Remodeled Office
For Sale
$495,000
1424 Luisa, Santa Fe, NM 87505
CommercialSale, Santa Fe, NM
Property Size2,078 SF
Lot Size0.05 Acres
Price / SF$238.21
Days on Market250
Property Features for 1424 Luisa
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
C-1
Parking
10
Directions
From St Francis to Columbia to Luisa to property
Standard status
Active
APN
018402145
Size
2,078 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Description
T17N R 9E S26 1424 LUISA STREET CONDOMINIUM UNIT 1
Legal Description
T17N R 9E S26 1424 LUISA STREET CONDOMINIUM UNIT 1
Utilities
Water source
Public
Amenities
reception area
private offices
conference room
kitchenette
Building Details
Year built
1980
Listing Agency:
Varela Real Estate, Inc.
Listed By:
Phillip Varela · License #18075
(505) 982-2525
Added: Mar 2
Changed: Oct 14
Last Checked: Nov 6 at 11:06AM
MLS# 202600758
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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Investment Insights
Based on property information with market context.
Located at 1424 Luisa in Santa Fe, this 2,078-square-foot office property combines Units 1 and 2 in a remodeled configuration. The interior includes reception areas, private offices, conference space, a kitchenette, and work areas arranged for professional operations. Updated finishes and ongoing maintenance support a clean, functional setting for office or service-based use.
The property sits within an established commercial corridor with access to main streets and surrounding commercial areas. On-site parking is available, while public water serves the property. Built in 1980 and zoned C-1, the 0.05-acre site offers a compact commercial footprint with two connected office units and a possible smaller third unit.
The property sits within an established commercial corridor with access to main streets and surrounding commercial areas. On-site parking is available, while public water serves the property. Built in 1980 and zoned C-1, the 0.05-acre site offers a compact commercial footprint with two connected office units and a possible smaller third unit.
Key Highlights
- 2,078 square feet across combined Office Units 1 & 2
- Remodeled interior with updated finishes
- Reception areas, private offices, conference space, and kitchenette
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 - Two connected units provide private offices, conference space, reception areas, and a kitchenette for professional operations.
Where is this office unit located?
The property is located at 1424 Luisa 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: 2,078 square feet across combined Office Units 1 & 2; Remodeled interior with updated finishes; Reception areas, private offices, conference space, and kitchenette
