Five-Unit Retail Strip
1915 Cerrillos Rd Santa Fe, NM 87505
1915 Cerrillos Rd, Santa Fe, NM, 87505
$575,000
For Sale
$575,000
SINGLE_FAMILY - Santa Fe, NM
Property Size3,345 SF
Lot Size0.20 Acres
Price / SF$171.90
Days on Market141
Property Features for 1915 Cerrillos Rd
General Information
- Property type
- Residential
- Property subtype
- Retail
- Zoning
- C-2
- Parking
- 8
- Parking features
- Parking Lot
- Standard status
- Active
- APN
- 12822600
- Size
- 3,345 SF
- Lot size
- 0.20 Acres
Taxes and HOA fees
- Tax Description
- T17N R9E S34, SUNSET ADDITION, BLK 1, SOUTHERLY PORTION OF LOT 9, 0.216 AC to be verified by titleos
Utilities
- Sewer type
- Public Sewer
- Water source
- Public
Building Details
- Year built
- 1954
- Flooring type
- Tile
- Building materials
- Adobe, Frame
- Roof type
- Flat
Listing Agency
Keller Williams Realty
(505) 983-5151
130 Lincoln Ave, Ste. K, Santa Fe, NM
Listed by
Paige B. Cochran · License #50939
(505) 500-2041
Added: Feb 26 Checked: Jul 17 at 5:06 am
MLS# 202600516
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 for-sale strip mall features five retail units under a single ownership. The property includes 14 parking spaces, with two designated handicap spaces and one owner-reserved space. Updates include a new roof installed in 2023, new stucco and paint completed in July 2019, and mini-split systems added to Units 1A and C in 2022.
The building is located on commercial frontage off Cerrillos Road in Santa Fe, within C-2 zoning. Public remarks note the property is positioned across the street from Toyota, Oil Stop, and El Rey Court, supporting walk-and-drive convenience for retail users.
With multiple unit configurations, the center can accommodate tenants seeking storefront space in a shared retail setting. Recent building improvements, along with targeted HVAC upgrades in two units, may help reduce near-term capital concerns for an operator or buyer evaluating the property’s immediate leasing flexibility.
The building is located on commercial frontage off Cerrillos Road in Santa Fe, within C-2 zoning. Public remarks note the property is positioned across the street from Toyota, Oil Stop, and El Rey Court, supporting walk-and-drive convenience for retail users.
With multiple unit configurations, the center can accommodate tenants seeking storefront space in a shared retail setting. Recent building improvements, along with targeted HVAC upgrades in two units, may help reduce near-term capital concerns for an operator or buyer evaluating the property’s immediate leasing flexibility.
Key Highlights
- High‑traffic commercial frontage on Cerrillos Road.
- Five individual units within the building.
- Fourteen parking spaces, including handicap accessibility.
Local Financial Insights For Retail
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 | $66.2k | $19.80 |
| − Vacancy | −$5.6k | −$1.68 |
| EGI | $60.6k | $18.12 |
| − OpEx | −$18.2k | −$5.44 |
| NOI | $42.4k | $12.68 |
3,345 SF · lease $19.80/SF/yr · vacancy 8.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$606.0K
$530.3K – $707.0K
NOI $42,421 @ 7.0% cap · market cap 7.38%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$908.3K
$794.8K – $1.06M
NOI $63,582 @ 7.0% cap · market cap 11.06%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Boost Mobile dba ...
Telecommunications Service
Rodeoland
Clothing Store
A B1 Locksmith
Locksmith
AB1 Locksmith Service
Locksmith
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FAQs
What type of property is this?
Strip mall - Five-unit retail building with dedicated parking and recent exterior and roof improvements, positioned for strong commercial visibility.
Where is this strip mall located?
The property is located at 1915 Cerrillos Rd Santa Fe, NM.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: High‑traffic commercial frontage on Cerrillos Road.; Five individual units within the building.; Fourteen parking spaces, including handicap accessibility.
