Downtown Santa Fe Office
227 E Palace Ave Unit F Santa Fe, NM 87501
227 E Palace Ave Unit F, Santa Fe, NM, 87501
$180,000
For Sale
$180,000
Office condo in downtown Santa Fe with two parking spaces.
Property Size487 SF
Price / SF$369.61
Days on Market239
Property Features for 227 E Palace Ave Unit F
General Information
- Standard status
- Active
- Size
- 487 SF
- Property subtype
- Office
Building Details
- Year Built
- 1948
Listing Agency
(310) 892-6892
Listed by
Shiva Monify · License #CalDRE #01728143
(310) 892-6892
Source
Svn
Added: Nov 21, 2025 Checked: Jul 17 at 6:08 am
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 Shiva Monify
Investment Insights
Based on property information with market context.
This office/commercial condominium, situated on 0.89 acres, features a 487 square foot building. It is part of the Kruger Commercial Condominium project, which totals 12,621 square feet and includes 22 units and 46 parking spaces. The property is located near downtown Santa Fe. The current layout includes two private offices at the back, an open reception area at the front, a small kitchenette, and a private restroom. The suite benefits from natural light and offers storage space. The HOA fee is $539.20. The property includes two dedicated parking spaces in the on-site lot, as well as customer parking. It is located within walking distance of all amenities.
Key Highlights
- Excellent Downtown Santa Fe Location: Walking distance to amenities.
- Two Dedicated Parking Spaces: Plus ample customer parking.
- Abundant Natural Light and Storage: Enhances office functionality.
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 | $10.5k | $21.60 |
| − Vacancy | −$1.6k | −$3.24 |
| EGI | $8.9k | $18.36 |
| − OpEx | −$2.2k | −$4.59 |
| NOI | $6.7k | $13.77 |
487 SF · lease $21.60/SF/yr · vacancy 15.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$95.8K
$83.8K – $111.8K
NOI $6,706 @ 7.0% cap · market cap 3.73%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$132.2K
$115.7K – $154.3K
NOI $9,257 @ 7.0% cap · market cap 5.14%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Sunmount Consulting
Consultant
Danuta Jewelry
(Bike/Boat/Book/etc) Store
Shawn Jett McCourt ...
Real Estate Agency
We Do Windows ...
General Contractor
Trey Jordan Architecture
Architect
Similar For Sale Nearby
FAQs
What type of property is this?
Office units - Office condo in downtown Santa Fe with two parking spaces.
Where is this office units located?
The property is located at 227 E Palace Ave Unit F Santa Fe, NM.
What is the asking price?
The asking price for this property is $180,000.
What are key features of this property?
This property features: Excellent Downtown Santa Fe Location: Walking distance to amenities.; Two Dedicated Parking Spaces: Plus ample customer parking.; Abundant Natural Light and Storage: Enhances office functionality.
