Two-Story Retail
For Sale
$995,000
1343 Rufina Circle, Santa Fe, NM 87507
CommercialSale, Santa Fe, NM
Property Size3,829 SF
Lot Size0.14 Acres
Price / SF$259.86
Days on Market16
Property Features for 1343 Rufina Circle
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning
C-2
Zoning description
C-2 - General Commercial, City of Santa Fe.
Parking
5
Directions
Located directly across Rufina Circle from Meow Wolf in Santa Fe, NM.
Standard status
Active
APN
18400867
Size
3,829 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Tract as shown and delineated on plat of survey entitled "Boundary Survey Plat Prepared for Dean G. Alexis and Cynthia J. Alexis...Lot 2-A Lying and being situate at 1343 Rufina Circle, Lot 2A, of the Kiva Center, Phase 2, Section 33, Township 17 North, Range 9 East, NMPM, City of Santa Fe, State of New Mexico" recorded February 28, 2022 as Instrument No. 1981714 in Plat Book 888 at page 31, records of Santa Fe County, New Mexico.
Tax Annual Amount
3988
Legal Description
Tract as shown and delineated on plat of survey entitled "Boundary Survey Plat Prepared for Dean G. Alexis and Cynthia J. Alexis...Lot 2-A Lying and being situate at 1343 Rufina Circle, Lot 2A, of the Kiva Center, Phase 2, Section 33, Township 17 North, Range 9 East, NMPM, City of Santa Fe, State of New Mexico" recorded February 28, 2022 as Instrument No. 1981714 in Plat Book 888 at page 31, records of Santa Fe County, New Mexico.
Utilities
Water source
Public
Building Details
Year built
1988
Buildings
1
Listing Agency:
Real Estate Advisors, LLC
(505) 539-3200
Listed By:
Tai Bixby · License #40315
(505) 577-3524
Added: Oct 21
Changed: Oct 30
Last Checked: Nov 5 at 1:06PM
MLS# 202604518
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.
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This two-story retail property contains 3,829 square feet on approximately 0.14 acre and was remodeled in 2023. Ductless mini-split heating and cooling serve both floors, and the building has a sloped metal roof with city water and sewer service. The property is vacant and zoned C-2 General Commercial. Potential uses noted include retail, gallery, office, studio, or conversion to a residential duplex; second-floor live/work use and any conversion would require City of Santa Fe zoning and building code review.
The property is in Santa Fe’s Siler and Rufina creative district, directly across the street from Meow Wolf.
The property is in Santa Fe’s Siler and Rufina creative district, directly across the street from Meow Wolf.
Key Highlights
- 3,829‑square‑foot, two‑story building on approximately 0.14 acre
- Remodeled in 2023; vacant at delivery
- C‑2 General Commercial zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$48,559
Cap Rate
4.88%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$971,180
$971.2K
Cap Rate 7%
$693,700
$693.7K
Cap Rate 9%
$539,544
$539.5K
Market Conditions
NOI Build-Up for 3,829 SF
Gross rent
$75.8K $19.80/SF
− Vacancy
−$6.4K −$1.68/SF
EGI
$69.4K $18.12/SF
− OpEx
−$20.8K −$5.44/SF
NOI
$48.6K $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 Rate 5%
$971,180
Cap Rate 7%
$693,700
Cap Rate 9%
$539,544
Alternative Uses
Best Use
Retail
$693.7K
$607.0K – $809.3K
NOI $48,559 @ 7.0% cap · market cap 4.88%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.04M
$909.8K – $1.21M
NOI $72,782 @ 7.0% cap · market cap 7.31%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,064
Businesses Nearby
406k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 35%
Superstores 30%
Shops & Services 16%
Home Improvements & Furnishings 13%
Walmart
Superstores
99,083 visits/mo
0.3 miles
The Home Depot
Home Improvements & Furnishings
44,288 visits/mo
0.4 miles
McDonald's
Dining
32,626 visits/mo
0.4 miles
Big Lots
Superstores
21,756 visits/mo
0.1 miles
Murphy USA
Shops & Services
19,246 visits/mo
0.1 miles
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in West region
Frequently Asked Questions
What type of property is this?
Retail space - Vacant C-2 space offers flexibility for retail, office, gallery, or studio use.
Where is this retail space located?
The property is located at 1343 Rufina Circle Santa Fe, NM.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: 3,829‑square‑foot, two‑story building on approximately 0.14 acre; Remodeled in 2023; vacant at delivery; C‑2 General Commercial zoning
