High Visibility Santa Fe Commercial
For Sale
$930,000
647 Cerrillos Rd, Santa Fe, NM 87501
SINGLE_FAMILY - Santa Fe, NM
Property Size2,900 SF
Lot Size0.16 Acres
Price / SF$320.69
Days on Market700
Property Features for 647 Cerrillos Rd
General Information
Property type
Residential
Property subtype
Retail
Zoning
BCD
Zoning description
BCDER
Parking features
Parking Lot
Directions
From downtown, south on Cerrillos Rd, cross over Paseo de Peralta, property will be on the left hand side of Cerrillos Rd
Standard status
Active
APN
019208505
Size
2,900 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Description
per title binder
Legal Description
per title binder
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Flooring type
Tile, Concrete
Building materials
Adobe, Block, Frame
Roof type
Built-Up
Listing Agency:
Barker Realty, LLC
(505) 982-9836
Listed By:
James Delgado · License #39148
(505) 699-7472
Added: Aug 30, 2024
Changed: Jul 28
Last Checked: Jul 30 at 1:06PM
MLS# 202403588
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 commercial building offers high visibility in downtown Santa Fe. The property, previously home to La Unica Dry Cleaners, is situated in a prime location. It features approximately 2,900 square feet of space and is located in the BCD (Business Commercial District). Permitted uses include restaurant, bed & breakfast, art gallery, daycare, office building, and retail. The property also includes off-street designated parking spaces. The lot size is 0.16 acres.
Key Highlights
- Prime downtown Santa Fe location with high visibility.
- Approximately 2,900 sq ft of space in the Business Commercial District (BCD).
- Wide range of permitted uses: restaurant, B&B, art gallery, daycare, office, retail.
Financial Insights For Retail
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 | $57.4k | $19.80 |
| − Vacancy | −$4.9k | −$1.68 |
| EGI | $52.5k | $18.12 |
| − OpEx | −$15.8k | −$5.44 |
| NOI | $36.8k | $12.68 |
2,900 SF · lease $19.80/SF/yr · vacancy 8.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$525.4K
$459.7K – $613.0K
NOI $36,778 @ 7.0% cap · market cap 3.95%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$787.5K
$689.0K – $918.7K
NOI $55,123 @ 7.0% cap · market cap 5.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,681
Businesses Nearby
203k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 44%
Shops & Services 28%
Groceries 18%
Apparel 9%
Whole Foods Market
Groceries
37,075 visits/mo
0.2 miles
McDonald's
Dining
31,451 visits/mo
0.4 miles
Dunkin' Donuts
Dining
21,098 visits/mo
0.5 miles
Starbucks
Dining
18,085 visits/mo
0.4 miles
Speedway
Shops & Services
17,723 visits/mo
0.5 miles
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 Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Oldies Flower Co. — 1424 Paseo De Peralta, Santa Fe, NM 87501
Frequently Asked Questions
What type of property is this?
Storefront property - Prime location commercial building with diverse business opportunities.
Where is this storefront property located?
The property is located at 647 Cerrillos Rd Santa Fe, NM.
What is the asking price?
The asking price for this property is $930,000.
What are key features of this property?
This property features: Prime downtown Santa Fe location with high visibility.; Approximately 2,900 sq ft of space in the Business Commercial District (BCD).; Wide range of permitted uses: restaurant, B&B, art gallery, daycare, office, retail.
