Freestanding Medical Office
For Sale
$646,000
1313 S St. Francis Drive, Santa Fe, NM 87505
CommercialSale, Santa Fe, NM
Property Size2,153 SF
Lot Size0.13 Acres
Price / SF$300.05
Days on Market13
Property Features for 1313 S St. Francis Drive
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
C-1
Parking
8
Directions
St. Michaels Drive to St. Francis Drive. North on St. Francis to 1313 S. St. Francis Drive, property on the right.
Standard status
Active
APN
10385792
Size
2,153 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
LOT 5 PACHECO ADDN D/B/A ANIMAL WELLNESS CENTER
Tax Annual Amount
3974
Legal Description
LOT 5 PACHECO ADDN D/B/A ANIMAL WELLNESS CENTER
Utilities
Water source
Public
Building Details
Year built
1993
Listing Agency:
Shepler Commercial, LLC
(505) 982-7600
Listed By:
John Shepler · License #8936
(505) 660-5650
Added: Aug 10
Changed: Aug 19
Last Checked: Aug 22 at 6:06AM
MLS# 202603632
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 2,153-square-foot freestanding medical office building dates to 1993 and is positioned for professional healthcare or office use. The interior includes a waiting area, reception desk, four windowed private offices, three treatment rooms with built-in sinks, a utility room with washer/dryer hookups, and separate men's and women's restrooms. Interior walls can be adjusted to support a different configuration, and the building has updated flooring plus new interior and exterior paint.
Located at 1313 S. St. Francis Drive in Santa Fe, the property fronts a highly visible commercial corridor. C-1 zoning and a public water source are in place. The property occupies 0.13 acres and is identified by ZIP Code 87505.
Located at 1313 S. St. Francis Drive in Santa Fe, the property fronts a highly visible commercial corridor. C-1 zoning and a public water source are in place. The property occupies 0.13 acres and is identified by ZIP Code 87505.
Key Highlights
- 2,153‑square‑foot freestanding medical office building
- Four private offices, each with windows
- Three treatment rooms with built‑in sinks
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
$29,786
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
4.61%
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%
$595,720
$595.7K
Cap Rate 7%
$425,514
$425.5K
Cap Rate 9%
$330,956
$331.0K
Market Conditions
NOI Build-Up for 2,153 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
$54.3K $25.20/SF
− Vacancy
−$4.6K −$2.14/SF
EGI
$49.6K $23.06/SF
− OpEx
−$19.9K −$9.22/SF
NOI
$29.8K $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 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%
$595,720
Cap Rate 7%
$425,514
Cap Rate 9%
$330,956
Alternative Uses
Best Use
Healthcare Medical
$425.5K
$372.3K – $496.4K
NOI $29,786 @ 7.0% cap · market cap 4.61%
Second Best
Office B
$423.5K
$370.6K – $494.1K
NOI $29,647 @ 7.0% cap · market cap 4.59%
Theoretical Best
Office A
$584.6K
$511.6K – $682.1K
NOI $40,924 @ 7.0% cap · market cap 6.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,458
Businesses Nearby
Well-served
Demand for This Use
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
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Similar Off Market Nearby
- VCA Arrighetti Animal Hospital: Armendariz Esteban DVM — 1882 Plaza Del Sur Dr, Santa Fe, NM 87505
- Cedarwood Veterinary Clinic — 2001 St Michaels Dr, Santa Fe, NM 87505
- Equine Chiropractic — 1482 S St Francis Dr A, Santa Fe, NM 87505
- VCA Arrighetti Animal Hospital: Hoshen Shiri — 1882 Plaza Del Sur Dr, Santa Fe, NM 87505
- Veterinarian In Santa Fe — 1622 Galisteo St a, Santa Fe, NM 87505
Frequently Asked Questions
What type of property is this?
Medical Office Space - Refreshed professional space includes private offices, treatment rooms, and built-in sinks.
Where is this medical office space located?
The property is located at 1313 S St. Francis Drive Santa Fe, NM.
What is the asking price?
The asking price for this property is $646,000.
What are key features of this property?
This property features: 2,153‑square‑foot freestanding medical office building; Four private offices, each with windows; Three treatment rooms with built‑in sinks
