Office Condo with Basement
For Sale
$420,000
1440 Saint Francis #B, Santa Fe, NM 87505
Move-in-ready professional office with private rooms, a welcoming reception area, and parking beside the building.
Property Size1,797 SF
Price / SF$233.72
Days on Market57
Property Features for 1440 Saint Francis #B
General Information
Standard status
Active
Size
1,797 SF
Property subtype
Commercial
Additional Details
Floor
Main floor
Building Details
Year Built
1987
Listing Agency:
Sotheby's Int. RE - Railyard
Listed By:
Alexanna Padilla · License #7965
(505) 660-3590
Source:
Lisaharris-realestate
Added: Sep 4
Changed: Oct 28
Last Checked: Oct 28 at 5:25AM
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 Sotheby's Int. RE - Railyard
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Investment Insights
Based on property information with market context.
This office condominium occupies the main floor of the Saint Francis Professional Center and includes 1,397 sq ft with 6 offices. Two offices feature built-in bookcases. The reception area adds 10-foot ceilings, skylights, and a clerestory window, while approximately 400 sq ft of basement area provides additional usable space. The property was built in 1987.
The office is located at 1440 Saint Francis #B in Santa Fe, within an established professional park. Parking is available adjacent to the building. The configuration supports continued professional office use, with basement space that can accommodate storage, a break room, or up to two additional offices. One of the two attorney tenants may be interested in a longer-term lease.
The office is located at 1440 Saint Francis #B in Santa Fe, within an established professional park. Parking is available adjacent to the building. The configuration supports continued professional office use, with basement space that can accommodate storage, a break room, or up to two additional offices. One of the two attorney tenants may be interested in a longer-term lease.
Key Highlights
- 1,397 sq ft main‑floor office condominium
- Approximately 400 sq ft of usable basement space
- 6 offices, including 2 with built‑in bookcases
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,745
Cap Rate
5.89%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$494,900
$494.9K
Cap Rate 7%
$353,500
$353.5K
Cap Rate 9%
$274,944
$274.9K
Market Conditions
NOI Build-Up for 1,797 SF
Gross rent
$38.8K $21.60/SF
− Vacancy
−$5.8K −$3.24/SF
EGI
$33.0K $18.36/SF
− OpEx
−$8.2K −$4.59/SF
NOI
$24.7K $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%
$494,900
Cap Rate 7%
$353,500
Cap Rate 9%
$274,944
Alternative Uses
Best Use
Office B
$353.5K
$309.3K – $412.4K
NOI $24,745 @ 7.0% cap · market cap 5.89%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$488.0K
$427.0K – $569.3K
NOI $34,157 @ 7.0% cap · market cap 8.13%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
2,788
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
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Office unit - Move-in-ready professional office with private rooms, a welcoming reception area, and parking beside the building.
Where is this office unit located?
The property is located at 1440 Saint Francis #B Santa Fe, NM.
What is the asking price?
The asking price for this property is $420,000.
What are key features of this property?
This property features: 1,397 sq ft main‑floor office condominium; Approximately 400 sq ft of usable basement space; 6 offices, including 2 with built‑in bookcases
