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Cerrillos Road Commercial Property

1932 Cerrillos Road, Santa Fe, NM 87505

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For Sale

$1,100,000

High-visibility commercial property on Cerrillos Road, Santa Fe.

Type:Commercial/Industrial

Property size:

4,631 SF

Lot size:

0.39 Acres

Price / SF:

$237/SF

HighLights

High‑traffic location on Cerrillos Road (30,000 VPD) with excellent visibility.
C‑2 zoning allows for a wide range of uses including office, retail, automotive, medical, dental, restaurant, and public assembly.
Existing rental income from office and automotive maintenance tenants.
Planned city and state improvements including new sidewalks, median, and street trees.
Utilities include 2 water meters and separate meters for gas and electricity.
Phase 1 Environmental Site Assessment Complete, Phase 2 Environmental Site Assessment to be complete shortly.

We can help!

Listing Contact

James Delgado

For Sale

$1,100,000

High-visibility commercial property on Cerrillos Road, Santa Fe.

Type:Commercial/Industrial

Property size:

4,631 SF

Lot size:

0.39 Acres

Price / SF:

$237/SF

Added:: Nov 26, 2024
Days on Market:: 566
Last Refresh:: May 19 at 9:02 pm

Property Features for 1932 Cerrillos Road

General Information

Standard status: Active
Size: 4,631 SF
Lot size: 0.39 Acres
Property subtype: Commercial/Industrial

We can help!

Listing Contact

James Delgado

Listing agent James Delgado License #39148

Listing office Barker Realty, LLC

Listing date Nov 26, 2024

Source Exitrealty

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 Barker Realty, LLC

HighLights

High‑traffic location on Cerrillos Road (30,000 VPD) with excellent visibility.
C‑2 zoning allows for a wide range of uses including office, retail, automotive, medical, dental, restaurant, and public assembly.
Existing rental income from office and automotive maintenance tenants.
Planned city and state improvements including new sidewalks, median, and street trees.
Utilities include 2 water meters and separate meters for gas and electricity.
Phase 1 Environmental Site Assessment Complete, Phase 2 Environmental Site Assessment to be complete shortly.

Overview

Located on a busy section of Cerrillos Road with a traffic volume of 30,000 vehicles per day, this commercial property offers excellent visibility. The surrounding area includes businesses such as Toyota, Beck and Bulow, Jiffy Lube, Budget Car Rental, Mampuku Ramen, Jambo, Chase Bank, Dion’s Pizza, and Chick-Fil-A. Currently, the property is owner-occupied by La Unica Drycleaner, with additional rental income from an office tenant and an automotive maintenance tenant. The offering includes the real estate only; the La Unica business and trade name are available for separate purchase. Zoned C-2, the property allows for various uses, including office, retail, automotive, medical, dental, restaurant, and public assembly. The City and State have planned new sidewalks, a median, and street trees for this section of Cerrillos Road. Utilities include two water meters and separate meters for gas and electricity. A Phase 1 Environmental Site Assessment is complete, and a Phase 2 Environmental Site Assessment is forthcoming. The property size is 4631 square feet.

Local Financial Insights For Office B

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$100.0k	$21.60
− Vacancy	−$15.0k	−$3.24
EGI	$85.0k	$18.36
− OpEx	−$21.3k	−$4.59
NOI	$63.8k	$13.77

4,631 SF · lease $21.60/SF/yr · vacancy 15.00% · expense 25.00%

Alternative Uses

Best Use

Office B

$911.0K

$797.1K – $1.06M (±1% cap)

NOI $63,769 @ 7.0% cap · market cap 5.80%

Second Best

Retail

$839.0K

$734.1K – $978.8K (±1% cap)

NOI $58,730 @ 7.0% cap · market cap 5.34%

Theoretical Best

Office A

$1.26M

$1.10M – $1.47M (±1% cap)

NOI $88,026 @ 7.0% cap · market cap 8.00%

Zoning and permitted uses should be independently verified with local authorities.

Property Profile Location Intelligence

Current Use by Public Records

La Unica Cleaners ... (Bike/Boat/Book/etc) Store

Suggested Use

Location Insight

Map
Local Demand

City: Santa Fe
County: Santa Fe
State: New Mexico
Longitude: -105.975
Latitude: 35.6633

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For sale
Storefront properties
NM
Santa Fe
87505
1932 Cerrillos Road

What type of property is this?

Storefront property - High-visibility commercial property on Cerrillos Road, Santa Fe.

Where is this storefront property located?

The property is located at 1932 Cerrillos Road Santa Fe, NM.

What is the asking price?

The asking price for this property is $1,100,000.

What are key features of this property?

This property features: High‑traffic location on Cerrillos Road (30,000 VPD) with excellent visibility.; C‑2 zoning allows for a wide range of uses including office, retail, automotive, medical, dental, restaurant, and public assembly.; Existing rental income from office and automotive maintenance tenants.