Two-Story Creative
New
For Sale
$995,000
1343 Rufina Circle, Santa Fe, NM 87507
Vacant delivery and C-2 zoning support commercial use, with potential residential conversion subject to municipal review.
Property Size3,829 SF
Price / SF$259.86
Days on Market5
Property Features for 1343 Rufina Circle
General Information
Standard status
Active
Size
3,829 SF
Property subtype
Commercial
Building Details
Year Built
1988
Listing Agency:
Real Estate Advisors, LLC
Listed By:
Tai Bixby · License #5026
(505) 539-3205
Source:
Lisaharris-realestate
Added: Nov 1
Last Checked: Nov 4 at 10:16AM
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.
At 1343 Rufina Circle, this two-level commercial property contains approximately 3,829 square feet on a ±0.14-acre parcel. A renovation completed in 2023 updated the building, originally constructed in 1988. Ductless mini-split systems provide heating and cooling on both floors, and the property has a sloped metal roof with city water and sewer service. It will be delivered vacant. The C-2 General Commercial designation supports commercial applications; gallery, retail, office, and studio uses are identified as possibilities. Residential duplex conversion and second-floor live/work use would require review under applicable City of Santa Fe zoning and building codes.
The property is in Santa Fe’s Siler and Rufina creative district, across the street from Meow Wolf. A neighboring restaurant property is also offered for sale; inquiries may be directed to the broker.
The property is in Santa Fe’s Siler and Rufina creative district, across the street from Meow Wolf. A neighboring restaurant property is also offered for sale; inquiries may be directed to the broker.
Key Highlights
- Approximately 3,829 square feet on a ±0.14‑acre parcel
- Renovated in 2023; originally built in 1988
- Two floors, each equipped with ductless mini‑split heating and cooling
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$52,725
Cap Rate
5.30%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,054,500
$1.1M
Cap Rate 7%
$753,214
$753.2K
Cap Rate 9%
$585,833
$585.8K
Market Conditions
NOI Build-Up for 3,829 SF
Gross rent
$82.7K $21.60/SF
− Vacancy
−$12.4K −$3.24/SF
EGI
$70.3K $18.36/SF
− OpEx
−$17.6K −$4.59/SF
NOI
$52.7K $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%
$1,054,500
Cap Rate 7%
$753,214
Cap Rate 9%
$585,833
Alternative Uses
Best Use
Office B
$753.2K
$659.1K – $878.8K
NOI $52,725 @ 7.0% cap · market cap 5.30%
Second Best
Retail
$693.7K
$607.0K – $809.3K
NOI $48,559 @ 7.0% cap · market cap 4.88%
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.
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Current Use
Location Intelligence
Trade Area within ½ mile
1,064
Businesses Nearby
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Business Placement
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
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Market
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Creative space - Vacant delivery and C-2 zoning support commercial use, with potential residential conversion subject to municipal review.
Where is this creative 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: Approximately 3,829 square feet on a ±0.14‑acre parcel; Renovated in 2023; originally built in 1988; Two floors, each equipped with ductless mini‑split heating and cooling
