Office/Retail Space on St.
For Sale
$270,000
1482 Saint Francis #B, Santa Fe, NM 87505
Flexible commercial space with high visibility and ample parking.
Property Size960 SF
Lot Size0.03 Acres
Price / SF$281.25
Days on Market260
Property Features for 1482 Saint Francis #B
General Information
Standard status
Active
Size
960 SF
Lot size
0.03 Acres
Property subtype
Commercial
Amenities
Flat Roof
Parking Lot
Building Details
Year Built
1988
Listing Agency:
VARELA REAL ESTATE, INC.
(505) 982-2525
Listed By:
PHILLIP VARELA · License #18075
Source:
Corcoran
Added: Dec 9, 2025
Changed: Aug 25
Last Checked: Aug 25 at 7:58AM
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 commercial property offers flexible office space with strong signage potential. The property features three private offices plus a reception area and one ADA-compliant bathroom. Generous storage space is available. A 2-car carport and ample on-site parking are included. The property is well-located on St. Francis Drive, providing excellent visibility and access. Its location is near downtown and major commercial corridors. This property is ideal for professional services, retail, or client-facing businesses. The property size is 960 square feet.
Key Highlights
- Prime location on St. Francis Drive with excellent visibility and access
- Flexible office space ideal for professional services, retail, or client‑facing businesses
- Ample on‑site parking and 2‑car carport
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
$13,219
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
4.90%
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%
$264,380
$264.4K
Cap Rate 7%
$188,843
$188.8K
Cap Rate 9%
$146,878
$146.9K
Market Conditions
NOI Build-Up for 960 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
$20.7K $21.60/SF
− Vacancy
−$3.1K −$3.24/SF
EGI
$17.6K $18.36/SF
− OpEx
−$4.4K −$4.59/SF
NOI
$13.2K $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%
$264,380
Cap Rate 7%
$188,843
Cap Rate 9%
$146,878
Alternative Uses
Best Use
Office B
$188.8K
$165.2K – $220.3K
NOI $13,219 @ 7.0% cap · market cap 4.90%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$260.7K
$228.1K – $304.1K
NOI $18,248 @ 7.0% cap · market cap 6.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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 - Flexible commercial space with high visibility and ample parking.
Where is this office units located?
The property is located at 1482 Saint Francis #B Santa Fe, NM.
What is the asking price?
The asking price for this property is $270,000.
What are key features of this property?
This property features: Prime location on St. Francis Drive with excellent visibility and access; Flexible office space ideal for professional services, retail, or client‑facing businesses; Ample on‑site parking and 2‑car carport
