Mixed-Use Property with
New
For Sale
$1,875,000
1525 Pacheco Street, Santa Fe, NM 87505
CommercialSale, Santa Fe, NM
Property Size12,746 SF
Lot Size0.87 Acres
Price / SF$147.10
Days on Market2
Property Features for 1525 Pacheco Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
I-1
Directions
From S. St. Francis Drive, head east on W. Cordova Road. Turn right onto Pacheco Street and continue south. The property at 1525 Pacheco Street will be on your right.
Standard status
Active
APN
010448512
Size
12,746 SF
Lot size
0.87 Acres
Taxes and HOA fees
Tax Description
T17N R9E S35, PACHECO S/D 3, WARD B, TRACT C, .873 AC
Legal Description
T17N R9E S35, PACHECO S/D 3, WARD B, TRACT C, .873 AC
Utilities
Sewer type
Public Sewer
Water source
Public
Amenities
security patrols
full video surveillance
exterior lighting
Building Details
Year built
1982
Flooring type
Concrete, Vinyl
Building materials
Block, Frame
Roof type
Flat, Metal
Listing Agency:
Barker Realty, LLC
(505) 982-9836
Listed By:
Cozette E. Hansen · License #49928
(505) 399-0538
Added: Sep 3
Changed: Sep 4
Last Checked: Sep 4 at 5:06AM
MLS# 202603857
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.
Investment Insights
Based on property information with market context.
This 12,746-square-foot mixed-use property on 0.87 acres combines a self-storage operation with commercial and residential components. The storage inventory includes 120 units across five sizes, supported by a dedicated management office. Three warehouse units are fully leased and include roll-up bay doors, in-suite restrooms, and 220-amp electrical service; one also has a 4,000-square-foot fenced yard. The property includes leased office space and a newly renovated one-bedroom apartment.
The site is fully enclosed and features gated entry, exterior lighting, video surveillance, and daytime security patrols. Public water and sewer serve the property. Built in 1982, the improvements include block and frame construction, concrete and vinyl flooring, and metal and flat roofing. The property is located along Pacheco Street in Santa Fe’s Midtown commercial district, with access to major local thoroughfares. Zoning is I-1.
The site is fully enclosed and features gated entry, exterior lighting, video surveillance, and daytime security patrols. Public water and sewer serve the property. Built in 1982, the improvements include block and frame construction, concrete and vinyl flooring, and metal and flat roofing. The property is located along Pacheco Street in Santa Fe’s Midtown commercial district, with access to major local thoroughfares. Zoning is I-1.
Key Highlights
- 12,746‑square‑foot mixed‑use property on 0.87 acres
- Self‑storage mix includes 29 10' x 10', 4 10' x 20', 8 15' x 10', 53 5' x 10', and 26 5' x 5' units
- Three fully leased warehouse units with roll‑up bay doors, in‑suite restrooms, and 220‑amp service
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
$118,600
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
6.33%
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%
$2,372,000
$2.4M
Cap Rate 7%
$1,694,286
$1.7M
Cap Rate 9%
$1,317,778
$1.3M
Market Conditions
NOI Build-Up for 12,746 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
$206.5K $16.20/SF
− Vacancy
−$16.7K −$1.31/SF
EGI
$189.8K $14.89/SF
− OpEx
−$71.2K −$5.58/SF
NOI
$118.6K $9.30/SF
Area
Santa Fe County, NM
Vacancy
8.10%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
37.50%
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%
$2,372,000
Cap Rate 7%
$1,694,286
Cap Rate 9%
$1,317,778
Alternative Uses
Best Use
Office B
$2.51M
$2.19M – $2.93M
NOI $175,512 @ 7.0% cap · market cap 9.36%
Second Best
Mixed Use
$1.69M
$1.48M – $1.98M
NOI $118,600 @ 7.0% cap · market cap 6.33%
Theoretical Best
Office A
$3.46M
$3.03M – $4.04M
NOI $242,276 @ 7.0% cap · market cap 12.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Office units
Multi-tenant
Tenancy
Yes
Fenced yard
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,615
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
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Central commercial property combining storage units, leased warehouse and office space, and a renovated apartment.
Where is this mixed-use property located?
The property is located at 1525 Pacheco Street Santa Fe, NM.
What is the asking price?
The asking price for this property is $1,875,000.
What are key features of this property?
This property features: 12,746‑square‑foot mixed‑use property on 0.87 acres; Self‑storage mix includes 29 10' x 10', 4 10' x 20', 8 15' x 10', 53 5' x 10', and 26 5' x 5' units; Three fully leased warehouse units with roll‑up bay doors, in‑suite restrooms, and 220‑amp service
