139 Old Lamy Trail, Lamy, NM 87540

Building Details

Year Built 2001 More

Buildings 1 More

Listing Agency: Santa Fe - Washington

Listed By: Catie Ish · License NM #54626 Show Phone

Source: Corcoran

Added: Nov 4 Changed: Nov 6 Last Checked: Nov 8 at 6:04AM

Report an Issue

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 Santa Fe - Washington

Ask AI about this property

Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

Investment Insights

Based on property information with market context.

Set on 1.03 acres, this 1,098-square-foot live-work property was built in 2001 as an artist studio. Interior features include vaulted ceilings, textured concrete flooring, 1.5 bathrooms, a wood-burning stove and a secluded loft. Two open-framed porches extend the usable space, while Traditional Community zoning allows residential and light commercial uses. Permitted uses include art studios, general stores, museums and libraries; additional light commercial activities may be considered with conditional approval.

The property is in Lamy, 18 miles from downtown Santa Fe. Views from nearly every room face the historic Mission Chapel of Our Lady of Light, and the site looks toward Lamy’s Depot and the Legal Tender Saloon. Amtrak passes through the village twice daily, with service toward Los Angeles and Chicago; Sky Railway also brings visitors to Lamy.

Key Highlights

• 1.03‑acre property with a 1,098‑square‑foot building
• Built in 2001 as an artist studio
• Traditional Community zoning permits residential use and several light commercial uses

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$15,119

Cap Rate

3.18%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$302,380 $302.4K

Cap Rate 7%

$215,986 $216.0K

Cap Rate 9%

$167,989 $168.0K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,098 SF

Gross rent

$23.7K $21.60/SF

− Vacancy

−$3.6K −$3.24/SF

EGI

$20.2K $18.36/SF

− OpEx

−$5.0K −$4.59/SF

NOI

$15.1K $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%

$302,380

Cap Rate 7%

$215,986

Cap Rate 9%

$167,989

Alternative Uses

Best Use

Office B

$216.0K

$189.0K – $252.0K (±1% cap)

NOI $15,119 @ 7.0% cap · market cap 3.18%

Second Best

Mixed Use

$146.0K

$127.7K – $170.3K (±1% cap)

NOI $10,217 @ 7.0% cap · market cap 2.15%

Theoretical Best

Office A

$298.2K

$260.9K – $347.9K (±1% cap)

NOI $20,871 @ 7.0% cap · market cap 4.39%

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

Live-work space

Suggested Use

Top Pick Tattoo & Piercing Shop Bar & Pub

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

20

Businesses Nearby

Explore this area Business Placement

Demographics for 87540, NM

1,052

Population

621

Households

1.7

Avg Household Size

62

Median Age

57%

College-Educated

98%

High-School Grad

163.6 sq mi

ZIP Area

6

Density / Sq Mi

$52,750

Median Household Income

$980

Median Rent

$685,900

Median Home Value

Market

Average Price Trend$/SF for Live-work space in Santa Fe County, NM

$359 Jul

$391 Aug

$440 Sep

$399 Oct

Properties on Market for Live-work space in Santa Fe County

Jul

Aug

Sep

Oct

Vacancy Rate% for Office in West region

11% 2019

14.1% 2020

15.5% 2021

17.2% 2022

19.9% 2023

21% 2024

20.8% 2025

Frequently Asked Questions

What type of property is this?

Live-work space - Traditional Community zoning allows residential use and several light commercial activities, including art studios and general stores.

Where is this live-work space located?

The property is located at 139 Old Lamy Trail Lamy, NM.

What is the asking price?

The asking price for this property is $475,000.

What are key features of this property?

This property features: 1.03‑acre property with a 1,098‑square‑foot building; Built in 2001 as an artist studio; Traditional Community zoning permits residential use and several light commercial uses