Remodeled Office Space in Santa
1424 Luisa St, Santa Fe, NM 87505
For Sale
$495,000
Turnkey office space with modern interiors and flexible layout.
Property Size2,078 SF
Price / SF$238.21
Days on Market258
Property Features for 1424 Luisa St
General Information
Standard status
Size
Property subtype
Zoning
Listing Agency:
Varela Real Estate Inc
Listed By:
Phillip Varela · License NM #18075
(505) 982-2525
Source:
Carnm.resimplifi
Added: Mar 2
Changed: Nov 12
Last Checked: Nov 12 at 4:10AM
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
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Investment Insights
Based on property information with market context.
Located at 1424 Luisa Street, Units 1 & 2, in a well-established commercial corridor of Santa Fe, this nicely maintained and thoughtfully remodeled office space offers functionality and professional appeal. The property features updated finishes, clean and modern interiors, and a flexible layout suitable for a variety of professional uses. It is designed to deliver efficiency and comfort. The two combined units offer a flexible configuration with the possibility of leasing out a third smaller unit. The tastefully remodeled interior is well-maintained and great for personal use or investment. The professional setting is ideal for office or service-based businesses, 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. The property provides accessibility and visibility while maintaining a quiet, professional setting. The property has a total size of 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 property ideal for personal use or investment.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,614
Cap Rate
5.78%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$572,280
$572.3K
Cap Rate 7%
$408,771
$408.8K
Cap Rate 9%
$317,933
$317.9K
Market Conditions
NOI Build-Up for 2,078 SF
Gross rent
$44.9K $21.60/SF
− Vacancy
−$6.7K −$3.24/SF
EGI
$38.2K $18.36/SF
− OpEx
−$9.5K −$4.59/SF
NOI
$28.6K $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%
$572,280
Cap Rate 7%
$408,771
Cap Rate 9%
$317,933
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 authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
2,293
Businesses Nearby
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Business Placement
Demographics for 87505, NM
32,078
Population
18,733
Households
1.7
Avg Household Size
52
Median Age
54%
College-Educated
94%
High-School Grad
65.1 sq mi
ZIP Area
493
Density / Sq Mi
$75,912
Median Household Income
$41,169
Median Earnings
$1,348
Median Rent
$484,100
Median Home Value
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Market
Average Price Trend$/SF for Office Units in Santa Fe, NM
Properties on Market for Office Units in Santa Fe
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Office unit - Turnkey office space with modern interiors and flexible layout.
Where is this office unit located?
The property is located at 1424 Luisa St 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 property ideal for personal use or investment.
