Renovated Office
For Sale
$225,000
1456 Saint Francis, Santa Fe, NM 87505
Professional workspace with private courtyard, flexible room separation, and C-1 zoning supporting office, medical, and dental uses.
Property Size1,152 SF
Price / SF$195.31
Days on Market32
Property Features for 1456 Saint Francis
General Information
Standard status
Active
Size
1,152 SF
Property subtype
Mixed Use
Zoning
C-1
Additional Details
Office Units
1
Amenities
private courtyard
kiva fireplace
gallery lighting
water feature
updated kitchenette
pocket doors
Building Details
Year Built
1991
Tenancy
Single
Owner Occupied
Yes
Listing Agency:
Keller Williams Realty
(505) 795-9699
Listed By:
Daniel Huberman · License #REC20240904
(505) 795-9699
Source:
Xome
Added: Aug 1
Changed: Aug 30
Last Checked: Aug 31 at 2:07PM
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 Keller Williams Realty
Investment Insights
Based on property information with market context.
This 1,152-square-foot office unit in the St. Francis Professional Center was built in 1991 and configured for professional business use. The layout includes two large offices, an executive office with a private entrance and kiva fireplace, a conference and reception area, kitchenette, two bathrooms, and an additional work nook. Pocket doors provide separation between the reception area and workspaces when privacy is needed.
The property includes a private courtyard and ample parking within the professional center. Improvements include a new AC and heating system installed in 2023, new flooring and paint throughout, professional radon mitigation, and a chimney extension serving the executive office fireplace. Custom key furniture items are also available for purchase. C-1 zoning and the professional association bylaws allow office, professional, medical, and dental uses.
The property includes a private courtyard and ample parking within the professional center. Improvements include a new AC and heating system installed in 2023, new flooring and paint throughout, professional radon mitigation, and a chimney extension serving the executive office fireplace. Custom key furniture items are also available for purchase. C-1 zoning and the professional association bylaws allow office, professional, medical, and dental uses.
Key Highlights
- 1,152 SF office unit in the St. Francis Professional Center
- Two large offices plus an executive office with private entrance and kiva fireplace
- Conference and reception area with gallery lighting and formal reception
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$15,863
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.05%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$317,260
$317.3K
Cap Rate 7%
$226,614
$226.6K
Cap Rate 9%
$176,256
$176.3K
Market Conditions
NOI Build-Up for 1,152 SF
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.
Gross rent
$24.9K $21.60/SF
− Vacancy
−$3.7K −$3.24/SF
EGI
$21.2K $18.36/SF
− OpEx
−$5.3K −$4.59/SF
NOI
$15.9K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$317,260
Cap Rate 7%
$226,614
Cap Rate 9%
$176,256
Alternative Uses
Best Use
Office B
$226.6K
$198.3K – $264.4K
NOI $15,863 @ 7.0% cap · market cap 7.05%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$312.8K
$273.7K – $365.0K
NOI $21,897 @ 7.0% cap · market cap 9.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Office units
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,788
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - Professional workspace with private courtyard, flexible room separation, and C-1 zoning supporting office, medical, and dental uses.
Where is this office units located?
The property is located at 1456 Saint Francis Santa Fe, NM.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: 1,152 SF office unit in the St. Francis Professional Center; Two large offices plus an executive office with private entrance and kiva fireplace; Conference and reception area with gallery lighting and formal reception
