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    Polo Drive Santa Fe, NM 87507

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    Claim this Listing
    New
    For Sale
    $7,000,000

    COMMERCIAL - Santa Fe, NM

    Property size:
    130 SF
    Lot size:
    114.00 Acres
    Price / SF:
    $53,846/SF
    Added:
    Apr 28, 2026
    Days on Market:
    5
    Last Refresh:
    May 2 at 3:06 pm

    Property Features for Polo Drive

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Property condition
    Under Construction
    Zoning
    I-1,Other,Rural Residenti
    Parking features
    On Street
    Standard status
    Active
    APN
    68100876
    Size
    130 SF
    Lot size
    114.00 Acres

    Taxes and HOA fees

    Tax Description
    Per title commitment.

    Utilities

    Sewer type
    Septic Tank, Septic Needed
    Water source
    Well, Private

    Building Details

    Year built
    2026

    We can help!

    Listing Contact
    Tai Bixby
    Tai Bixby

    Listing agent Tai Bixby License #40315

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

    Listing date Apr 28, 2026

    MLS# 202601354

    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 RV Resort Site

    Located at Polo Drive in Santa Fe, New Mexico, this commercial property offers a fully entitled RV resort and equestrian/event development site. The property consists of approximately 114 acres, with 57 acres owned and an additional 57 acres under a ground lease. Approvals are in place for a 130-space RV campground, planned to be developed in three phases. The site includes 30 AFY of water rights from the Hagerman Well and a North-South access easement. Its adjacency to BLM land supports various outdoor recreation opportunities. Existing equestrian infrastructure and event use provide additional flexibility for potential business ventures. The zoning is I-1 and Rural Residenti.
    Location Intelligence

    Current Use by Public Records

    Campgrounds

    Map

    City
    Santa Fe
    County
    Santa Fe
    State
    New Mexico
    Longitude
    -106.1194643
    Latitude
    35.6206627

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    FAQs

    What type of property is this?
    Campground - Entitled RV resort and equestrian development site in Santa Fe.
    Where is this campground located?
    The property is located at Polo Drive Santa Fe, NM.
    What is the asking price?
    The asking price for this property is $7,000,000.
    What are key features of this property?
    This property features: Fully entitled RV resort development site with approvals for 130 spaces in three phases.; Approximately +/-114 acres (57 acres owned and 57 acres +/- ground lease).; Includes **30 AFY water rights from the Hagerman Well.**
    (505) 577-3524
    We can help!
    Listing Contact
    Tai Bixby
    Tai Bixby
    Real Estate License ID: 40315
    Learn More
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    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.

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    Polo Drive, Santa Fe, NM 87507

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