Neighborhood Retail
1911 Saint Michaels Dr, Santa Fe, NM 87507
For Sale
New
$1,950,000
CommercialSale, Santa Fe, NM
Property Size10,772 SF
Lot Size0.73 Acres
Price / SF$181.02
Days on Market3
Property Features for 1911 Saint Michaels Dr
General Information
Property type
Property subtype
Zoning
Directions
Standard status
APN
Size
Lot size
Additional Details
Tenant in Place
Utilities
Water source
Building Details
Year built
Listing Agency:
Sotheby's Int. RE - Railyard
(505) 982-9836
Listed By:
Neda Talebreza · License NM #50893
(505) 681-3870
Added: Nov 11
Last Checked: Nov 13 at 11:06PM
MLS# 202604773
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.
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
The neighborhood retail center contains 10,772 square feet across seven individual suites, averaging approximately 1,500 square feet each. Built in 1995, the property is fully occupied and includes Subway as its anchor alongside health and fitness businesses and a ceramics studio. It is zoned C-2 and has 40 dedicated parking spaces on a 0.73-acre site.
Located along St. Michael’s Drive in Santa Fe, the center offers access from the corridor. The property is being sold as a whole and has been condominiumized.
Located along St. Michael’s Drive in Santa Fe, the center offers access from the corridor. The property is being sold as a whole and has been condominiumized.
Key Highlights
- 10,772‑square‑foot neighborhood retail center on 0.73 acres
- Seven retail suites averaging approximately 1,500 square feet each
- 100% occupied, with health and fitness businesses, a ceramics studio, and Subway as anchor tenant
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$136,609
Cap Rate
7.01%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,732,180
$2.7M
Cap Rate 7%
$1,951,557
$2.0M
Cap Rate 9%
$1,517,878
$1.5M
Market Conditions
NOI Build-Up for 10,772 SF
Gross rent
$213.3K $19.80/SF
− Vacancy
−$18.1K −$1.68/SF
EGI
$195.2K $18.12/SF
− OpEx
−$58.5K −$5.44/SF
NOI
$136.6K $12.68/SF
Area
Santa Fe County, NM
Vacancy
8.50%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,732,180
Cap Rate 7%
$1,951,557
Cap Rate 9%
$1,517,878
Alternative Uses
Best Use
Retail
$1.95M
$1.71M – $2.28M
NOI $136,609 @ 7.0% cap · market cap 7.01%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.93M
$2.56M – $3.41M
NOI $204,754 @ 7.0% cap · market cap 10.50%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,746
Businesses Nearby
276k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 35%
Shops & Services 28%
Home Improvements & Furnishings 20%
Groceries 11%
Food King
Groceries
29,719 visits/mo
0.3 miles
Big R
Home Improvements & Furnishings
29,157 visits/mo
0.5 miles
Dion's Pizza
Dining
20,117 visits/mo
0.5 miles
SONIC Drive In
Dining
19,615 visits/mo
0.1 miles
Starbucks
Dining
19,052 visits/mo
0.4 miles
Demographics for 87507, NM
51,338
Population
21,272
Households
2.4
Avg Household Size
38
Median Age
31%
College-Educated
86%
High-School Grad
96.1 sq mi
ZIP Area
534
Density / Sq Mi
$62,955
Median Household Income
$34,102
Median Earnings
$1,276
Median Rent
$333,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in West region
Similar Off Market Nearby
- Coinstar — 2110 S Pacheco St, Santa Fe, NM 87505
- College Plaza South — 2422 Cerrillos Rd, Santa Fe, NM 87505
- St Michaels Village West — 1624 St Michaels Dr, Santa Fe, NM 87505
- Coin Cloud Bitcoin ATM — 2007 Cll Lorca, Santa Fe, NM 87505
- Plaza Del Sol — St Michaels Dr, Santa Fe, NM 87505
Frequently Asked Questions
What type of property is this?
Shopping center - Fully occupied center has seven suites and dedicated parking, with Subway serving as its anchor tenant.
Where is this shopping center located?
The property is located at 1911 Saint Michaels Dr Santa Fe, NM.
What is the asking price?
The asking price for this property is $1,950,000.
What are key features of this property?
This property features: 10,772‑square‑foot neighborhood retail center on 0.73 acres; Seven retail suites averaging approximately 1,500 square feet each; 100% occupied, with health and fitness businesses, a ceramics studio, and Subway as anchor tenant
