C-2 Retail and Office
For Sale
$1,100,000
1932 Cerrillos Road, Santa Fe, NM 87505
SINGLE_FAMILY - Santa Fe, NM
Property Size4,631 SF
Lot Size0.39 Acres
Price / SF$237.53
Days on Market611
Property Features for 1932 Cerrillos Road
General Information
Property type
Residential
Property subtype
Office
Zoning
C-2
Parking features
Parking Lot, On Street, Garage
Directions
From downtown go southwest on Cerrillos Road, 1932 Cerrillo Road. (La Unica Dry Cleaners) will be on the left hand side.
Standard status
Active
APN
011264896
Size
4,631 SF
Lot size
0.39 Acres
Taxes and HOA fees
Tax Year
2023
Tax Description
LOT 14 BLK 1 LLANO ADDN LOT 1 &13 BLK 1 LLANO ADDN 1901 CHAMISA ST DBA LA UNICA ALSO ADVANCED AUTO WORKS
Tax Annual Amount
6305
Legal Description
LOT 14 BLK 1 LLANO ADDN LOT 1 &13 BLK 1 LLANO ADDN 1901 CHAMISA ST DBA LA UNICA ALSO ADVANCED AUTO WORKS
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Flooring type
Concrete, Carpet, Tile
Building materials
Adobe, Block, Frame, MetalSiding
Roof type
Flat, Tar/Gravel
Listing Agency:
Barker Realty, LLC
(505) 982-9836
Listed By:
James Delgado · License #39148
(505) 699-7472
Added: Nov 26, 2024
Changed: Jul 28
Last Checked: Jul 30 at 1:06PM
MLS# 202404911
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 C-2 zoned freestanding property includes a building currently operated by the owner as La Unica Drycleaner, along with additional rental income from an office tenant and an automotive maintenance tenant. The offering is for the real estate only; the business interests and trade name La Unica are available for sale separately, and interested parties should inquire with the broker.
The property is located on a busy stretch of Cerrillos Road with excellent visibility, near a mix of retail, automotive, and restaurant users including Toyota, Beck and Bulow, Jiffy Lube, Budget Car Rental, Mampuku Ramen, Jambo, Chase Bank, Dion's Pizza, and Chick-Fil-A. Utilities include 2 water meters, with separate meters for gas and electricity.
Zoning C-2 allows for office, retail, automotive, medical, dental, restaurant, public assembly, and more. Phase 1 Environmental Site Assessment is complete, and Phase 2 is expected to be completed shortly. The City and State have plans for new sidewalks, a median, and street trees for this section of Cerrillos Road.
The property is located on a busy stretch of Cerrillos Road with excellent visibility, near a mix of retail, automotive, and restaurant users including Toyota, Beck and Bulow, Jiffy Lube, Budget Car Rental, Mampuku Ramen, Jambo, Chase Bank, Dion's Pizza, and Chick-Fil-A. Utilities include 2 water meters, with separate meters for gas and electricity.
Zoning C-2 allows for office, retail, automotive, medical, dental, restaurant, public assembly, and more. Phase 1 Environmental Site Assessment is complete, and Phase 2 is expected to be completed shortly. The City and State have plans for new sidewalks, a median, and street trees for this section of Cerrillos Road.
Key Highlights
- Property on busy Cerrillos Road with 30,000 VPD traffic for strong visibility to passing motorists
- C‑2 zoning allows office, retail, automotive, medical, dental, restaurant, and public assembly uses
- Includes 2 water meters plus separate meters for gas and electricity; served by public water and public sewer
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 | $100.0k | $21.60 |
| − Vacancy | −$15.0k | −$3.24 |
| EGI | $85.0k | $18.36 |
| − OpEx | −$21.3k | −$4.59 |
| NOI | $63.8k | $13.77 |
4,631 SF · lease $21.60/SF/yr · vacancy 15.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$911.0K
$797.1K – $1.06M
NOI $63,769 @ 7.0% cap · market cap 5.80%
Second Best
Retail
$839.0K
$734.1K – $978.8K
NOI $58,730 @ 7.0% cap · market cap 5.34%
Theoretical Best
Office A
$1.26M
$1.10M – $1.47M
NOI $88,026 @ 7.0% cap · market cap 8.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
30,000 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
1,395
Businesses Nearby
Under-served
Demand for This Use
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?
Storefront property - Freestanding C-2 property with owner-operated dry cleaner plus separate office and automotive maintenance rental income.
Where is this storefront property located?
The property is located at 1932 Cerrillos Road Santa Fe, NM.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Property on busy Cerrillos Road with 30,000 VPD traffic for strong visibility to passing motorists; C‑2 zoning allows office, retail, automotive, medical, dental, restaurant, and public assembly uses; Includes 2 water meters plus separate meters for gas and electricity; served by public water and public sewer
