223 E Palace #A B C Santa Fe, NM 87501
Downtown building with three separate units and seven on-site parking spaces, built in 1910 with later additions.
Property Features for 223 E Palace #A B C
General Information
- Standard status
- Active
- Size
- 3,072 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1910
Listing office BARKER REALTY, LLC (505) 982-9836
Listing date Jul 12, 2026
Source Corcoran
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All listing content including descriptions, pricing, images are the copyrighted material of BARKER REALTY, LLC
Investment Insights
Based on property information with market context.
The property offers excellent street frontage and a porch facing Palace Ave, with seven parking spaces on site. It is about 1 1/2 blocks to the Plaza.
Units include distinct spaces for retail and office use, along with the separate residence, supporting a mixed-use setup within a single building.
Key Highlights
- Downtown commercial building totaling approx. 3,072 SF with three separate units: retail, office, and residence
- 7 on‑site parking spaces for tenants and visitors
- Built in 1910 with an addition added in the mid 1970s
Local Financial Insights For Office B
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 | $66.4k | $21.60 |
| − Vacancy | −$10.0k | −$3.24 |
| EGI | $56.4k | $18.36 |
| − OpEx | −$14.1k | −$4.59 |
| NOI | $42.3k | $13.77 |
