Renovated Office
For Sale
$225,000
Pending
1456 S Saint Francis, Santa Fe, NM 87505
CommercialSale, Santa Fe, NM
Property Size1,152 SF
Lot Size0.03 Acres
Days on Market22
Property Features for 1456 S Saint Francis
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C-1,PUD
Directions
Centrally located in the St. Francis Professional Center (with the clock tower) just north of the St Francis and St Michaels interchange.
Standard status
Pending
APN
018100094
Size
1,152 SF
Lot size
0.03 Acres
Taxes and HOA fees
Tax Description
LOT 9 ST FRANCIS PROF CENTER T17N R 9E S35
Legal Description
LOT 9 ST FRANCIS PROF CENTER T17N R 9E S35
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1991
Roof type
Flat
Listing Agency:
Keller Williams Realty
(505) 983-5151
Listed By:
Daniel F. Huberman · License #REC20240904
(505) 795-9699
Added: Aug 5
Changed: Aug 19
Last Checked: Aug 26 at 5:06AM
MLS# 202603421
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 1,152-square-foot office unit in the St. Francis Professional Center was built in 1991 and substantially updated for modern workplace use. The layout includes two large offices, an executive office with a private entrance and kiva fireplace, a conference and reception area, kitchenette, two bathrooms, and an additional work nook. Pocket doors provide separation between the workspace and reception areas, while a private courtyard adds an outdoor amenity. Improvements include new AC and heat installed in 2023, new flooring and paint, professional radon mitigation, and a chimney extension for the fireplace.
Located at 1456 S Saint Francis in Santa Fe, the property includes parking and is served by public water and public sewer. C-1,PUD zoning, together with the professional association’s bylaws, allows office, professional, medical, and dental uses. Select custom furniture may be purchased with the property.
Located at 1456 S Saint Francis in Santa Fe, the property includes parking and is served by public water and public sewer. C-1,PUD zoning, together with the professional association’s bylaws, allows office, professional, medical, and dental uses. Select custom furniture may be purchased with the property.
Key Highlights
- 1,152‑square‑foot office unit in the St. Francis Professional Center
- Two large offices plus an executive office with private entrance and kiva fireplace
- New AC and heat installed in 2023
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$15,863
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.05%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$317,260
$317.3K
Cap Rate 7%
$226,614
$226.6K
Cap Rate 9%
$176,256
$176.3K
Market Conditions
NOI Build-Up for 1,152 SF
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.
Gross rent
$24.9K $21.60/SF
− Vacancy
−$3.7K −$3.24/SF
EGI
$21.2K $18.36/SF
− OpEx
−$5.3K −$4.59/SF
NOI
$15.9K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$317,260
Cap Rate 7%
$226,614
Cap Rate 9%
$176,256
Alternative Uses
Best Use
Office B
$226.6K
$198.3K – $264.4K
NOI $15,863 @ 7.0% cap · market cap 7.05%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$312.8K
$273.7K – $365.0K
NOI $21,897 @ 7.0% cap · market cap 9.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,788
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - C-1,PUD zoning supports office, professional, medical, and dental uses.
Where is this office units located?
The property is located at 1456 S Saint Francis Santa Fe, NM.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: 1,152‑square‑foot office unit in the St. Francis Professional Center; Two large offices plus an executive office with private entrance and kiva fireplace; New AC and heat installed in 2023
