Versatile Corner Unit with
For Sale
$728,000
1300 Rufina #A-1, Santa Fe, NM 87507
Flexible commercial space suitable for showroom, gallery, studio, or cafe.
Property Size2,242 SF
Price / SF$324.71
Days on Market160
Property Features for 1300 Rufina #A-1
General Information
Standard status
Active
Size
2,242 SF
Property subtype
Commercial
Amenities
Metal Roof
Concrete Flooring
Parking Available
Parking Lot
Paved
Pitched Roof
Building Details
Year Built
2017
Listing Agency:
KELLER WILLIAMS REALTY
(505) 983-5151
Listed By:
JOAN M. DIGIOVANNA · License #49852
Source:
Corcoran
Added: Mar 5
Changed: Aug 11
Last Checked: Aug 11 at 7:44AM
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 KELLER WILLIAMS REALTY
Investment Insights
Based on property information with market context.
This architecturally striking corner unit offers flexible potential for various uses, including a showroom, gallery, fitness studio, café, or wine bar, subject to zoning regulations. The property is zoned I-2. The interior features soaring ceilings with exposed steel, expansive storefront windows, a glass roll-up door, and hard-troweled concrete floors. The space is filled with natural light and offers full street visibility. It includes two large bathrooms and a reliable heating and cooling system. The property is suitable for artists or makers needing space for large-scale installations. The commercial space is located on a prominent corner near Second Street Brewery and Meow Wolf. The property has a size of 2242 square feet. Subletting a portion of the space is a possibility to generate income.
Key Highlights
- High visibility corner unit ideal for attracting customers.
- Flexible I‑2 zoning allows for various business types (showroom, gallery, studio, café, etc.).
- Architecturally striking with soaring ceilings, exposed steel, and expansive storefront windows.
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
$28,433
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
3.91%
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%
$568,660
$568.7K
Cap Rate 7%
$406,186
$406.2K
Cap Rate 9%
$315,922
$315.9K
Market Conditions
NOI Build-Up for 2,242 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
$44.4K $19.80/SF
− Vacancy
−$3.8K −$1.68/SF
EGI
$40.6K $18.12/SF
− OpEx
−$12.2K −$5.44/SF
NOI
$28.4K $12.68/SF
Area
Santa Fe County, NM
Vacancy
8.50%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
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%
$568,660
Cap Rate 7%
$406,186
Cap Rate 9%
$315,922
Alternative Uses
Best Use
Retail
$406.2K
$355.4K – $473.9K
NOI $28,433 @ 7.0% cap · market cap 3.91%
Second Best
Flex RnD
$337.3K
$295.1K – $393.5K
NOI $23,608 @ 7.0% cap · market cap 3.24%
Theoretical Best
Office A
$608.8K
$532.7K – $710.3K
NOI $42,616 @ 7.0% cap · market cap 5.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,136
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
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Flexible commercial space suitable for showroom, gallery, studio, or cafe.
Where is this flex space located?
The property is located at 1300 Rufina #A-1 Santa Fe, NM.
What is the asking price?
The asking price for this property is $728,000.
What are key features of this property?
This property features: High visibility corner unit ideal for attracting customers.; Flexible I‑2 zoning allows for various business types (showroom, gallery, studio, café, etc.).; Architecturally striking with soaring ceilings, exposed steel, and expansive storefront windows.
