Office Units with
For Sale
$750,000
Pending
328 Staab Street, Santa Fe, NM 87501
CommercialSale, Santa Fe, NM
Property Size2,067 SF
Lot Size0.17 Acres
Days on Market165
Property Features for 328 Staab Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
R12
Parking
6
Directions
From N Guadalupe, Right onto Jefferson St, Right onto Staab St, home is on the right
Standard status
Pending
APN
012400256
Size
2,067 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Description
LOT 13 BLK 4 To be determined by title binder
Legal Description
LOT 13 BLK 4 To be determined by title binder
Utilities
Sewer type
Public Sewer
Water source
Public
Amenities
courtyard
fireplace
ADA modifications
Building Details
Year built
1967
Building materials
Frame
Roof type
Flat
Listing Agency:
Barker Realty, LLC
(505) 982-9836
Listed By:
Natalie Rivera Benavent · License #49334
(505) 455-8750
Added: Mar 16
Changed: Aug 19
Last Checked: Aug 27 at 3:06AM
MLS# 202600915
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 2,067-square-foot office property combines a flexible professional layout with several distinct work areas. The interior includes five private offices or flex rooms, two bathrooms, wood flooring, and some ADA modifications. A detached studio with its own entrance, bathroom, and fireplace adds another office, creative, or storefront configuration. Multiple courtyard areas provide additional space for receptions, meetings, or staff use.
Built in 1967, the frame-constructed property has a flat roof and is served by public water and public sewer. Dedicated off-street parking, along with an official on-street permit, accommodates 5 to 6 vehicles. The property is located in downtown Santa Fe near the Plaza, with nearby dining, galleries, and luxury hotels contributing to a walkable professional setting.
Built in 1967, the frame-constructed property has a flat roof and is served by public water and public sewer. Dedicated off-street parking, along with an official on-street permit, accommodates 5 to 6 vehicles. The property is located in downtown Santa Fe near the Plaza, with nearby dining, galleries, and luxury hotels contributing to a walkable professional setting.
Key Highlights
- 2,067 square feet of heated, usable office space
- Five private offices or flex rooms and two bathrooms
- Detached studio with separate entrance, dedicated bathroom, and fireplace
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
$28,463
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
3.80%
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%
$569,260
$569.3K
Cap Rate 7%
$406,614
$406.6K
Cap Rate 9%
$316,256
$316.3K
Market Conditions
NOI Build-Up for 2,067 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
$44.6K $21.60/SF
− Vacancy
−$6.7K −$3.24/SF
EGI
$38.0K $18.36/SF
− OpEx
−$9.5K −$4.59/SF
NOI
$28.5K $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 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%
$569,260
Cap Rate 7%
$406,614
Cap Rate 9%
$316,256
Alternative Uses
Best Use
Office B
$406.6K
$355.8K – $474.4K
NOI $28,463 @ 7.0% cap · market cap 3.80%
Second Best
Mixed Use
$274.8K
$240.4K – $320.6K
NOI $19,233 @ 7.0% cap · market cap 2.56%
Theoretical Best
Office A
$561.3K
$491.1K – $654.8K
NOI $39,290 @ 7.0% cap · market cap 5.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,310
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
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Flexible downtown office property with private rooms, a separate studio, outdoor courtyard areas, and dedicated parking.
Where is this office units located?
The property is located at 328 Staab Street Santa Fe, NM.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: 2,067 square feet of heated, usable office space; Five private offices or flex rooms and two bathrooms; Detached studio with separate entrance, dedicated bathroom, and fireplace
