Ground-Level Live-Work
For Sale
$330,000
1012 Marquez Place 307A, Santa Fe, NM 87505
Flexible condominium space with a kitchen area, full bathroom, laundry appliances, and adaptable office or residential use.
Property Size678 SF
Price / SF$486.73
Days on Market16
Property Features for 1012 Marquez Place 307A
General Information
Standard status
Active
Size
678 SF
Space & Availability
Floor
Ground Level
Furnished
No
Additional Details
Public Transit
Yes
Listing Agency:
Corcoran Plaza Properties
(505) 982-4466
Listed By:
Ayden L. Gramm · License #53193
(310) 467-7017
Source:
Quailrunsothebys
Added: Sep 11
Changed: Sep 13
Last Checked: Sep 26 at 5:45AM
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 Corcoran Plaza Properties
Investment Insights
Based on property information with market context.
This 678-square-foot, ground-level condominium at The Lofts at Marquez Place combines flexible live-work functionality with a contemporary interior. The unit includes a kitchen area, full bathroom, washer and dryer, stained concrete floors, high ceilings, and windows that bring natural light into the space. Its layout can accommodate office use, a residence, or a pied-à-terre, subject to applicable requirements.
The property is at 1012 Marquez Place in Santa Fe, positioned near Whole Foods, Trader Joe’s, the Railyard, the Railrunner commuter station, shops, and restaurants. The unit is located in the front portion of the loft community and offers a practical setting for professionals, creatives, publishers, designers, and small businesses.
The property is at 1012 Marquez Place in Santa Fe, positioned near Whole Foods, Trader Joe’s, the Railyard, the Railrunner commuter station, shops, and restaurants. The unit is located in the front portion of the loft community and offers a practical setting for professionals, creatives, publishers, designers, and small businesses.
Key Highlights
- 678‑square‑foot ground‑level condominium
- Live‑work layout with office, residential, and pied‑à‑terre use potential
- Kitchen area and full bathroom
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
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Flexible condominium space with a kitchen area, full bathroom, laundry appliances, and adaptable office or residential use.
Where is this live-work space located?
The property is located at 1012 Marquez Place 307A 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 ground‑level condominium; Live‑work layout with office, residential, and pied‑à‑terre use potential; Kitchen area and full bathroom
