Flex Space with Office and
For Sale
$1,068,000
1254 Calle de Comercio, Santa Fe, NM 87507
CommercialSale, Santa Fe, NM
Property Size7,531 SF
Lot Size0.52 Acres
Price / SF$152.99
Days on Market17
Property Features for 1254 Calle de Comercio
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
I-1
Zoning description
Light industrial
Parking
12
Directions
From Cerrillos Road, head north into the Siler/Rufina industrial area to reach Calle de Comercio. Property is less than a quarter mile north of Cerrillos Road, in Rufina Industrial Park.
Standard status
Active
APN
18207076
Size
6,981 SF
Lot size
0.52 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
7050
Utilities
Water source
Public
Building Details
Year built
1983
Listing Agency:
Real Estate Advisors, LLC
(505) 539-3200
Listed By:
Tai Bixby · License #40315
(505) 577-3524
Added: Sep 21
Changed: Oct 7
Last Checked: Oct 7 at 3:06AM
MLS# 202604105
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 6,611-square-foot flex property combines 3,020 square feet of finished office space with 3,591 square feet of warehouse area, plus a 920-square-foot mezzanine. Drive-in overhead doors serve the warehouse. Built in 1983, the building uses frame and pre-engineered steel construction, with stucco and metal exterior walls on a concrete slab. Mini-split heating and cooling systems are under ten years old. The office and warehouse have built-up tar-and-gravel and pitched metal roofs, respectively.
The 0.52-acre site has 116 feet of frontage on Calle de Comercio, with approximately 70% of the land available as open area for paved parking and a fenced yard. The property is in the Siler industrial area, less than a quarter mile north of Cerrillos Road. I-1 zoning allows storage, trades, light manufacturing, automotive uses, fabrication, stockpiling and fleet parking. Public water, sewer, electric and gas serve the site. The property is scheduled to deliver vacant on October 1, 2026.
The 0.52-acre site has 116 feet of frontage on Calle de Comercio, with approximately 70% of the land available as open area for paved parking and a fenced yard. The property is in the Siler industrial area, less than a quarter mile north of Cerrillos Road. I-1 zoning allows storage, trades, light manufacturing, automotive uses, fabrication, stockpiling and fleet parking. Public water, sewer, electric and gas serve the site. The property is scheduled to deliver vacant on October 1, 2026.
Key Highlights
- 6,611 square feet on the ground floor plus a 920‑square‑foot mezzanine
- 3,020 square feet of finished office and 3,591 square feet of warehouse space
- 0.52‑acre site with 116 feet of frontage and a fenced yard
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$96,128
Cap Rate
9.00%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,922,560
$1.9M
Cap Rate 7%
$1,373,257
$1.4M
Cap Rate 9%
$1,068,089
$1.1M
Market Conditions
NOI Build-Up for 6,981 SF
Gross rent
$150.8K $21.60/SF
− Vacancy
−$22.6K −$3.24/SF
EGI
$128.2K $18.36/SF
− OpEx
−$32.0K −$4.59/SF
NOI
$96.1K $13.77/SF
Area
Santa Fe County, NM
Vacancy
15.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,922,560
Cap Rate 7%
$1,373,257
Cap Rate 9%
$1,068,089
Alternative Uses
Best Use
Office B
$1.37M
$1.20M – $1.60M
NOI $96,128 @ 7.0% cap · market cap 9.00%
Second Best
Flex RnD
$1.05M
$918.9K – $1.23M
NOI $73,510 @ 7.0% cap · market cap 6.88%
Theoretical Best
Office A
$1.90M
$1.66M – $2.21M
NOI $132,695 @ 7.0% cap · market cap 12.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
Yes
Fenced yard
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,226
Businesses Nearby
Balanced
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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
- Palate — 2603 Cerrillos Rd, Santa Fe, NM 87505
- Peas 'N' Pod Catering — 1314 Apache Ave, Santa Fe, NM 87505
Frequently Asked Questions
What type of property is this?
Flex space - A fenced yard and separate office and shop areas support a range of light industrial operations.
Where is this flex space located?
The property is located at 1254 Calle de Comercio Santa Fe, NM.
What is the asking price?
The asking price for this property is $1,068,000.
What are key features of this property?
This property features: 6,611 square feet on the ground floor plus a 920‑square‑foot mezzanine; 3,020 square feet of finished office and 3,591 square feet of warehouse space; 0.52‑acre site with 116 feet of frontage and a fenced yard
