Retail Unit with Expansion
For Sale
$385,000
1005 Saint Francis Drive, Santa Fe, NM 87505
Bright commercial suite with private rooms, kitchenette space, and on-site parking.
Property Size1,376 SF
Price / SF$279.80
Days on Market8
Property Features for 1005 Saint Francis Drive
General Information
Standard status
Active
Size
1,376 SF
Property subtype
Retail
Amenities
natural light
updated restroom with kitchenette
two separate rooms
3
Parking.
Paved Driveway, Lot.
High Traffic.
Building Details
Year Built
1968
Listing Agency:
Barker Realty, LLC
(505) 399-0538
Listed By:
Cozette Hansen · License #49928
(505) 399-0538
Source:
Xome
Added: Aug 24
Changed: Aug 30
Last Checked: Aug 30 at 7:01PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Barker Realty, LLC
Investment Insights
Based on property information with market context.
This 1,376-square-foot retail unit at Crossroads Center includes an open sales area with abundant natural light and approximately 11-foot ceilings. The interior also provides an updated restroom with kitchenette space, plus two enclosed rooms that can serve as offices, storage, or additional work areas. Development rights for approximately 800 additional square feet offer room for future expansion.
The property is positioned at the intersection of S. St. Francis Drive and Cerrillos Road in Santa Fe. On-site parking supports customer and employee access, while neighboring AutoZone and Chipotle contribute to an established commercial setting. The building was constructed in 1968.
The property is positioned at the intersection of S. St. Francis Drive and Cerrillos Road in Santa Fe. On-site parking supports customer and employee access, while neighboring AutoZone and Chipotle contribute to an established commercial setting. The building was constructed in 1968.
Key Highlights
- 1,376 SF retail unit at Crossroads Center
- Development rights for approx. 800 additional square feet
- Approx. 11‑foot ceiling heights in the main retail area
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
$17,450
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
4.53%
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%
$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
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
$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 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%
$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.
Property Analytics
Property Profile
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
Market
Vacancy Rate% for Retail 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?
Retail space - Bright commercial suite with private rooms, kitchenette space, and on-site parking.
Where is this retail space located?
The property is located at 1005 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 at Crossroads Center; Development rights for approx. 800 additional square feet; Approx. 11‑foot ceiling heights in the main retail area
