Work-Live Condominium
3600 Cerrillos Road Santa Fe, NM 87507
For Sale
$395,000
COMMERCIAL - Contemporary - Santa Fe, NM
Property Size1,395 SF
Price / SF$283.15
Days on Market19
Property Features for 3600 Cerrillos Road
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Zoning
- C-2
- Interior features
- NoInteriorSteps
- Accessibility
- Accessible Approach with Ramp
- Standard status
- Active
- APN
- 990001404
- Size
- 1,395 SF
Taxes and HOA fees
- Tax Description
- UNIT 501, .028 AC, THE LOFTS CONDOMINIUM, S5 T16N R 9E Acres: 0.0000
Utilities
- Sewer type
- Public Sewer
- Heating system
- Natural Gas, Forced Air
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Year built
- 1995
- Roof type
- Flat, Tar/Gravel
- Architectural style
- Contemporary
Listing Agency:
Realty One of Santa Fe
(505) 257-9123
Listed By:
Theresa Shrader · License #49724
(505) 930-7070
Added: Jul 6
Changed: Jul 12
Last Checked: Jul 24 at 8:06PM
MLS# 202602992
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 work-live condominium community features multiple units, with three currently rented and two units that have been combined and are empty. The condominium is configured as a ground-floor corner unit, and the back unit includes private access to an outdoor patio space set within well-kept garden areas. The overall condominium setup includes four units, with the possibility of five.
Located at 3600 Cerrillos Road in Santa Fe, New Mexico, the property is offered under C-2 zoning. The existing layout supports a work-live use within the condominium community while also offering flexibility for how the units may be configured or utilized going forward.
Located at 3600 Cerrillos Road in Santa Fe, New Mexico, the property is offered under C-2 zoning. The existing layout supports a work-live use within the condominium community while also offering flexibility for how the units may be configured or utilized going forward.
Key Highlights
- Currently 3 units are rented; 2 units have been combined and are currently empty
- Condominium work/live community with 4 units and possibility for 5
- Ground‑floor corner unit; back unit has private access to an outdoor patio
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $30.1k | $21.60 |
| − Vacancy | −$4.5k | −$3.24 |
| EGI | $25.6k | $18.36 |
| − OpEx | −$6.4k | −$4.59 |
| NOI | $19.2k | $13.77 |
1,395 SF · lease $21.60/SF/yr · vacancy 15.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$274.4K
$240.1K – $320.2K
NOI $19,209 @ 7.0% cap · market cap 4.86%
Second Best
Mixed Use
$185.4K
$162.3K – $216.3K
NOI $12,980 @ 7.0% cap · market cap 3.29%
Theoretical Best
Office A
$378.8K
$331.5K – $441.9K
NOI $26,516 @ 7.0% cap · market cap 6.71%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
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
FAQs
What type of property is this?
Live-work space - Ground-floor corner work-live condominium with rented units and a private outdoor patio in select back unit.
Where is this live-work space located?
The property is located at 3600 Cerrillos Road Santa Fe, NM.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: Currently 3 units are rented; 2 units have been combined and are currently empty; Condominium work/live community with 4 units and possibility for 5; Ground‑floor corner unit; back unit has private access to an outdoor patio
