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    Freestanding Commercial Building on Cerrillos

    647 Cerrillos Road Santa Fe, NM 87501

    647 Cerrillos Road, Santa Fe, NM, 87501
    $930,000
    For Sale
    Claim this Listing
    $930,000

    SINGLE_FAMILY - Santa Fe, NM

    Property Size2,746 SF
    Lot Size0.15 Acres
    Price / SF$338.67
    AddedApr 8
    Days on Market99
    Last RefreshJul 15 at 3:06 am

    Property Features for 647 Cerrillos Road

    General Information

    Property type
    Residential
    Property subtype
    Retail
    Zoning
    BCD
    Standard status
    Active
    APN
    12812672
    Size
    2,746 SF
    Lot size
    0.15 Acres

    Taxes and HOA fees

    Tax Description
    per binder

    Utilities

    Sewer type
    Public Sewer
    Water source
    Public

    Building Details

    Year built
    1967

    Listing agent Tai Bixby License #40315

    Listing office Real Estate Advisors, LLC 1227 Paseo de Peralta, Albuquerque, NM

    Listing date Apr 8, 2026

    MLS# 202601461

    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.

    A freestanding commercial building is available for sale on Cerrillos Road, a high-traffic corridor in Santa Fe with approximately 25,000 vehicles per day. Constructed in 1967, the building has a size of approximately 2,746 square feet and is situated on a lot of approximately 0.156 acres. The property includes 9 paved on-site parking spaces and offers street visibility. Formerly occupied by La Unica Dry Cleaners, the property is suitable for various uses under BCD (Business Capital District) zoning, including restaurant, cafe, retail, office, personal services, medical, educational, and residential purposes. This makes it suitable for an owner-user or investor. The location is near Whole Foods, dining and retail destinations, and the Sage Hotel, and is located blocks from the Santa Fe Railyard. The owner has addressed prior dry cleaning chemical impacts through a Voluntary Remediation Agreement with the New Mexico Environment Department. A Certificate of Compliance is anticipated in Summer 2026.

    Key Highlights

    • High‑traffic location on Cerrillos Road with approximately 25,000 vehicles per day.
    • Flexible BCD zoning allows for a wide range of uses (restaurant, retail, office, residential, etc.).
    • Freestanding building with 2,746 SF on a 0.156‑acre lot with 9 on‑site parking spaces.

    Local 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 $54.4k $19.80
    − Vacancy −$4.6k −$1.68
    EGI $49.7k $18.12
    − OpEx −$14.9k −$5.44
    NOI $34.8k $12.68
    2,746 SF · lease $19.80/SF/yr · vacancy 8.50% · expense 30.00%

    Alternative Uses

    Best Use
    Retail
    $497.5K
    $435.3K – $580.4K (±1% cap)
    NOI $34,824 @ 7.0% cap · market cap 3.74%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Office A
    $745.7K
    $652.5K – $869.9K (±1% cap)
    NOI $52,196 @ 7.0% cap · market cap 5.61%
    Zoning and permitted uses should be independently verified with local authorities.

    Property Analytics

    Property Profile Location Intelligence

    Current Use by Public Records

    La Unica Dry ... (Bike/Boat/Book/etc) Store

    Suggested Use

    Locksmith (Bike/Boat/Book/etc) Store Storage Facility Butcher Nursing Home (Bike/Boat/Book/etc) Store (Bike/Boat/Book/etc) Store Mobile Phone Store Clothing & Fashion Store Tanning Salon

    Zoning and permitted uses should be independently verified with local authorities.

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    FAQs

    What type of property is this?
    Storefront property - Rare commercial building on high-traffic corridor, ideal for owner-user.
    Where is this storefront property located?
    The property is located at 647 Cerrillos Road 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: High‑traffic location on Cerrillos Road with approximately 25,000 vehicles per day.; Flexible BCD zoning allows for a wide range of uses (restaurant, retail, office, residential, etc.).; Freestanding building with 2,746 SF on a 0.156‑acre lot with 9 on‑site parking spaces.
    Contact an agent
    (505) 577-3524
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    Tai Bixby
    Tai Bixby
    Real Estate License ID: 40315
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