Cerrillos Road Commercial
For Sale
$1,100,000
1932 Cerrillos Road, Santa Fe, NM 87505
High-visibility commercial property on Cerrillos Road, Santa Fe.
Property Size4,631 SF
Lot Size0.39 Acres
Price / SF$237.53
Days on Market610
Property Features for 1932 Cerrillos Road
General Information
Standard status
Active
Size
4,631 SF
Lot size
0.39 Acres
Property subtype
Commercial/Industrial
Listing Agency:
Barker Realty, LLC
(505) 699-7472
Listed By:
James Delgado · License #39148
(505) 699-7472
Source:
Exitrealty
Added: Nov 27, 2024
Changed: Jul 10
Last Checked: Jul 30 at 6:19AM
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.
Located on a busy section of Cerrillos Road with a traffic volume of 30,000 vehicles per day, this commercial property offers excellent visibility. The surrounding area includes businesses such as Toyota, Beck and Bulow, Jiffy Lube, Budget Car Rental, Mampuku Ramen, Jambo, Chase Bank, Dion’s Pizza, and Chick-Fil-A. Currently, the property is owner-occupied by La Unica Drycleaner, with additional rental income from an office tenant and an automotive maintenance tenant. The offering includes the real estate only; the La Unica business and trade name are available for separate purchase. Zoned C-2, the property allows for various uses, including office, retail, automotive, medical, dental, restaurant, and public assembly. The City and State have planned new sidewalks, a median, and street trees for this section of Cerrillos Road. Utilities include two water meters and separate meters for gas and electricity. A Phase 1 Environmental Site Assessment is complete, and a Phase 2 Environmental Site Assessment is forthcoming. The property size is 4631 square feet.
Key Highlights
- High‑traffic location on Cerrillos Road (30,000 VPD) with excellent visibility.
- C‑2 zoning allows for a wide range of uses including office, retail, automotive, medical, dental, restaurant, and public assembly.
- Existing rental income from office and automotive maintenance tenants.
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $91.7k | $19.80 |
| − Vacancy | −$7.8k | −$1.68 |
| EGI | $83.9k | $18.12 |
| − OpEx | −$25.2k | −$5.44 |
| NOI | $58.7k | $12.68 |
4,631 SF · lease $19.80/SF/yr · vacancy 8.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$839.0K
$734.1K – $978.8K
NOI $58,730 @ 7.0% cap · market cap 5.34%
Second Best
Industrial
$329.0K
$287.9K – $383.8K
NOI $23,029 @ 7.0% cap · market cap 2.09%
Theoretical Best
Office A
$1.26M
$1.10M – $1.47M
NOI $88,026 @ 7.0% cap · market cap 8.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,395
Businesses Nearby
343k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 40%
Groceries 19%
Shops & Services 15%
Apparel 9%
Chick-fil-A
Dining
59,966 visits/mo
0.4 miles
Smith's
Groceries
35,385 visits/mo
0.3 miles
Food King
Groceries
29,719 visits/mo
0.5 miles
Burlington
Apparel
26,112 visits/mo
0.3 miles
Dion's Pizza
Dining
20,117 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?
Storefront property - High-visibility commercial property on Cerrillos Road, Santa Fe.
Where is this storefront property located?
The property is located at 1932 Cerrillos Road Santa Fe, NM.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: High‑traffic location on Cerrillos Road (30,000 VPD) with excellent visibility.; C‑2 zoning allows for a wide range of uses including office, retail, automotive, medical, dental, restaurant, and public assembly.; Existing rental income from office and automotive maintenance tenants.
