Fe location.; Flexible layout suitable for various professional uses, including the possibility of leasing out a 3rd smaller unit.; Well‑maintained and ideal for personal use or investment.
