Office-Warehouse Flex
1216 Mercantile, Santa Fe, NM 87507
For Sale
New
Contact for pricing
Combines finished administrative offices with an open warehouse area for a flexible work environment.
Property Size6,900 SF
Price / SF$1.28
Days on Market2
Property Features for 1216 Mercantile
General Information
Standard status
Size
Additional Details
Property Use
Listing Agency:
Landseer Management
(505) 313-0099
Listed By:
Brant Goodman · License NM #16424
(505) 690-7311
Source:
Quailrunsothebys
Added: Nov 12
Last Checked: Nov 12 at 2:22PM
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 Landseer Management
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Investment Insights
Based on property information with market context.
Suite B provides approximately 6,900 usable square feet, including a share of the common areas, in a configuration that pairs finished office space with warehouse functions. The open floor plan has concrete flooring, overhead lighting, and high warehouse ceilings. Restroom access is shared, and parking is available on site.
Located at 1216 Mercantile Road in Santa Fe, the suite offers a mix of workspace and storage areas within one commercial property. Its features support office and warehouse operations, with uses subject to applicable permissions.
Located at 1216 Mercantile Road in Santa Fe, the suite offers a mix of workspace and storage areas within one commercial property. Its features support office and warehouse operations, with uses subject to applicable permissions.
Key Highlights
- Approximately 6,900 usable SF, including a share of common areas
- Suite B combines finished office areas with warehouse space
- Open floor plan with concrete flooring and overhead lighting
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,312
Suggested Prices Based on Cap Rates
Cap Rate 5%
$686,240
$686.2K
Cap Rate 7%
$490,171
$490.2K
Cap Rate 9%
$381,244
$381.2K
Market Conditions
NOI Build-Up for 6,900 SF
Gross rent
$53.0K $7.68/SF
− Vacancy
−$4.0K −$0.58/SF
EGI
$49.0K $7.10/SF
− OpEx
−$14.7K −$2.13/SF
NOI
$34.3K $4.97/SF
Area
Santa Fe County, NM
Vacancy
7.50%
Lease Rate
$7.68 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$686,240
Cap Rate 7%
$490,171
Cap Rate 9%
$381,244
Alternative Uses
Best Use
Flex RnD
$1.04M
$908.2K – $1.21M
NOI $72,657 @ 7.0% cap
Second Best
Warehouse
$595.2K
$520.8K – $694.4K
NOI $41,665 @ 7.0% cap
Theoretical Best
Office A
$1.87M
$1.64M – $2.19M
NOI $131,155 @ 7.0% cap
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
876
Businesses Nearby
Balanced
Demand for This Use
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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
$333,300
Median Home Value
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Market
Average Price Trend$/SF for Flex space in Santa Fe, NM
Properties on Market for Flex space in Santa Fe
Vacancy Rate% for Industrial in West region
Similar Off Market Nearby
- Casa Nova Custom Catering — 1314 Rufina Cir a7, Santa Fe, NM 87507
- Marigold Kitchen — 1314 Rufina Cir A 3, Santa Fe, NM 87507
Frequently Asked Questions
What type of property is this?
Flex space - Combines finished administrative offices with an open warehouse area for a flexible work environment.
Where is this flex space located?
The property is located at 1216 Mercantile Santa Fe, NM.
What are key features of this property?
This property features: Approximately 6,900 usable SF, including a share of common areas; Suite B combines finished office areas with warehouse space; Open floor plan with concrete flooring and overhead lighting
