Fenced Warehouse with
For Sale
$500,000
Pending
1747 Jay Street, Santa Fe, NM 87505
CommercialSale, Santa Fe, NM
Property Size1,800 SF
Lot Size0.17 Acres
Days on Market154
Property Features for 1747 Jay Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C-2
Parking features
Parking Lot, On Street
Directions
Heading north on S St. Francis, turn left onto W. San Mateo Rd. After 0.5 miles, turn left onto Jay St. Continue for 0.3 miles, the property will be on the right-hand side of the street on the hard corner of 4th St and Jay St.
Standard status
Pending
APN
011526272
Size
1,800 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Description
LOT 9A BLK 1 REPLAT OF LOTS 9-10 OF BLK 1 LA CANADA UNIT 2 1747 JAY ST D/B/A SANTA FE AUT
Legal Description
LOT 9A BLK 1 REPLAT OF LOTS 9-10 OF BLK 1 LA CANADA UNIT 2 1747 JAY ST D/B/A SANTA FE AUT
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1980
Building materials
MetalSiding
Roof type
Metal
Listing Agency:
Barker Realty, LLC
(505) 982-9836
Listed By:
Cozette E. Hansen · License #49928
(505) 399-0538
Added: Mar 27
Changed: Aug 19
Last Checked: Aug 27 at 11:06PM
MLS# 202601111
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 1,800-square-foot warehouse was built in 1980 and includes a front reception and office area, breakroom, restroom, and an 18' x 15' upstairs mezzanine for storage. Three 12-foot roll-up doors and one 10-foot roll-up door provide loading access. Water and gas-hanging heaters serve the warehouse, while the metal-sided building has a metal roof.
Recent updates include plumbing, electrical, asphalt, exterior paint, and the roll-up doors. The fenced property has privacy slats and two locking gates, with parking available on site and along the street. Public water and public sewer serve the property. It is currently leased under a three-year term with annual increases; showings are by appointment.
Recent updates include plumbing, electrical, asphalt, exterior paint, and the roll-up doors. The fenced property has privacy slats and two locking gates, with parking available on site and along the street. Public water and public sewer serve the property. It is currently leased under a three-year term with annual increases; showings are by appointment.
Key Highlights
- 1,800 square feet of warehouse space with reception, office, breakroom, and restroom
- Three 12‑foot roll‑up doors plus one 10‑foot roll‑up door
- 18' x 15' upstairs mezzanine storage area
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
$18,954
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
3.79%
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%
$379,080
$379.1K
Cap Rate 7%
$270,771
$270.8K
Cap Rate 9%
$210,600
$210.6K
Market Conditions
NOI Build-Up for 1,800 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
$32.4K $18.00/SF
− Vacancy
−$3.2K −$1.80/SF
EGI
$29.2K $16.20/SF
− OpEx
−$10.2K −$5.67/SF
NOI
$19.0K $10.53/SF
Area
Santa Fe County, NM
Vacancy
10.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
35.00%
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%
$379,080
Cap Rate 7%
$270,771
Cap Rate 9%
$210,600
Alternative Uses
Best Use
Flex RnD
$270.8K
$236.9K – $315.9K
NOI $18,954 @ 7.0% cap · market cap 3.79%
Second Best
Warehouse
$155.3K
$135.9K – $181.2K
NOI $10,869 @ 7.0% cap · market cap 2.17%
Theoretical Best
Office A
$488.8K
$427.7K – $570.2K
NOI $34,214 @ 7.0% cap · market cap 6.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
1,799
Businesses Nearby
Well-served
Demand for This Use
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 Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- St. Michael's Self Storage — 1935 Aspen Dr, Santa Fe, NM 87505
- Extra Space Storage — 900 W San Mateo Rd, Santa Fe, NM 87505
- A-San Mateo Mini Warehouses — 841 W San Mateo Rd, Santa Fe, NM 87505
- A-1 Self Storage — 2000 Pinon St, Santa Fe, NM 87505
- Extra Space Storage — 875 W San Mateo Rd, Santa Fe, NM 87505
Frequently Asked Questions
What type of property is this?
Warehouse - Leased warehouse with updated building systems, office support space, and secured gated yard.
Where is this warehouse located?
The property is located at 1747 Jay Street Santa Fe, NM.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: 1,800 square feet of warehouse space with reception, office, breakroom, and restroom; Three 12‑foot roll‑up doors plus one 10‑foot roll‑up door; 18' x 15' upstairs mezzanine storage area
