Add Listing
    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

    3600 Cerrillos Road unit 1001 Santa Fe, NM 87507

    View on Map
    Claim this Listing
    For Sale
    $261,000

    SINGLE_FAMILY - Santa Fe, NM

    Type:Office
    Property size:
    1,332 SF
    Added:
    Sep 15, 2025
    Days on Market:
    209
    Last Refresh:
    Apr 11 at 7:06 am

    Property Features for 3600 Cerrillos Road unit 1001

    General Information

    Property type
    Residential
    Property subtype
    Office
    Zoning
    C-2
    Standard status
    Active
    APN
    910000931
    Size
    1,332 SF

    Utilities

    Water source
    Public

    Building Details

    Year built
    1995

    We can help!

    Listing Contact
    John Shepler

    Listing agent John Shepler License #8936

    Listing office Shepler Commercial, LLC 301 N Guadalupe, Suite 205, Santa Fe, NM

    Listing date Sep 15, 2025

    MLS# 202503491

    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.

    Overview

    Santa Fe Live/Work Investment Opportunity

    Located in Santa Fe, this property is situated within a development known for its live/work spaces. The unit is currently configured as an investment property with four tenants, each occupying their own office. The current net operating income is approximately $12,263, excluding utilities. Market data suggests a potential monthly lease rate of around $600 per office. The property's expenses, including taxes, insurance, and HOA fees, total approximately $10,537. The existing leases are structured on a month-to-month basis, offering flexibility for a new owner to either continue leasing to the current tenants or utilize the space for their own purposes. The unit is an end-cap location within the development, which provides ample parking. The property is zoned C-2 and has a size of 1332 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Luluscape (Bike/Boat/Book/etc) Store Integrative Medicine Institute Physician English Erin Engineer Michael Ray Martin ... Dental Office Lopez-Hinds Samantha Dental Office

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

    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
    -106.0071184
    Latitude
    35.6431067

    Nearby Similar for Sale

    • $995,000
      4,418 SF

      Modern Office Building For Sale

      Standalone office with modern interior, ideal for creative professionals.
      2904 E Rodeo Park Drive unit: 200, Santa Fe, NM 87505
      View Details
    • $625,000
      3,345 SF

      Santa Fe Commercial Property For Sale

      High-traffic commercial property with five units in a prime location.
      1915 Cerrillos Rd, Santa Fe, NM 87505
      View Details
    • $1,700,000
      9,592 SF

      Santa Fe Office/Research Facility

      9,592 SF office/research facility on 0.9 acres in Santa Fe.
      124 Siringo Road, Santa Fe, NM 87505
      View Details
    • $449,900
      1,126 SF

      Santa Fe Corner Unit with Balcony

      Modern live-work space with mountain views in central Santa Fe.
      1109 Paseo Corazon unit: 5, Santa Fe, NM 87507
      View Details
    • $2,900,000
      19,911 SF

      Downtown Santa Fe Plaza Office Building

      Three-story office building with restaurant in the heart of Santa Fe.
      142 W Palace, Santa Fe, NM 87501
      View Details
    • $3,250,000
      20,467 SF

      Professional Office Building in Santa Fe

      Two-story office building near medical hub with flexible configurations.
      2006 Botulph Road, Santa Fe, NM 87505
      View Details
    • $825,000
      1,742 SF

      Santa Fe Duplex with Rental Potential

      Duplex adaptable for single-family, long-term, or short-term rental.
      1417 Agua Fria Street, Santa Fe, NM 87505
      View Details
    • $449,000
      2,562 SF

      Flexible Office Space in Santa Fe

      Versatile office space suitable for wellness or professional practices.
      1482 S St. Francis Drive unit: A, Santa Fe, NM 87505
      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 Drive unit: D3, 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 Drive unit: B2, 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 Drive unit: D2, 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 Drive unit: B1, Santa Fe, NM 87507
      View Details

    FAQs

    What type of property is this?
    Live-work space - Ground floor unit with tenants, ideal for live/work or investment.
    Where is this live-work space located?
    The property is located at 3600 Cerrillos Road unit 1001 Santa Fe, NM.
    What is the asking price?
    The asking price for this property is $261,000.
    What are key features of this property?
    This property features: Investment property with existing tenants and current NOI of approximately $12,263 plus utilities.; Potential to increase rental income; market suggests each office could lease for $600/month minimum.; Flexibility to occupy the unit for live/work or other purposes due to month‑to‑month leases.
    (505) 660-5650
    We can help!
    Listing Contact
    John Shepler
    Real Estate License ID: 8936
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!