Mixed-Use Property with Existing
For Sale
$8,200,000
1625 Paseo de Peralta, Santa Fe, NM 87501
CommercialSale, Santa Fe, NM
Property Size30,760 SF
Lot Size2.90 Acres
Price / SF$266.58
Days on Market262
Property Features for 1625 Paseo de Peralta
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
BCD
Directions
Corner of Alvord and Paseo de Peralta just west of the Railyard
Standard status
Active
APN
099307774
Size
30,760 SF
Lot size
2.90 Acres
Taxes and HOA fees
Tax Description
Property 1 Tract A as shown on plat of survey entitled "Lot Split Survey of 551 Alarid Street Into Tract A & Tract B Lying and Being Situated Projected Section 26 & 27, T.17N., R.09E., N.M.P.M., in the City and County of Santa Fe, New Mexico", recorded on August 20, 2018 in Plat Book 838, Page 040, as Instrument No. 1865543, records of Santa Fe County, New Mexico. AND Property 2 Tract B as shown on plat of survey entitled "Lot Split Survey of 551 Alarid Street Into Tract A & Tract B Lying and Being Situated Projected Section 26 & 27, T.17N., R.09E., N.M.P.M., in the City and County of Santa Fe, New Mexico", recorded on August 20, 2018 in Plat Book 838, Page 040, as Instrument No. 1865543, records of Santa Fe County, New Mexico.
Legal Description
Property 1 Tract A as shown on plat of survey entitled "Lot Split Survey of 551 Alarid Street Into Tract A & Tract B Lying and Being Situated Projected Section 26 & 27, T.17N., R.09E., N.M.P.M., in the City and County of Santa Fe, New Mexico", recorded on August 20, 2018 in Plat Book 838, Page 040, as Instrument No. 1865543, records of Santa Fe County, New Mexico. AND Property 2 Tract B as shown on plat of survey entitled "Lot Split Survey of 551 Alarid Street Into Tract A & Tract B Lying and Being Situated Projected Section 26 & 27, T.17N., R.09E., N.M.P.M., in the City and County of Santa Fe, New Mexico", recorded on August 20, 2018 in Plat Book 838, Page 040, as Instrument No. 1865543, records of Santa Fe County, New Mexico.
Utilities
Water source
Public
Building Details
Year built
1931
Listing Agency:
Real Estate Advisors, LLC
(505) 539-3200
Listed By:
Tai Bixby · License #40315
(505) 577-3524
Added: Dec 8, 2025
Changed: Aug 19
Last Checked: Aug 27 at 9:06PM
MLS# 202505309
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.
The property combines a 2.9-acre infill parcel with an existing 30,760-square-foot building constructed in 1931 and expanded during the 1970s. Its Business Capital District zoning supports hospitality, office, medical, educational, residential, retail, restaurant, cultural, religious, and assembly uses, subject to applicable height zones and Master Plan parameters.
Located directly adjacent to the Santa Fe Railyard, the site is near the Santa Fe Farmers’ Market, Violet Crown Cinema, SITE Santa Fe, El Museo Cultural, Railyard Plaza, REI, the Rail Trail, and Santa Fe Depot. The property includes the Alvord Master Plan, archaeological clearance, and pre-reviewed infrastructure. Public water serves the site, and the zoning framework identifies transit-oriented development considerations including walkability to transit, proximity to amenities, and reduced parking requirements.
Located directly adjacent to the Santa Fe Railyard, the site is near the Santa Fe Farmers’ Market, Violet Crown Cinema, SITE Santa Fe, El Museo Cultural, Railyard Plaza, REI, the Rail Trail, and Santa Fe Depot. The property includes the Alvord Master Plan, archaeological clearance, and pre-reviewed infrastructure. Public water serves the site, and the zoning framework identifies transit-oriented development considerations including walkability to transit, proximity to amenities, and reduced parking requirements.
Key Highlights
- 2.9‑acre infill parcel directly adjacent to the Santa Fe Railyard
- Existing 30,760‑square‑foot building constructed in 1931
- Business Capital District (BCD) zoning
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
$286,218
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
3.49%
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%
$5,724,360
$5.7M
Cap Rate 7%
$4,088,829
$4.1M
Cap Rate 9%
$3,180,200
$3.2M
Market Conditions
NOI Build-Up for 30,760 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
$498.3K $16.20/SF
− Vacancy
−$40.4K −$1.31/SF
EGI
$457.9K $14.89/SF
− OpEx
−$171.7K −$5.58/SF
NOI
$286.2K $9.30/SF
Area
Santa Fe County, NM
Vacancy
8.10%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
37.50%
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%
$5,724,360
Cap Rate 7%
$4,088,829
Cap Rate 9%
$3,180,200
Alternative Uses
Best Use
Mixed Use
$4.09M
$3.58M – $4.77M
NOI $286,218 @ 7.0% cap · market cap 3.49%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$8.35M
$7.31M – $9.74M
NOI $584,686 @ 7.0% cap · market cap 7.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,211
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - BCD zoning supports a broad range of redevelopment and institutional uses.
Where is this mixed-use property located?
The property is located at 1625 Paseo de Peralta Santa Fe, NM.
What is the asking price?
The asking price for this property is $8,200,000.
What are key features of this property?
This property features: 2.9‑acre infill parcel directly adjacent to the Santa Fe Railyard; Existing 30,760‑square‑foot building constructed in 1931; Business Capital District (BCD) zoning
