Creative Office Space with Modern
For Sale
$995,000
2904 E Rodeo Park Drive, Santa Fe, NM 87505
CommercialSale, Santa Fe, NM
Property Size4,418 SF
Lot Size1.41 Acres
Price / SF$225.22
Days on Market212
Property Features for 2904 E Rodeo Park Drive
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
BIP
Zoning description
Business Industrial Park
Parking
17
Parking features
Parking Lot
Directions
South on Rodeo Park Drive E off of Rodeo Road.
Standard status
Active
APN
910003924
Size
4,418 SF
Lot size
1.41 Acres
Taxes and HOA fees
Tax Description
RODEO PARK COMM CONDOS UNIT 4 T16N R 9E S11 1.410 A
Tax Annual Amount
2839
Legal Description
RODEO PARK COMM CONDOS UNIT 4 T16N R 9E S11 1.410 A
Utilities
Water source
Public
Building Details
Year built
2002
Building materials
Frame
Listing Agency:
SF Brown Real Estate
(505) 473-7740
Listed By:
Alicia Bertram · License #48316
(505) 930-0520
Added: Mar 13
Changed: Sep 3
Last Checked: Oct 10 at 8:06AM
MLS# 202600984
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.
Located at 2904 E Rodeo Park Drive in Santa Fe, this 4,418-square-foot creative office property occupies a single-level suite completed in 2002. The interior combines a defined reception area with private offices, open work zones, collaborative meeting areas, a conference room, and a kitchen. Polished concrete flooring, exposed structural ceilings, contemporary lighting, and substantial natural light create a distinctive workplace environment. The property is constructed with frame materials and includes ground-floor, ADA-accessible entry.
The office is situated within Rodeo Park Commercial Condominium Business Park and carries BIP zoning. A 1.41-acre lot, public water service, and on-site parking lot support the property. The parking lot was resurfaced in 2025. Exterior landscaping, master insurance, and parking lot maintenance are covered through the condominium association, while the owner is responsible for roof, stucco, and HVAC maintenance.
The office is situated within Rodeo Park Commercial Condominium Business Park and carries BIP zoning. A 1.41-acre lot, public water service, and on-site parking lot support the property. The parking lot was resurfaced in 2025. Exterior landscaping, master insurance, and parking lot maintenance are covered through the condominium association, while the owner is responsible for roof, stucco, and HVAC maintenance.
Key Highlights
- 4,418‑square‑foot single‑level creative office suite
- Interior includes reception, private offices, open work areas, conference room, kitchen, and collaborative meeting spaces
- Polished concrete floors, exposed structural ceilings, contemporary lighting, and natural light
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$60,836
Cap Rate
6.11%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,216,720
$1.2M
Cap Rate 7%
$869,086
$869.1K
Cap Rate 9%
$675,956
$676.0K
Market Conditions
NOI Build-Up for 4,418 SF
Gross rent
$95.4K $21.60/SF
− Vacancy
−$14.3K −$3.24/SF
EGI
$81.1K $18.36/SF
− OpEx
−$20.3K −$4.59/SF
NOI
$60.8K $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 Rate 5%
$1,216,720
Cap Rate 7%
$869,086
Cap Rate 9%
$675,956
Alternative Uses
Best Use
Office B
$869.1K
$760.5K – $1.01M
NOI $60,836 @ 7.0% cap · market cap 6.11%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.20M
$1.05M – $1.40M
NOI $83,977 @ 7.0% cap · market cap 8.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
494
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
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Market
Vacancy Rate% for Office in West region
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Frequently Asked Questions
What type of property is this?
Creative space - Ground-floor workplace with reception, private offices, collaborative areas, and ADA-accessible entry.
Where is this creative space located?
The property is located at 2904 E Rodeo Park Drive Santa Fe, NM.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: 4,418‑square‑foot single‑level creative office suite; Interior includes reception, private offices, open work areas, conference room, kitchen, and collaborative meeting spaces; Polished concrete floors, exposed structural ceilings, contemporary lighting, and natural light
