Warehouse
For Sale
$400,000
11 Plaza La Prensa, Santa Fe, NM 87507
Commercial warehouse ownership within a Business and Industrial Park District.
Property Size1,988 SF
Price / SF$201.21
Days on Market86
Property Features for 11 Plaza La Prensa
General Information
Standard status
Active
Size
1,988 SF
Property subtype
Industrial
Zoning
BIP
Building Details
Year Built
2008
Listing Agency:
Barker Realty, LLC
Listed By:
Cozette Hansen · License #49928
(505) 982-9836
Source:
Carnm.resimplifi
Added: Jun 10
Changed: Aug 30
Last Checked: Sep 2 at 1:30PM
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 warehouse condominium comprises 1,988 square feet and was constructed in 2008. The property is classified within a Business and Industrial Park District, providing a defined commercial setting for warehouse use.
The property is located at 11 Plaza La Prensa in Santa Fe, New Mexico 87507.
The property is located at 11 Plaza La Prensa in Santa Fe, New Mexico 87507.
Key Highlights
- 1,988‑square‑foot warehouse condominium
- Built in 2008
- Located within a Business and Industrial Park District
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
$12,004
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
3.00%
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%
$240,080
$240.1K
Cap Rate 7%
$171,486
$171.5K
Cap Rate 9%
$133,378
$133.4K
Market Conditions
NOI Build-Up for 1,988 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
$15.3K $7.68/SF
− Vacancy
−$1.1K −$0.58/SF
EGI
$14.1K $7.10/SF
− OpEx
−$2.1K −$1.07/SF
NOI
$12.0K $6.04/SF
Area
Santa Fe County, NM
Vacancy
7.50%
Lease Rate
$7.68 /SF/Yr
Expense Ratio
15.00%
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%
$240,080
Cap Rate 7%
$171,486
Cap Rate 9%
$133,378
Alternative Uses
Best Use
Warehouse
$171.5K
$150.1K – $200.1K
NOI $12,004 @ 7.0% cap · market cap 3.00%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$539.8K
$472.4K – $629.8K
NOI $37,788 @ 7.0% cap · market cap 9.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
183
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 87507, NM
51,338
Population
21,272
Households
2.4
Avg Household Size
38
Median Age
31%
College-Educated
86%
High-School Grad
96.1 sq mi
ZIP Area
534
Density / Sq Mi
$62,955
Median Household Income
$34,102
Median Earnings
$1,276
Median Rent
$333,300
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- High Country STORAGE — 27736 W Frontage Rd, Santa Fe, NM 87507
Frequently Asked Questions
What type of property is this?
Warehouse - Commercial warehouse ownership within a Business and Industrial Park District.
Where is this warehouse located?
The property is located at 11 Plaza La Prensa Santa Fe, NM.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: 1,988‑square‑foot warehouse condominium; Built in 2008; Located within a Business and Industrial Park District
