Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    321 Tesuque Dr Santa Fe, NM 87505

    Sponsored
    For Sale
    $1,100,000

    MULTI_FAMILY - Other - Santa Fe, NM

    Property size:
    2,604 SF
    Lot size:
    0.18 Acres
    Days on Market:
    13
    Last Refresh:
    Jan 26 at 12:06 am

    Property Features for 321 Tesuque Dr

    General Information

    Special listing conditions
    Standard
    Property type
    Residential Multi Family
    Property subtype
    Other
    TransactionType
    Standard
    Standard status
    Active
    Zoning
    R-1, 2, 3, 4, 5, 6
    Rooms
    Bedroom 1, Bedroom 4, Bathroom 1, Bathroom 4, Bedroom 3, Bathroom 3, Bathroom 2, Bedroom 2, Bedroom 5
    Bedrooms
    5
    APN
    011383168
    Interior features
    InteriorSteps
    Appliances
    Dryer, Dishwasher, Oven, Range, Refrigerator, WaterHeater, Washer
    Size
    2,604 SF
    Lot size
    0.18 Acres

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Electric (Heating), Baseboard
    Water source
    Public

    Building Details

    Year built
    1948
    Floors in Building
    1
    Number of units
    4
    Building materials
    Adobe, Brick, Block, Frame
    Roof type
    Flat
    Architectural style
    Other

    We can help!

    Listing Contact
    Justin C. Jaroszewski

    Keller Williams Realty (505) 983-5151

    Listing agent Justin C. Jaroszewski (830) 708-2283 License #49656

    Listing date Jan 14, 2026

    MLS# 202600151 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.

    Learn more

    Property Insight Report

    Overview

    Remodeled Santa Fe Multifamily Property

    This multifamily property in Santa Fe, New Mexico, features four units: one two-bedroom unit, two one-bedroom units, and one studio. The property, totaling 2604 square feet on a 0.18-acre lot, has been remodeled. Currently fully rented and generating income, this property is zoned R-1, 2, 3, 4, 5, 6.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Quadplexes

    Suggested Use

    Realty agency Law Firm Restaurant Dental Office Spa & Massage Hair Salon Nail Salon Clothing Store Building Supply Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Santa Fe
    County
    Santa Fe
    State
    New Mexico
    Longitude
    -105.9649994
    Latitude
    35.6680905

    Nearby Similar for Sale

    • $4,500,000
      6,215 SF

      Historic Santa Fe Compound on Acres

      Historic Santa Fe compound with multiple units and development potential.
      2175 6Th St, Santa Fe, NM 87505
      View Details
    • New
      $525,000
      Pending

      New Santa Fe Flex-Use Condominium

      Under construction flex-use condominium in Siler/Rufina Warehouse District.
      1189 Parkway Dr, Santa Fe, NM 87507
      View Details
    • $525,000
      1,587 SF

      New Santa Fe Flex-Use Condominium

      Under construction commercial condominium in Santa Fe's Siler/Rufina District.
      1189 Parkway Dr, Santa Fe, NM 87507
      View Details
    • $525,000
      1,587 SF

      New Santa Fe Flex-Use Condominium

      Under construction flex-use condominium in Santa Fe's Siler/Rufina District.
      1189 Parkway Dr, Santa Fe, NM 87507
      View Details
    • $525,000
      1,587 SF

      Flex-Use Condominium in Santa Fe

      New commercial condominium in Siler/Rufina District, suitable for various uses.
      1189 Parkway Dr, Santa Fe, NM 87507
      View Details
    • $525,000
      1,587 SF

      New Santa Fe Flex-Use Condominium

      Commercial, industrial, and flex-use condominium in Santa Fe's Siler/Rufina District.
      1189 Parkway Dr, Santa Fe, NM 87507
      View Details
    • $525,000
      Pending

      New Santa Fe Flex-Use Condominium

      Commercial, industrial, and flex-use condominium in Santa Fe's Siler/Rufina District.
      1189 Parkway Dr, Santa Fe, NM 87507
      View Details
    • $525,000
      1,587 SF

      New Santa Fe Flex-Use Condominium

      Under construction condominium in Santa Fe's Siler/Rufina District.
      1189 Parkway Dr, Santa Fe, NM 87507
      View Details
    • $525,000
      1,587 SF

      New Santa Fe Flex-Use Condominium

      Under construction flex-use condominium in Siler/Rufina District.
      1189 Parkway Dr, Santa Fe, NM 87507
      View Details
    • $525,000
      Pending

      Flex-Use Condominium in Santa Fe

      New commercial condominium development in Santa Fe's Warehouse and Arts District.
      1189 Parkway Dr, Santa Fe, NM 87507
      View Details
    • $525,000
      1,587 SF

      New Santa Fe Flex Condominium

      New commercial, industrial, and flex-use condominium development in Santa Fe.
      1189 Parkway Dr, Santa Fe, NM 87507
      View Details
    • $525,000
      1,587 SF

      Santa Fe Flex-Use Condominium Development

      New commercial, industrial, and flex-use condominium development in Santa Fe.
      1189 Parkway Dr, Santa Fe, NM 87507
      View Details

    FAQs

    What type of property is this?
    Quadplex - Four-unit, fully rented property in Santa Fe, New Mexico.
    Where is this quadplex located?
    The property is located at 321 Tesuque Dr 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: - Fully rented property earning great income.; - Remodeled and ready for new owner.; - Rare multi-family find in Santa Fe.
    (830) 708-2283
    Request Owner's contact information
    321 Tesuque Dr Santa Fe, NM 87505
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    321 Tesuque Dr
    Santa Fe, NM 87505
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    321 Tesuque Dr Santa Fe, NM 87505
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Justin C. Jaroszewski
    Real Estate License ID: 49656
    (830) 708-2283
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.