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    Santa Fe Land with Mountain Views Title is generated by Realmo AI

    28 Tierra Antigua, Santa Fe, NM 87506

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    For Sale
    $295,000

    LAND - Santa Fe, NM

    Lot size:
    0.52 Acres
    Added:
    Mar 29, 2025
    Days on Market:
    425
    Last Refresh:
    May 27 at 6:06 pm

    Property Features for 28 Tierra Antigua

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    R-1, 2, 3, 4, 5, 6
    Standard status
    Active
    APN
    99312332
    Lot size
    0.52 Acres

    Taxes and HOA fees

    Tax Description
    As accurately described in the Title Binder

    Utilities

    Water source
    Public

    We can help!

    Listing Contact
    Tom Abrams
    Tom Abrams

    Listing agent Tom Abrams License #36244

    Listing office Corcoran Plaza Properties 216 Washington Ave, Santa Fe, NM

    Listing date Mar 29, 2025

    MLS# 202500543 Listing URL

    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.

    HighLights

    • Prime location less than 5 miles from downtown Santa Fe with panoramic mountain views and breathtaking sunsets.
    • Over 50% of the 44‑acre community is dedicated to open space, offering privacy and a connection to nature.
    • Sensible covenants, paved roads, Santa Fe County water, PNM electric, NM gas, Comcast fiber optic lines, and community sewer are available.
    • Relatively level lots allow for easy construction, with options for lot and home packages through the developer or using your own builder/architect.
    • Access to a community trail system that connects to nearby public trails.
    • Low $166/month HOA dues.

    Overview

    Lot #22 at Tierra Antigua is part of a newly developed 44-acre community featuring 23 planned single-family lots. The community is situated less than 5 miles from downtown Santa Fe, adjacent to the eastern edge of the Las Campanas subdivision. This lot offers panoramic mountain views and access to the 50% of the community dedicated to open space. Tierra Antigua includes sensible covenants, paved roads, Santa Fe County water, PNM electric, NM gas, Comcast fiber optic lines, and community sewer on relatively level lots. Lot and home packages are available through the developer, Arete Homes, with various floor plans to choose from, or you can work with your own builder/architect to design your dream home. Tierra Antigua is located just 15 minutes from downtown Santa Fe and offers only 23 homesites, with over 50% of the land preserved as open space. All homesites have utilities at the lot line including County water, Las Campanas Sewer, and Xfinity. The community features a trail system that connects to a nearby public trail system. The HOA dues are $166 per month. The lot size is 0.52 acres and is zoned R-1, 2, 3, 4, 5, 6.
    Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Santa Fe
    County
    Santa Fe
    State
    New Mexico
    Longitude
    -106.0206189
    Latitude
    35.7131761

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    FAQs

    What type of property is this?
    Residential land & home lot - Residential land in a newly developed community near downtown Santa Fe.
    Where is this residential land & home lot located?
    The property is located at 28 Tierra Antigua Santa Fe, NM.
    What is the asking price?
    The asking price for this property is $295,000.
    What are key features of this property?
    This property features: Prime location less than 5 miles from downtown Santa Fe with panoramic mountain views and breathtaking sunsets.; Over 50% of the 44‑acre community is dedicated to open space, offering privacy and a connection to nature.; Sensible covenants, paved roads, Santa Fe County water, PNM electric, NM gas, Comcast fiber optic lines, and community sewer are available.
    (505) 920-6402
    We can help!
    Listing Contact
    Tom Abrams
    Tom Abrams
    Real Estate License ID: 36244
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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