Santa Fe Professional Office
For Sale
$1,700,000
Pending
124 Siringo Rd, Santa Fe, NM 87505
Two-story office and research facility in central Santa Fe.
Property Size9,592 SF
Lot Size0.90 Acres
Days on Market221
Property Features for 124 Siringo Rd
General Information
Standard status
Pending
Size
9,592 SF
Total Parking Spaces
54
Lot size
0.90 Acres
Property subtype
Office
Zoning
C1
Amenities
Vacant
54 Parking Spaces
Building Details
Year Built
1996
Listing Agency:
REA Real Estate Advisors
Listed By:
Tai Bixby · License #40315
(505) 539-3205
Source:
Carnm.resimplifi
Added: Mar 6
Changed: Oct 9
Last Checked: Oct 12 at 4:42PM
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 REA Real Estate Advisors
Investment Insights
Based on property information with market context.
This professional office and research facility offers approximately 9,592 square feet of space on a 0.90-acre lot. Constructed in 1996, the two-story building features a versatile floor plan that includes private offices, conference rooms, reception areas, laboratories, and collaborative workspace. The property also provides elevator access and a rooftop patio. With 54 parking spaces available, there is ample parking for both employees and visitors. The property is located on Siringo Road, east of St. Francis Drive, in an established professional and medical office district near Christus St. Vincent Regional Medical Center. Its location provides connectivity to St. Michael’s Drive, Cerrillos Road, and Interstate 25. The C-1 Zoning allows for office, medical, dental, research, educational, and religious uses. This location is suitable for an owner-user, research facility, medical office, or professional services firm seeking a central Santa Fe location with accessibility and parking.
Key Highlights
- Excellent central Santa Fe location with strong accessibility and abundant parking (54 spaces).
- Versatile ±9,592 SF floor plan suitable for various uses: office, research, medical, etc.
- Offered for sale below $1,800,000 appraisal.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$132,703
Cap Rate
7.81%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,654,060
$2.7M
Cap Rate 7%
$1,895,757
$1.9M
Cap Rate 9%
$1,474,478
$1.5M
Market Conditions
NOI Build-Up for 9,592 SF
Gross rent
$241.7K $25.20/SF
− Vacancy
−$20.5K −$2.14/SF
EGI
$221.2K $23.06/SF
− OpEx
−$88.5K −$9.22/SF
NOI
$132.7K $13.83/SF
Area
Santa Fe County, NM
Vacancy
8.50%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,654,060
Cap Rate 7%
$1,895,757
Cap Rate 9%
$1,474,478
Alternative Uses
Best Use
Healthcare Medical
$1.90M
$1.66M – $2.21M
NOI $132,703 @ 7.0% cap · market cap 7.81%
Second Best
Office B
$1.89M
$1.65M – $2.20M
NOI $132,082 @ 7.0% cap · market cap 7.77%
Theoretical Best
Office A
$2.60M
$2.28M – $3.04M
NOI $182,325 @ 7.0% cap · market cap 10.73%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Location Intelligence
Trade Area within ½ mile
1,435
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
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Frequently Asked Questions
What type of property is this?
Office building - Two-story office and research facility in central Santa Fe.
Where is this office building located?
The property is located at 124 Siringo Rd Santa Fe, NM.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: Excellent central Santa Fe location with strong accessibility and abundant parking (54 spaces).; Versatile ±9,592 SF floor plan suitable for various uses: office, research, medical, etc.; Offered for sale below $1,800,000 appraisal.
