Corner Office
New
For Sale
$1,300,000
1322 Paseo de Peralta, Santa Fe, NM 87501
SINGLE_FAMILY - Santa Fe, NM
Property Size5,211 SF
Lot Size0.21 Acres
Price / SF$249.47
Days on Market2
Property Features for 1322 Paseo de Peralta
General Information
Property type
Residential
Property subtype
Office
Zoning
BCD
Parking
14
Directions
East on Paseo de Peralta from Cerrillos. on the left at corner of W. Manhattan and Paseo de Peralta.
Standard status
Active
APN
11017450
Size
5,211 SF
Lot size
0.21 Acres
Taxes and HOA fees
Tax Description
T17N R9E S25 TRACT A 0.214AC
Legal Description
T17N R9E S25 TRACT A 0.214AC
Utilities
Water source
Public
Building Details
Year built
1974
Listing Agency:
Shepler Commercial, LLC
(505) 982-7600
Listed By:
John Shepler · License #8936
(505) 660-5650
Added: Aug 14
Last Checked: Aug 15 at 9:06PM
MLS# 202603583
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 office property at 1322 Paseo de Peralta includes approximately 5,211 square feet arranged across a 2,666-square-foot ground floor and a lower-level basement measuring about 2,545 square feet. Constructed in 1974, the building is zoned BCD and receives water service from the public system.
The property occupies a 0.21-acre site at the intersection of W. Manhattan and Paseo de Peralta in Santa Fe. The Roundhouse is located approximately one block away, placing the building within the State Capitol area. Its two-level configuration provides a combination of primary office space and lower-level area within a single building.
The property occupies a 0.21-acre site at the intersection of W. Manhattan and Paseo de Peralta in Santa Fe. The Roundhouse is located approximately one block away, placing the building within the State Capitol area. Its two-level configuration provides a combination of primary office space and lower-level area within a single building.
Key Highlights
- Approximately 5,211 square feet of office space
- 2,666‑square‑foot ground floor plus about 2,545 square feet in the lower level/basement
- 0.21‑acre corner site at W. Manhattan and Paseo de Peralta
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
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Two-level office property with BCD zoning, basement space, and proximity to the 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‑foot ground floor plus about 2,545 square feet in the lower level/basement; 0.21‑acre corner site at W. Manhattan and Paseo de Peralta
