Remodeled Office Space in Santa
1424 Luisa #1 & 2 Santa Fe, NM 87505
1424 Luisa #1 & 2, Santa Fe, NM, 87505
$495,000
For Sale
$495,000
Turnkey office space with modern interiors in a convenient location.
Property Size2,078 SF
Lot Size0.05 Acres
Price / SF$238.21
Days on Market136
Property Features for 1424 Luisa #1 & 2
General Information
- Standard status
- Active
- Size
- 2,078 SF
- Lot size
- 0.05 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 1980
Listing Agency
VARELA REAL ESTATE, INC.
(505) 982-2525
Listed by
PHILLIP VARELA · License #18075
Source
Corcoran
Added: Mar 4 Checked: Jul 17 at 3:48 am
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 VARELA REAL ESTATE, INC.
Investment Insights
Based on property information with market context.
This well-maintained and thoughtfully remodeled office space is located at 1424 Luisa Street, Units 1 & 2, in a convenient Santa Fe location. The property offers both functionality and professional appeal. The turnkey office environment features updated finishes, clean and modern interiors, and a flexible layout suitable for a variety of professional uses. The property delivers efficiency and comfort. The two combined units offer flexible configuration with the possibility of leasing out a third smaller unit. The interior is tastefully remodeled. It is great for personal use or investment. The professional setting is ideal for office or service-based businesses. The location is fantastic with convenient access to main streets and surrounding commercial areas. Ample on-site parking is available. Each space offers a welcoming reception area, private offices, a conference area, and a kitchenette with functional workspaces designed to support productivity while maintaining a professional atmosphere for clients and staff. Located in a well-established commercial corridor of Santa Fe, this property provides accessibility and visibility while maintaining a quiet, professional setting. The property size is 2078 square feet.
Key Highlights
- Turnkey, remodeled office space in a convenient Santa Fe location.
- Flexible layout suitable for various professional uses, with the possibility of leasing out a 3rd smaller unit.
- Well‑maintained interior ideal for personal use or investment.
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $44.9k | $21.60 |
| − Vacancy | −$6.7k | −$3.24 |
| EGI | $38.2k | $18.36 |
| − OpEx | −$9.5k | −$4.59 |
| NOI | $28.6k | $13.77 |
2,078 SF · lease $21.60/SF/yr · vacancy 15.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$408.8K
$357.7K – $476.9K
NOI $28,614 @ 7.0% cap · market cap 5.78%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$564.3K
$493.7K – $658.3K
NOI $39,499 @ 7.0% cap · market cap 7.98%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Office Units
Similar For Sale Nearby
FAQs
What type of property is this?
Office units - Turnkey office space with modern interiors in a convenient location.
Where is this office units located?
The property is located at 1424 Luisa #1 & 2 Santa Fe, NM.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: Turnkey, remodeled office space in a convenient Santa Fe location.; Flexible layout suitable for various professional uses, with the possibility of leasing out a 3rd smaller unit.; Well‑maintained interior ideal for personal use or investment.
