Dock-High Warehouse
New
For Sale
$1,485,000
1244 Calle de Comercio, Santa Fe, NM 87507
CommercialSale, Santa Fe, NM
Property Size7,818 SF
Lot Size0.35 Acres
Price / SF$189.95
Days on Market2
Property Features for 1244 Calle de Comercio
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
I-1
Directions
From Cerrillos Road, turn north onto Siler Road. Turn west onto Calle de Comercio. Property is on the right-hand side.
Standard status
Active
APN
947230240
Size
7,818 SF
Lot size
0.35 Acres
Utilities
Water source
Public
Building Details
Year built
1989
Flooring type
Concrete
Building materials
Frame, MetalSiding, Concrete
Roof type
Metal
Listing Agency:
Real Estate Advisors, LLC
(505) 539-3200
Listed By:
Tai Bixby · License #40315
(505) 577-3524
Added: Sep 2
Last Checked: Sep 3 at 4:06AM
MLS# 202603420
Copyright © 2026 Santa Fe Association of REALTORS®, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 7,818-square-foot warehouse offers a steel-frame structure, metal exterior, concrete slab flooring, dock-high loading, and a large windowless storage area. Two roll-up doors measure 10 feet by 12 feet, while interior clearances are approximately 21 feet at the front and 11 feet toward the rear. The building also includes an office, one bathroom, and a covered deck used for mezzanine storage. Recent work includes a paved parking and loading area, LED lighting, refreshed office finishes, new office mini-split air-conditioning units, updated primary electrical service, roof and gutter maintenance, and drainage work.
The property is located at 1244 Calle de Comercio in Santa Fe’s Calle de Comercio/Siler Road industrial park area. An 8-foot barbed-wire fence with two rolling gates encloses the site. I-1 zoning supports a broad range of industrial, warehouse, office, distribution, manufacturing, storage, automotive, restaurant, educational, and related uses. Utilities include gas, public water, sewer, and 120/240V single-phase electric. Heavy three-phase power is available at the rear pole. The property is leased for furniture storage through November 30, 2026.
The property is located at 1244 Calle de Comercio in Santa Fe’s Calle de Comercio/Siler Road industrial park area. An 8-foot barbed-wire fence with two rolling gates encloses the site. I-1 zoning supports a broad range of industrial, warehouse, office, distribution, manufacturing, storage, automotive, restaurant, educational, and related uses. Utilities include gas, public water, sewer, and 120/240V single-phase electric. Heavy three-phase power is available at the rear pole. The property is leased for furniture storage through November 30, 2026.
Key Highlights
- 7,818‑square‑foot warehouse on a 0.35‑acre lot
- Dock‑high loading area with two 10' X 12' roll‑up doors
- Approximately 21 FT+/- front ceiling height and 11 FT+/- rear ceiling height
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
1
Dock-high doors
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 - Industrial warehouse with office space, secured yard access, and recent building and site 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: 7,818‑square‑foot warehouse on a 0.35‑acre lot; Dock‑high loading area with two 10' X 12' roll‑up doors; Approximately 21 FT+/- front ceiling height and 11 FT+/- rear ceiling height
