Mixed-Use Building with On-Site
For Sale
$4,650,000
132 Marcy Street E, Santa Fe, NM 87501
Two-story masonry construction and BCD zoning support office, retail, and residential uses.
Property Size11,455 SF
Lot Size0.49 Acres
Price / SF$405.94
Days on Market78
Property Features for 132 Marcy Street E
General Information
Standard status
Active
Size
11,455 SF
Net Rentable
11,455 SF
Total Parking Spaces
36
Lot size
0.49 Acres
Property subtype
Retail
Zoning
BCD
Site & Location
Corner Location
Yes
Mixed-Use Components
office, retail
Additional Details
Tenant in Place
Yes
Property Use
Office and Retail
Building Details
Building Size
11,455 SF
Year Built
1970
Buildings
1
Stories
2
Construction
masonry
Tenancy
Multi
Listing Agency:
Real Estate Advisors, LLC
Listed By:
Tai Bixby · License #40315
(505) 577-3524
Source:
Nmrootsrealestate
Added: Aug 14
Changed: Oct 30
Last Checked: Oct 30 at 2:08AM
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 Real Estate Advisors, LLC
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Investment Insights
Based on property information with market context.
This two-story masonry mixed-use property combines office and retail space with a finished basement. The building contains approximately 11,455 SF on a 0.49-acre corner parcel with frontage on three streets and 36 surface parking spaces. A ground-floor office suite of approximately 3,854 SF is leased to a national real estate brokerage. Other space includes 1,820 SF of retail, 1,342 SF of second-floor office, and 4,439 SF in the basement; these areas are vacant.
BCD (Business Capital District) zoning allows a mix of office, retail, and residential uses. The property is two blocks from the Santa Fe Plaza, amid civic, convention, gallery, hotel, restaurant, government, and professional office destinations. The sale is subject to bank approval; the property is in foreclosure and receivership.
BCD (Business Capital District) zoning allows a mix of office, retail, and residential uses. The property is two blocks from the Santa Fe Plaza, amid civic, convention, gallery, hotel, restaurant, government, and professional office destinations. The sale is subject to bank approval; the property is in foreclosure and receivership.
Key Highlights
- 11,455 SF building on a 0.49‑acre corner site
- 36 on‑site surface parking spaces and frontage on three streets
- Leased 3,854 SF ground‑floor office suite
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$157,735
Cap Rate
3.39%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,154,700
$3.2M
Cap Rate 7%
$2,253,357
$2.3M
Cap Rate 9%
$1,752,611
$1.8M
Market Conditions
NOI Build-Up for 11,455 SF
Gross rent
$247.4K $21.60/SF
− Vacancy
−$37.1K −$3.24/SF
EGI
$210.3K $18.36/SF
− OpEx
−$52.6K −$4.59/SF
NOI
$157.7K $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%
$3,154,700
Cap Rate 7%
$2,253,357
Cap Rate 9%
$1,752,611
Alternative Uses
Best Use
Office B
$2.25M
$1.97M – $2.63M
NOI $157,735 @ 7.0% cap · market cap 3.39%
Second Best
Retail
$2.08M
$1.82M – $2.42M
NOI $145,271 @ 7.0% cap · market cap 3.12%
Theoretical Best
Office A
$3.11M
$2.72M – $3.63M
NOI $217,737 @ 7.0% cap · market cap 4.68%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
4,050
Businesses Nearby
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Business Placement
Demographics for 87501, NM
15,116
Population
10,480
Households
1.4
Avg Household Size
58
Median Age
61%
College-Educated
97%
High-School Grad
50.6 sq mi
ZIP Area
299
Density / Sq Mi
$81,229
Median Household Income
$52,851
Median Earnings
$1,516
Median Rent
$649,100
Median Home Value
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Market
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Two-story masonry construction and BCD zoning support office, retail, and residential uses.
Where is this mixed-use property located?
The property is located at 132 Marcy Street E Santa Fe, NM.
What is the asking price?
The asking price for this property is $4,650,000.
What are key features of this property?
This property features: 11,455 SF building on a 0.49‑acre corner site; 36 on‑site surface parking spaces and frontage on three streets; Leased 3,854 SF ground‑floor office suite
