Mixed-Use Restaurant and Office
For Sale
$795,000
222 N Guadalupe Street, Santa Fe, NM 87501
CommercialSale, Santa Fe, NM
Property Size3,709 SF
Lot Size0.15 Acres
Price / SF$214.34
Days on Market136
Property Features for 222 N Guadalupe Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
BCD
Directions
St. Francis Drive to Paseo de Peralta. Paseo de Peralta to N. Guadalupe. South on N. Guadalupe to property on right. Look for Remix Audio Bar and Remix after Dark.
Standard status
Active
APN
10193024
Size
3,709 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Description
LOTS 17 & 17A
Legal Description
LOTS 17 & 17A
Utilities
Water source
Public
Building Details
Year built
1950
Listing Agency:
Shepler Commercial, LLC
(505) 982-7600
Listed By:
John Shepler · License #8936
(505) 660-5650
Added: Apr 9
Changed: Aug 19
Last Checked: Aug 22 at 8:06AM
MLS# 202601475
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 mixed-use property includes a ground-floor restaurant totaling 1,891 square feet. An office and/or studio area is located upstairs, totaling 434 square feet. In the back, there is a 692-square-foot residential unit, with storage beneath the residential space also totaling 692 square feet.
The building is zoned BCD. The property is currently occupied by Remix Audio Bar, described as a coffee house and ramen concept. Public remarks also note prior restaurant use at the site, previously operating as Fire and Hops Restaurant and earlier as Tulips Restaurant.
For tenants, operators, or buyers seeking an owner-occupy or multi-use setup, the configuration supports on-site food service along with separate office/studio and residential space. Public remarks provide an approximately $58,164 per year gross income figure, with taxes estimated at approximately $6,726 per year and insurance estimated at approximately $3,600 per year, based on available information. This allows prospective buyers to evaluate the property’s existing income components alongside its three distinct functional areas.
The building is zoned BCD. The property is currently occupied by Remix Audio Bar, described as a coffee house and ramen concept. Public remarks also note prior restaurant use at the site, previously operating as Fire and Hops Restaurant and earlier as Tulips Restaurant.
For tenants, operators, or buyers seeking an owner-occupy or multi-use setup, the configuration supports on-site food service along with separate office/studio and residential space. Public remarks provide an approximately $58,164 per year gross income figure, with taxes estimated at approximately $6,726 per year and insurance estimated at approximately $3,600 per year, based on available information. This allows prospective buyers to evaluate the property’s existing income components alongside its three distinct functional areas.
Key Highlights
- Restaurant space (1891 sf) with established business history.
- Additional Office/Studio space upstairs (434 sf).
- Residential unit in the back (692 sf) with storage space underneath (692 sf).
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
—
—
no second resolved use
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
1
Residential units
Location Intelligence
Trade Area within ½ mile
4,310
Businesses Nearby
93k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Home Improvements & Furnishings 31%
Groceries 20%
Apparel 20%
Dining 19%
HomeGoods
Home Improvements & Furnishings
26,258 visits/mo
0.5 miles
Sprouts Farmers Market
Groceries
18,609 visits/mo
0.4 miles
REI
Apparel
16,262 visits/mo
0.5 miles
Blake's LotaBurger
Dining
9,803 visits/mo
0.2 miles
La Fogata
Dining
5,948 visits/mo
0.3 miles
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 Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Coffee shop - Restaurant space on the ground floor with office/studio and a rear residential unit for diversified mixed-use operations.
Where is this coffee shop located?
The property is located at 222 N 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: Restaurant space (1891 sf) with established business history.; Additional Office/Studio space upstairs (434 sf).; Residential unit in the back (692 sf) with storage space underneath (692 sf).
