Retail Unit with Expansion
For Sale
$385,000
Pending
1005 S Saint Francis Drive, Santa Fe, NM 87505
CommercialSale, Santa Fe, NM
Property Size1,376 SF
Days on Market49
Property Features for 1005 S Saint Francis Drive
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning
BCD
Parking features
Parking Lot
Directions
From I-25, take Exit 282 for US-84/285, St. Francis Drive and head north toward Santa Fe. Continue north on S. St. Francis Drive for approx. 3 miles. The property is located at 1005 S. St. Francis Drive, at the signalized intersection of St. Francis Drive and Cerrillos Road. Suite 113 is located within the Crossroads Center.
Standard status
Pending
APN
970001557
Size
1,376 SF
Taxes and HOA fees
Tax Description
T17N R9E S26, PEN ROAD CENTER, UNIT C, 0.0 AC
Legal Description
T17N R9E S26, PEN ROAD CENTER, UNIT C, 0.0 AC
Utilities
Sewer type
Public Sewer
Water source
Public
Amenities
natural light
updated restroom with kitchenette
two separate rooms
Building Details
Year built
1968
Building materials
Frame
Roof type
Flat
Listing Agency:
Barker Realty, LLC
(505) 982-9836
Listed By:
Cozette E. Hansen · License #49928
(505) 399-0538
Added: Aug 26
Changed: Oct 8
Last Checked: Oct 13 at 5:06PM
MLS# 202603362
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 1,376-square-foot retail unit combines an open sales area with abundant daylight, approximately 11-foot ceilings, and a refreshed restroom with kitchenette space. Two additional rooms can accommodate offices, storage, or other workspace needs. The building was constructed in 1968 with frame construction and a flat roof.
The property is positioned at the intersection of S. St. Francis Drive and Cerrillos Road in Santa Fe. On-site parking is provided, with AutoZone and Chipotle identified among the neighboring businesses. Public water and public sewer serve the property. BCD zoning applies, and development rights for approximately 800 additional square feet create a documented expansion option.
The property is positioned at the intersection of S. St. Francis Drive and Cerrillos Road in Santa Fe. On-site parking is provided, with AutoZone and Chipotle identified among the neighboring businesses. Public water and public sewer serve the property. BCD zoning applies, and development rights for approximately 800 additional square feet create a documented expansion option.
Key Highlights
- 1,376 SF retail unit with approximately 11‑foot ceilings
- Development rights for approximately 800 additional square feet
- Two separate rooms for offices, storage, or workspace
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,450
Cap Rate
4.53%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$349,000
$349.0K
Cap Rate 7%
$249,286
$249.3K
Cap Rate 9%
$193,889
$193.9K
Market Conditions
NOI Build-Up for 1,376 SF
Gross rent
$27.2K $19.80/SF
− Vacancy
−$2.3K −$1.68/SF
EGI
$24.9K $18.12/SF
− OpEx
−$7.5K −$5.44/SF
NOI
$17.5K $12.68/SF
Area
Santa Fe County, NM
Vacancy
8.50%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$349,000
Cap Rate 7%
$249,286
Cap Rate 9%
$193,889
Alternative Uses
Best Use
Retail
$249.3K
$218.1K – $290.8K
NOI $17,450 @ 7.0% cap · market cap 4.53%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$373.6K
$326.9K – $435.9K
NOI $26,155 @ 7.0% cap · market cap 6.79%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
2,228
Businesses Nearby
281k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 34%
Shops & Services 34%
Groceries 28%
Apparel 3%
Whole Foods Market
Groceries
37,075 visits/mo
0.2 miles
Trader Joe's
Groceries
32,224 visits/mo
0.3 miles
McDonald's
Dining
31,451 visits/mo
0.1 miles
Dollar Tree
Shops & Services
23,120 visits/mo
0.4 miles
Dunkin' Donuts
Dining
21,098 visits/mo
0.2 miles
Demographics for 87505, NM
32,078
Population
18,733
Households
1.7
Avg Household Size
52
Median Age
54%
College-Educated
94%
High-School Grad
65.1 sq mi
ZIP Area
493
Density / Sq Mi
$75,912
Median Household Income
$41,169
Median Earnings
$1,348
Median Rent
$484,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in West region
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Frequently Asked Questions
What type of property is this?
Retail space - Bright commercial unit with flexible work areas, kitchenette space, and on-site parking near major Santa Fe retail corridors.
Where is this retail space located?
The property is located at 1005 S Saint Francis Drive Santa Fe, NM.
What is the asking price?
The asking price for this property is $385,000.
What are key features of this property?
This property features: 1,376 SF retail unit with approximately 11‑foot ceilings; Development rights for approximately 800 additional square feet; Two separate rooms for offices, storage, or workspace
