Mixed-Use Property with Restaurant
For Sale
$795,000
222 Guadalupe Street, Santa Fe, NM 87501
Multi-level layout includes food service, office, residential, and storage areas.
Property Size3,709 SF
Price / SF$214.34
Days on Market289
Property Features for 222 Guadalupe Street
General Information
Standard status
Active
Size
3,709 SF
Property subtype
General Commercial
Additional Details
Gross Income
$58,164
Office Units
1
Amenities
3
BCD
Building Details
Year Built
1950
Listing Agency:
Shepler Commercial, LLC
(505) 660-5650
Listed By:
John Shepler · License #8936QB
(505) 660-5650
Source:
Xome
Added: Nov 16, 2025
Changed: Aug 31
Last Checked: Aug 31 at 2:48PM
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 Shepler Commercial, LLC
Investment Insights
Based on property information with market context.
This 3,709 SF mixed-use property combines several distinct areas within a 1950 building. The ground floor provides 1,891 SF of restaurant space, while the upper level contains a 434 SF office or studio area. A 692 SF residential unit is positioned at the rear, with an additional 692 SF of storage space below it.
Located at 222 N Guadalupe Street in Santa Fe, the property brings restaurant, workspace, residential, and storage components together in one building. The configuration offers a varied physical layout for an owner-user or operator seeking multiple functional areas within a single commercial property.
Located at 222 N Guadalupe Street in Santa Fe, the property brings restaurant, workspace, residential, and storage components together in one building. The configuration offers a varied physical layout for an owner-user or operator seeking multiple functional areas within a single commercial property.
Key Highlights
- 3,709 SF mixed‑use property at 222 N Guadalupe Street, Santa Fe, NM 87501
- 1,891 SF restaurant area on the ground floor
- 434 SF office or studio space upstairs
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
$56,360
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
7.09%
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%
$1,127,200
$1.1M
Cap Rate 7%
$805,143
$805.1K
Cap Rate 9%
$626,222
$626.2K
Market Conditions
NOI Build-Up for 3,709 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
$80.1K $21.60/SF
− Vacancy
−$5.0K −$1.34/SF
EGI
$75.1K $20.26/SF
− OpEx
−$18.8K −$5.07/SF
NOI
$56.4K $15.20/SF
Area
Santa Fe County, NM
Vacancy
6.20%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
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%
$1,127,200
Cap Rate 7%
$805,143
Cap Rate 9%
$626,222
Alternative Uses
Best Use
Specialty Retail
$805.1K
$704.5K – $939.3K
NOI $56,360 @ 7.0% cap · market cap 7.09%
Second Best
Office B
$729.6K
$638.4K – $851.2K
NOI $51,073 @ 7.0% cap · market cap 6.42%
Theoretical Best
Office A
$1.01M
$881.3K – $1.18M
NOI $70,501 @ 7.0% cap · market cap 8.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Office units
Location Intelligence
Trade Area within ½ mile
4,310
Businesses Nearby
Explore this area
Business Placement
Demographics for 87501, NM
15,116
Population
10,480
Households
1.4
Avg Household Size
58
Median Age
61%
College-Educated
97%
High-School Grad
50.6 sq mi
ZIP Area
299
Density / Sq Mi
$81,229
Median Household Income
$52,851
Median Earnings
$1,516
Median Rent
$649,100
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Multi-level layout includes food service, office, residential, and storage areas.
Where is this mixed-use property located?
The property is located at 222 Guadalupe Street Santa Fe, NM.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: 3,709 SF mixed‑use property at 222 N Guadalupe Street, Santa Fe, NM 87501; 1,891 SF restaurant area on the ground floor; 434 SF office or studio space upstairs
