Contemporary Live-Work
For Sale
$330,000
1012 Marquez Place, Santa Fe, NM 87505
CommercialSale, Santa Fe, NM
Property Size678 SF
Price / SF$486.73
Days on Market36
Property Features for 1012 Marquez Place
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C-2
Interior features
NoInteriorSteps
Accessibility
Accessible Approach with Ramp
Elementary school
Wood Gormley
Middle school
Milagro
High school
Santa Fe
Directions
From St. Francis, head East on Cordova Road. Make a left on Cordova Place, Right on Marquez Place.
Standard status
Active
APN
910009316
Size
678 SF
Taxes and HOA fees
Tax Description
title to verify
HOA Fee
$217 Monthly
Legal Description
title to verify
Utilities
Sewer type
Public Sewer
Heating system
Hot Water(Heating), Radiant Floor, Natural Gas, Radiant
Water source
Public
Building Details
Year built
2004
Floors in Building
1
Flooring type
Concrete
Roof type
Flat
Architectural style
Contemporary
Listing Agency:
Corcoran Plaza Properties
(505) 982-4466
Listed By:
Ayden L. Gramm · License #53193
(310) 467-7017
Added: Jul 23
Changed: Aug 26
Last Checked: Aug 27 at 7:06PM
MLS# 202603237
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 678-square-foot live-work condominium is a contemporary ground-level unit at The Lofts at Marquez Place. The interior includes a kitchen area, full bath, washer and dryer, stained concrete flooring, high ceilings, and windows that bring natural light into the space. No interior steps support straightforward movement through the unit, and an accessible approach with ramp is provided.
Built in 2004, the property has C-2 zoning and can support office, residential, or live-work use as described. Radiant floor and hot water heating are served by natural gas. Public water and public sewer are in place, and the building has a flat roof.
Built in 2004, the property has C-2 zoning and can support office, residential, or live-work use as described. Radiant floor and hot water heating are served by natural gas. Public water and public sewer are in place, and the building has a flat roof.
Key Highlights
- 678‑square‑foot live‑work condominium
- C‑2 zoning supports the listed commercial classification
- Ground‑level layout with no interior steps
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
$9,336
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
2.83%
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%
$186,720
$186.7K
Cap Rate 7%
$133,371
$133.4K
Cap Rate 9%
$103,733
$103.7K
Market Conditions
NOI Build-Up for 678 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
$14.6K $21.60/SF
− Vacancy
−$2.2K −$3.24/SF
EGI
$12.4K $18.36/SF
− OpEx
−$3.1K −$4.59/SF
NOI
$9.3K $13.77/SF
Area
Santa Fe County, NM
Vacancy
15.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
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%
$186,720
Cap Rate 7%
$133,371
Cap Rate 9%
$103,733
Alternative Uses
Best Use
Office B
$133.4K
$116.7K – $155.6K
NOI $9,336 @ 7.0% cap · market cap 2.83%
Second Best
Mixed Use
$90.1K
$78.9K – $105.2K
NOI $6,309 @ 7.0% cap · market cap 1.91%
Theoretical Best
Office A
$184.1K
$161.1K – $214.8K
NOI $12,887 @ 7.0% cap · market cap 3.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,999
Businesses Nearby
Explore this area
Business Placement
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 Office 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?
Live-work space - Ground-level condominium with a kitchen area, full bath, laundry, concrete floors, and high ceilings.
Where is this live-work space located?
The property is located at 1012 Marquez Place Santa Fe, NM.
What is the asking price?
The asking price for this property is $330,000.
What are key features of this property?
This property features: 678‑square‑foot live‑work condominium; C‑2 zoning supports the listed commercial classification; Ground‑level layout with no interior steps
