Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    304 Johnson St Santa Fe, NM 87501

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contract
    $1,060,000

    Established restaurant with residential units and value-add potential.

    Property size:
    3,726 SF
    Lot size:
    0.24 Acres

    Property Features for 304 Johnson St

    General Information

    Standard status
    Contract
    Size
    3,726 SF
    Lot size
    0.24 Acres

    Building Details

    Year built
    1900

    We can help!

    Listing Contact
    Jacob Rocker
    Jacob Rocker
    Source: Corcoran

    Listing Agency: REAL ESTATE ADVISORS, LLC Listing Agent: Jacob Rocker

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Restaurant with Residential Income Property

    The property has housed Terracotta Wine Bistro since 2013, a restaurant recognized for its cuisine and wine selection. The restaurant provides a stable, long-term commercial tenancy that generates consistent income. The property offers a value-add opportunity through the conversion of its long-term residential rental units into short-term hospitality accommodations. Given Santa Fe’s tourism market, short-term rentals may command higher rates, potentially increasing cash flow. An underutilized garage space could be converted into heated square footage, potentially allowing for the addition of a third studio unit. The property size is 3726 square feet.
    Location Intelligence

    Current Use by Public Records

    TerraCotta Wine Bistro Restaurant

    Suggested Use

    Restaurant Real Estate Agency Dental Office Law Firm Spa & Massage Center Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Santa Fe
    County
    Santa Fe
    State
    New Mexico
    Longitude
    -105.9426162
    Latitude
    35.6890652

    Nearby Similar for Sale

    • New
      $435,000
      Pending

      Santa Fe Midtown Office Space

      Midtown office with flexible floor plan and ample parking.
      1723 2Nd St, Santa Fe, NM 87505
      View Details
    • New
      $1,700,000
      9,592 SF

      Santa Fe Office/Research Facility

      9,592 SF office/research facility on 0.9 acres in Santa Fe.
      124 Siringo Rd, Santa Fe, NM 87505
      View Details
    • New
      $449,000
      2,562 SF

      Flexible Office Space in Santa Fe

      Versatile office space suitable for wellness or professional practices.
      1482 S St. Francis Dr, Santa Fe, NM 87505
      View Details
    • $2,500,000
      Pending

      Canyon Road Commercial Space Available

      Flexible commercial space on Canyon Road, Santa Fe.
      808 Canyon Rd, Santa Fe, NM 87505
      View Details
    • $449,900
      1,126 SF

      Santa Fe Corner Unit with Balcony

      Modern live-work space with mountain views in central Santa Fe.
      1109 Paseo Corazon, Santa Fe, NM 87507
      View Details
    • $1,060,000
      Pending

      Established Restaurant with Rental Income

      Profitable restaurant with rental units and value-add potential.
      304 Johnson St, Santa Fe, NM 87501
      View Details
    • $254,880
      Pending

      Santa Fe Office Space Available

      Office space in Galisteo Business Park, St. Michael's corridor.
      2019 Galisteo St, Santa Fe, NM 87505
      View Details
    • $450,000
      1,600 SF

      Versatile Office Space in Santa Fe

      Spacious office suites suitable for medical, administrative, or professional use.
      460 103, Santa Fe, NM 87505
      View Details
    • $3,800,000
      19,911 SF

      Downtown Santa Fe Plaza Office Building

      Versatile BCD zoned property in Santa Fe's historic district.
      142 W Palace Ave, Santa Fe, NM 87501
      View Details
    • New
      $495,000
      2,078 SF

      Remodeled Office Space in Santa Fe

      Turnkey office space with modern interiors and flexible layout.
      1424 Luisa Unit 1 & 2, Santa Fe, NM 87505
      View Details
    • $565,000
      1,384 SF

      Professional Office Condo in Santa Fe

      Professional office condo in a high-traffic Santa Fe location.
      103 S St Francis Dr, Santa Fe, NM 87501
      View Details
    • $525,000
      Pending

      Flex-Use Condominium in Santa Fe

      New commercial condominium development in Santa Fe's Warehouse and Arts District.
      1189 Parkway Dr, Santa Fe, NM 87507
      View Details

    FAQs

    What type of property is this?
    Conventional restaurant - Established restaurant with residential units and value-add potential.
    Where is this conventional restaurant located?
    The property is located at 304 Johnson St Santa Fe, NM.
    What is the asking price?
    The asking price for this property is $1,060,000.
    What are key features of this property?
    This property features: - Stable, long-term commercial tenancy with award-winning Terracotta Wine Bistro providing consistent income.; - Value-add opportunity to convert long-term residential rentals into higher-earning short-term hospitality accommodations.; - Potential to increase heated square footage and add a third studio unit by converting underutilized garage space.
    (505) 226-3929
    Request Owner's contact information
    304 Johnson St Santa Fe, NM 87501
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    304 Johnson St
    Santa Fe, NM 87501
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    304 Johnson St Santa Fe, NM 87501
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Jacob Rocker
    Jacob Rocker
    Real Estate License ID: 52736
    (505) 226-3929 (505) 539-3204 (505) 539-3201
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!