Flex Space with Fenced
For Sale
$3,900,000
Pending
4523 NM-14, Santa Fe, NM 87508
CommercialSale, Santa Fe, NM
Property Size19,140 SF
Lot Size4.01 Acres
Days on Market517
Property Features for 4523 NM-14
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
PLANNED DEVELOPMENT DISTRICT - Santa Fe Community College Overlay
Parking features
Parking Lot
Directions
I-25 to Hwy 599 Exit (South) to NM-14. At traffic light turn left. Property is on left side of road. No sign on property.
Standard status
Pending
APN
068801707
Size
19,142 SF
Lot size
4.01 Acres
Taxes and HOA fees
Tax Description
T16N R8E S25-26, TRACT B-2A, 4.013 AC
Legal Description
T16N R8E S25-26, TRACT B-2A, 4.013 AC
Utilities
Water source
Well, Private
Amenities
Showrooms
Private Office Spaces
Restroom Facilities
Break Rooms
Storage Areas
Building Details
Year built
1992
Flooring type
Tile, Concrete
Roof type
Metal
Listing Agency:
Origins Realty Group
(505) 709-7800
Listed By:
Olga C'de Baca · License #15136
(505) 310-4412
Added: Mar 31, 2025
Changed: Aug 19
Last Checked: Aug 29 at 12:06PM
MLS# 202501326
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 flex-space property combines a substantial commercial building with a fenced rear yard on a 4.01-acre site. The 19,142-square-foot facility, built in 1992, has approximately 20-foot ceilings and a layout that includes showrooms, private offices, storage areas, restrooms, break rooms, and a loading area with roll-up doors. Tile and concrete flooring, a metal roof, and a parking lot support a range of operational needs. The property is currently used for woodworking and metalworking activities.
Frontage on NM-14 places the site less than a mile from I-25 and approximately 5 miles from the Santa Fe Regional Airport. The property is outside the Santa Fe city limits and located within a Planned Development District near Santa Fe Brewing Company, Rancho Viejo, Colibri, Turquoise Trail, Valle Vista residential subdivisions, and Bisbee Court Industrial Park. Private well water serves the property.
Frontage on NM-14 places the site less than a mile from I-25 and approximately 5 miles from the Santa Fe Regional Airport. The property is outside the Santa Fe city limits and located within a Planned Development District near Santa Fe Brewing Company, Rancho Viejo, Colibri, Turquoise Trail, Valle Vista residential subdivisions, and Bisbee Court Industrial Park. Private well water serves the property.
Key Highlights
- 4.01‑acre commercial site with frontage on NM‑14
- 19,142 square feet of building area with approximately 20‑foot ceilings
- Less than a mile from I‑25 and approximately 5 miles from Santa Fe Regional Airport
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
$201,565
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
5.17%
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%
$4,031,300
$4.0M
Cap Rate 7%
$2,879,500
$2.9M
Cap Rate 9%
$2,239,611
$2.2M
Market Conditions
NOI Build-Up for 19,142 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
$344.6K $18.00/SF
− Vacancy
−$34.5K −$1.80/SF
EGI
$310.1K $16.20/SF
− OpEx
−$108.5K −$5.67/SF
NOI
$201.6K $10.53/SF
Area
Santa Fe County, NM
Vacancy
10.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
35.00%
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%
$4,031,300
Cap Rate 7%
$2,879,500
Cap Rate 9%
$2,239,611
Alternative Uses
Best Use
Flex RnD
$2.88M
$2.52M – $3.36M
NOI $201,565 @ 7.0% cap · market cap 5.17%
Second Best
Warehouse
$1.65M
$1.44M – $1.93M
NOI $115,587 @ 7.0% cap · market cap 2.96%
Theoretical Best
Office A
$5.20M
$4.55M – $6.06M
NOI $363,851 @ 7.0% cap · market cap 9.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
20 ft
Clear height
Yes
Fenced yard
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
116
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 87508, NM
19,156
Population
7,782
Households
2.5
Avg Household Size
54
Median Age
50%
College-Educated
90%
High-School Grad
169.2 sq mi
ZIP Area
113
Density / Sq Mi
$96,767
Median Household Income
$43,595
Median Earnings
$1,502
Median Rent
$529,000
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Versatile commercial facility with showroom, office, loading, storage, and production-oriented areas.
Where is this flex space located?
The property is located at 4523 NM-14 Santa Fe, NM.
What is the asking price?
The asking price for this property is $3,900,000.
What are key features of this property?
This property features: 4.01‑acre commercial site with frontage on NM‑14; 19,142 square feet of building area with approximately 20‑foot ceilings; Less than a mile from I‑25 and approximately 5 miles from Santa Fe Regional Airport
