Adobe Multifamily
For Sale
$2,749,000
18 Destierro Trail, Pojoaque, NM 87506
ResidentialIncome, Pojoaque, NM
Property Size8,894 SF
Lot Size3.84 Acres
Price / SF$309.08
Days on Market60
Property Features for 18 Destierro Trail
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Non-Conforming,R-1, 2, 3,
Zoning description
residential religious
Bedrooms
12
Full bathrooms
5
Rooms
Bedroom 3, Bedroom 4, Bathroom 1, Bathroom 5, Bedroom 12, Bathroom 2, Bedroom 1, Bedroom 5, Bedroom 10, Bedroom 8, Bedroom 6, Bathroom 4, Bathroom 3, Bedroom 2, Bedroom 9, Bedroom 11, Bedroom 7
Interior features
NoInteriorSteps
Appliances
Dryer, Dishwasher, Oven, Range, Refrigerator, Washer
Elementary school
Pojoaque
Middle school
Pojoaque Jr High
High school
Pojoaque High School
Directions
From Santa Fe, head North on Us-84/US-285 towards Pojoaque. Make a left at Camino Las Joyas/CR 109N. At the first Y ( small sign says Destierro) go right and wind up to the left...you will see a large and long stone wall at the top of the hill...go left when you reach the first gate and drive along the wall until you reach the gate for 18!
Standard status
Active
APN
990001984
Size
8,894 SF
Lot size
3.84 Acres
Taxes and HOA fees
Tax Description
T19N R9E S6, LOT 1, 3.84 AC~
Legal Description
T19N R9E S6, LOT 1, 3.84 AC~
Utilities
Sewer type
Septic Tank
Heating system
Radiant Floor, Natural Gas, Hot Water(Heating), Radiant, Electric (Heating)
Water source
Private, Well
Amenities
courtyard
fountain
fruit trees
flagstone pathways
gardens
Building Details
Year built
1995
Floors in Building
1
Number of units
8
Building materials
Adobe, Frame, Stucco
Roof type
Flat, Shingle, Metal
Architectural style
Other
Listing Agency:
Keller Williams Realty
(505) 983-5151
Listed By:
Leslie Gallatin-Giorgetti · License #47708
(505) 670-7578
Added: Jul 1
Changed: Aug 19
Last Checked: Aug 29 at 7:06PM
MLS# 202602939
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 multifamily property occupies 3.84 acres and provides 8,894 square feet across multiple improvements. The primary hacienda contains six bedrooms, shared baths, and communal living, dining, and kitchen areas. A separate residence adds three bedrooms and one bathroom. The compound also includes a 4,772-square-foot circular adobe sanctuary with radiant in-floor heat, a gathering hall, kitchen, dining area, teaching and gathering rooms, treatment or office spaces, and multiple baths.
Located at 18 Destierro Trail in Pojoaque, the property is approximately 20 minutes north of downtown Santa Fe. Mature cottonwoods, fruit trees, fountains, flagstone walkways, and gardens are set against views of the Las Barrancas Badlands and the Sangre de Cristo Mountains. Construction includes adobe, frame, and stucco, with private well water and septic service. The property was built in 1995 and carries Non-Conforming, R-1, 2, 3 zoning.
Located at 18 Destierro Trail in Pojoaque, the property is approximately 20 minutes north of downtown Santa Fe. Mature cottonwoods, fruit trees, fountains, flagstone walkways, and gardens are set against views of the Las Barrancas Badlands and the Sangre de Cristo Mountains. Construction includes adobe, frame, and stucco, with private well water and septic service. The property was built in 1995 and carries Non-Conforming, R-1, 2, 3 zoning.
Key Highlights
- 3.84‑acre multifamily compound in Pojoaque, NM
- 8,894 square feet across multiple improvements
- Six‑bedroom hacienda plus separate three‑bedroom, one‑bath residence
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
$122,030
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
4.44%
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%
$2,440,600
$2.4M
Cap Rate 7%
$1,743,286
$1.7M
Cap Rate 9%
$1,355,889
$1.4M
Market Conditions
NOI Build-Up for 8,894 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
$231.6K $26.04/SF
− Vacancy
−$9.7K −$1.09/SF
EGI
$221.9K $24.95/SF
− OpEx
−$99.8K −$11.23/SF
NOI
$122.0K $13.72/SF
Area
Santa Fe County, NM
Vacancy
4.20%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
45.00%
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%
$2,440,600
Cap Rate 7%
$1,743,286
Cap Rate 9%
$1,355,889
Alternative Uses
Best Use
Apartment 5plus
$1.74M
$1.53M – $2.03M
NOI $122,030 @ 7.0% cap · market cap 4.44%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.42M
$2.11M – $2.82M
NOI $169,057 @ 7.0% cap · market cap 6.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
5
Businesses Nearby
Explore this area
Business Placement
Demographics for 87506, NM
15,253
Population
8,475
Households
1.8
Avg Household Size
54
Median Age
47%
College-Educated
95%
High-School Grad
309.0 sq mi
ZIP Area
49
Density / Sq Mi
$90,504
Median Household Income
$46,109
Median Earnings
$1,142
Median Rent
$523,600
Median Home Value
Market
Vacancy Rate% for Multifamily 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?
Multifamily property - Multiple residences and a separate gathering building create a distinctive adobe property configuration.
Where is this multifamily property located?
The property is located at 18 Destierro Trail Pojoaque, NM.
What is the asking price?
The asking price for this property is $2,749,000.
What are key features of this property?
This property features: 3.84‑acre multifamily compound in Pojoaque, NM; 8,894 square feet across multiple improvements; Six‑bedroom hacienda plus separate three‑bedroom, one‑bath residence
