Ground-Floor Office
For Sale
$995,000
2904 E Rodeo Park Drive 200, Santa Fe, NM 87505
A collaborative layout combines private offices, open workspace, meeting areas, and a conference room.
Property Size4,418 SF
Price / SF$225.22
Days on Market232
Property Features for 2904 E Rodeo Park Drive 200
General Information
Standard status
Active
Size
4,418 SF
Property subtype
Office
Additional Details
Floor
Ground Floor
HOA Fee
$682.73
Property Use
Office
Taxes and HOA fees
Annual Taxes
$2,839
Building Details
Building Size
4,418 SF
Year Built
2002
Listing Agency:
SF Brown Real Estate
Listed By:
Alicia Bertram · License #48316
(505) 930-0520
Source:
Nmrootsrealestate
Added: Mar 13
Changed: Oct 30
Last Checked: Oct 30 at 1:44AM
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 SF Brown Real Estate
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Investment Insights
Based on property information with market context.
This 4,418-square-foot office unit was built in 2002 and is arranged on one level. Its interior includes a reception area, private offices, open work areas, collaborative meeting space, a kitchen, and a conference room. Polished concrete floors, exposed structural ceilings, contemporary lighting, and natural light contribute to the interior character. Entry is ADA-accessible, with ground-floor access.
The unit is within the Rodeo Park Commercial Condominium Business Park. Parking lot resurfacing was completed in 2025. The owner is responsible for roof, stucco, and HVAC maintenance.
The unit is within the Rodeo Park Commercial Condominium Business Park. Parking lot resurfacing was completed in 2025. The owner is responsible for roof, stucco, and HVAC maintenance.
Key Highlights
- 4,418‑square‑foot office unit
- Single‑level layout with private offices and open workspace
- Includes reception, collaborative meeting areas, kitchen, and conference room
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$60,836
Cap Rate
6.11%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,216,720
$1.2M
Cap Rate 7%
$869,086
$869.1K
Cap Rate 9%
$675,956
$676.0K
Market Conditions
NOI Build-Up for 4,418 SF
Gross rent
$95.4K $21.60/SF
− Vacancy
−$14.3K −$3.24/SF
EGI
$81.1K $18.36/SF
− OpEx
−$20.3K −$4.59/SF
NOI
$60.8K $13.77/SF
Area
Santa Fe County, NM
Vacancy
15.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,216,720
Cap Rate 7%
$869,086
Cap Rate 9%
$675,956
Alternative Uses
Best Use
Office B
$869.1K
$760.5K – $1.01M
NOI $60,836 @ 7.0% cap · market cap 6.11%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.20M
$1.05M – $1.40M
NOI $83,977 @ 7.0% cap · market cap 8.44%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
381
Businesses Nearby
Explore this area
Business Placement
Demographics for 87505, NM
32,078
Population
18,733
Households
1.7
Avg Household Size
52
Median Age
54%
College-Educated
94%
High-School Grad
65.1 sq mi
ZIP Area
493
Density / Sq Mi
$75,912
Median Household Income
$41,169
Median Earnings
$1,348
Median Rent
$484,100
Median Home Value
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Market
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Office unit - A collaborative layout combines private offices, open workspace, meeting areas, and a conference room.
Where is this office unit located?
The property is located at 2904 E Rodeo Park Drive 200 Santa Fe, NM.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: 4,418‑square‑foot office unit; Single‑level layout with private offices and open workspace; Includes reception, collaborative meeting areas, kitchen, and conference room
