Santa Fe Redevelopment
1625 Paseo de Peralta Santa Fe, NM 87501
1625 Paseo de Peralta, Santa Fe, NM, 87501
$8,200,000
For Sale
$8,200,000
2.9-acre parcel near Railyard with redevelopment potential.
Property Size30,760 SF
Lot Size2.90 Acres
Price / SF$266.58
Days on Market225
Property Features for 1625 Paseo de Peralta
General Information
- Standard status
- Active
- Size
- 30,760 SF
- Lot size
- 2.90 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 1931
Listing Agency
REAL ESTATE ADVISORS, LLC
(505) 539-3200
Listed by
TAI BIXBY · License #40315
Source
Corcoran
Added: Dec 8, 2025 Updated: Jul 6 at 9:55 am Checked: Jul 19 at 4:32 am
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 REAL ESTATE ADVISORS, LLC
Investment Insights
Based on property information with market context.
The Alvord School presents a significant redevelopment opportunity in Santa Fe's urban core. This approximately 2.9-acre infill parcel is located adjacent to the Santa Fe Railyard, a mixed-use cultural district. The existing building, totaling approximately 30,760 square feet, was originally constructed in 1931 and expanded through the 1970s. The Business Capital District (BCD) zoning designation offers flexibility for various uses, including hotel/hospitality, office/medical/dental, educational facilities, nonprofit or institutional headquarters, residential (multifamily, condominiums, live/work), retail, café, restaurant, service commercial, cultural uses (museums, galleries, performing arts), and religious and assembly use. Development is governed by height zones and Master Plan parameters. The Santa Fe Railyard is a nationally recognized arts, culture, and mixed-use district that includes the Santa Fe Farmers’ Market, Violet Crown Cinema, SITE Santa Fe, El Museo Cultural, Railyard Plaza + Public Green, REI, Rail Trail + Santa Fe Depot. The property offers transit-oriented development potential with walkability to transit, proximity to amenities, reduced parking requirements, and integration with a mixed-use environment. Extensive entitlements, including the Alvord Master Plan, archaeological clearance, and pre-reviewed infrastructure, reduce planning risk and development timelines. This property is a rare opportunity for hospitality, residential, mixed-use, institutional, medical, or educational redevelopment.
Key Highlights
- Prime 2.9‑acre infill parcel adjacent to the Santa Fe Railyard.
- Highly permissive Business Capital District (BCD) zoning allows for diverse redevelopment options.
- Extensive entitlements reduce planning risk and development timelines.
Local Financial Insights For Healthcare Medical
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $775.2k | $25.20 |
| − Vacancy | −$65.9k | −$2.14 |
| EGI | $709.3k | $23.06 |
| − OpEx | −$283.7k | −$9.22 |
| NOI | $425.6k | $13.83 |
30,760 SF · lease $25.20/SF/yr · vacancy 8.50% · expense 40.00%
Alternative Uses
Best Use
Healthcare Medical
$6.08M
$5.32M – $7.09M
NOI $425,558 @ 7.0% cap · market cap 5.19%
Second Best
Office B
$6.05M
$5.29M – $7.06M
NOI $423,565 @ 7.0% cap · market cap 5.17%
Theoretical Best
Office A
$8.35M
$7.31M – $9.74M
NOI $584,686 @ 7.0% cap · market cap 7.13%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Hotels
Similar For Sale Nearby
FAQs
What type of property is this?
Mixed-use property - 2.9-acre parcel near Railyard with redevelopment potential.
Where is this mixed-use property located?
The property is located at 1625 Paseo de Peralta Santa Fe, NM.
What is the asking price?
The asking price for this property is $8,200,000.
What are key features of this property?
This property features: Prime 2.9‑acre infill parcel adjacent to the Santa Fe Railyard.; Highly permissive Business Capital District (BCD) zoning allows for diverse redevelopment options.; Extensive entitlements reduce planning risk and development timelines.
