I-1 Industrial
For Sale
$1,485,000
1244 Calle de Comercio, Santa Fe, NM 87507
Steel-frame facility offers dock loading, roll-up access, office space, and secured parking improvements.
Property Size7,818 SF
Price / SF$189.95
Days on Market172
Property Features for 1244 Calle de Comercio
General Information
Standard status
Active
Size
7,818 SF
Total Parking Spaces
12
Property subtype
Industrial
Zoning
I1
Site & Location
Fenced Yard
Yes
Utilities to Site
Yes
Warehouse & Industrial
Clear Height
21 ft
Dock-High Doors
1
Power
200 amps
Voltage
240 V
Three-Phase Power
Yes
Heavy Power
Yes
Amenities
Power
Water
Sewer
Natural Gas
Vacant
12 Parking Spaces
Building Details
Year Built
1989
Buildings
1
Construction
steel frame
Listing Agency:
REA Real Estate Advisors
(505) 539-3205
Listed By:
Tai Bixby · License #40315
(505) 539-3205
Source:
Carnm.resimplifi
Added: Mar 12
Changed: Aug 29
Last Checked: Aug 29 at 5:19PM
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 steel-framed warehouse has a metal roof and exterior siding, drywall interior, and a concrete slab floor. The building includes a large windowless warehouse, one office with a bathroom, and a covered deck used for mezzanine storage. A dock-high loading area and two roll-up doors support warehouse operations. Ceiling height measures approximately 21 FT± at the front and 11 FT± at the rear.
October 2025 improvements include a newly paved parking and loading area, LED lighting, office mini-split air-conditioning, office paint and flooring, upgraded primary electrical service with a 200-amp panel, front wainscot, drainage maintenance, and roof and gutter maintenance. The property is enclosed by an 8 ft barbed-wire fence with two rolling gates. Utilities include gas, water, sewer, and 120/240V single-phase electric; heavy three-phase power is available on the rear pole. Located in the Calle de Comercio/Siler Road industrial park area, the property carries I-1 zoning.
October 2025 improvements include a newly paved parking and loading area, LED lighting, office mini-split air-conditioning, office paint and flooring, upgraded primary electrical service with a 200-amp panel, front wainscot, drainage maintenance, and roof and gutter maintenance. The property is enclosed by an 8 ft barbed-wire fence with two rolling gates. Utilities include gas, water, sewer, and 120/240V single-phase electric; heavy three-phase power is available on the rear pole. Located in the Calle de Comercio/Siler Road industrial park area, the property carries I-1 zoning.
Key Highlights
- October 2025 upgrades include paved parking and loading areas, LED lighting, office finishes, electrical service, drainage, and roof and gutter maintenance
- Dock‑high loading area with 2 roll‑up doors measuring 10’ X 12’
- Warehouse ceiling height is 21 FT± at the front and 11 FT± at the back
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
$47,208
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
3.18%
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%
$944,160
$944.2K
Cap Rate 7%
$674,400
$674.4K
Cap Rate 9%
$524,533
$524.5K
Market Conditions
NOI Build-Up for 7,818 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
$60.0K $7.68/SF
− Vacancy
−$4.5K −$0.58/SF
EGI
$55.5K $7.10/SF
− OpEx
−$8.3K −$1.07/SF
NOI
$47.2K $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%
$944,160
Cap Rate 7%
$674,400
Cap Rate 9%
$524,533
Alternative Uses
Best Use
Warehouse
$674.4K
$590.1K – $786.8K
NOI $47,208 @ 7.0% cap · market cap 3.18%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.12M
$1.86M – $2.48M
NOI $148,605 @ 7.0% cap · market cap 10.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
21 ft
Clear height
1
Dock-high doors
Yes
Heavy power
Yes
Fenced yard
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,226
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.
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Frequently Asked Questions
What type of property is this?
Warehouse - Steel-frame facility offers dock loading, roll-up access, office space, and secured parking improvements.
Where is this warehouse located?
The property is located at 1244 Calle de Comercio Santa Fe, NM.
What is the asking price?
The asking price for this property is $1,485,000.
What are key features of this property?
This property features: October 2025 upgrades include paved parking and loading areas, LED lighting, office finishes, electrical service, drainage, and roof and gutter maintenance; Dock‑high loading area with 2 roll‑up doors measuring 10’ X 12’; Warehouse ceiling height is 21 FT± at the front and 11 FT± at the back
