Office Building Near
For Sale
$1,300,000
1322 Paseo de Peralta, Santa Fe, NM 87501
Two-level office property with ground-floor and lower-level space near Santa Fe’s Roundhouse.
Property Size5,211 SF
Price / SF$249.47
Days on Market8
Property Features for 1322 Paseo de Peralta
General Information
Standard status
Active
Size
5,211 SF
Property subtype
Commercial
Additional Details
Asking Price
$1,300,000
Road Access
Yes
Building Details
Year Built
1974
Buildings
1
Stories
2
Listing Agency:
SHEPLER COMMERCIAL, LLC
(505) 982-7600
Listed By:
JOHN SHEPLER · License #8936
Source:
Corcoran
Added: Aug 15
Changed: Aug 21
Last Checked: Aug 21 at 7:10AM
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 SHEPLER COMMERCIAL, LLC
Investment Insights
Based on property information with market context.
This office building provides approximately 5,211 square feet across two levels, with 2,666 square feet on the ground floor and approximately 2,545 square feet in the lower level or basement. Constructed in 1974, the property offers a configuration suitable for an office user seeking separate areas across the building.
The property is located at 1322 Paseo de Peralta in Santa Fe, at the corner of W. Manhattan and Paseo de Peralta. The Roundhouse is approximately one block away, placing the building near the State Capitol area. Its corner position and proximity to these civic offices define the property’s surrounding context.
The property is located at 1322 Paseo de Peralta in Santa Fe, at the corner of W. Manhattan and Paseo de Peralta. The Roundhouse is approximately one block away, placing the building near the State Capitol area. Its corner position and proximity to these civic offices define the property’s surrounding context.
Key Highlights
- Approximately 5,211 square feet of office space
- 2,666 square feet on the ground floor
- Approximately 2,545 square feet in the lower level/basement
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
$71,755
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
5.52%
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%
$1,435,100
$1.4M
Cap Rate 7%
$1,025,071
$1.0M
Cap Rate 9%
$797,278
$797.3K
Market Conditions
NOI Build-Up for 5,211 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
$112.6K $21.60/SF
− Vacancy
−$16.9K −$3.24/SF
EGI
$95.7K $18.36/SF
− OpEx
−$23.9K −$4.59/SF
NOI
$71.8K $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 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%
$1,435,100
Cap Rate 7%
$1,025,071
Cap Rate 9%
$797,278
Alternative Uses
Best Use
Office B
$1.03M
$896.9K – $1.20M
NOI $71,755 @ 7.0% cap · market cap 5.52%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.42M
$1.24M – $1.65M
NOI $99,051 @ 7.0% cap · market cap 7.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
4,561
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Two-level office property with ground-floor and lower-level space near Santa Fe’s Roundhouse.
Where is this office building located?
The property is located at 1322 Paseo de Peralta Santa Fe, NM.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Approximately 5,211 square feet of office space; 2,666 square feet on the ground floor; Approximately 2,545 square feet in the lower level/basement
