5-Unit Apartment
3120 Jemez Road, Santa Fe, NM 87507
For Sale
$809,000
CommercialSale, Santa Fe, NM
Property Size3,436 SF
Lot Size0.27 Acres
Price / SF$235.45
Days on Market209
Property Features for 3120 Jemez Road
General Information
Property type
Property subtype
Zoning
Parking
Directions
Standard status
APN
Size
Lot size
Taxes and HOA fees
Tax Description
Legal Description
Utilities
Sewer type
Water source
Building Details
Year built
Building materials
Roof type
Listing Agency:
Shepler Commercial, LLC
(505) 982-7600
Listed By:
Damon Apodaca · License NM #48437
(505) 690-7943
Added: Apr 16
Changed: Oct 17
Last Checked: Nov 10 at 6:06PM
MLS# 202601516
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.
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Investment Insights
Based on property information with market context.
This five-unit apartment property contains 3,436 square feet on a 0.27-acre parcel. The frame construction dates to 1957, and the property is fully occupied with long-term tenants. Site features include mature landscaping, a gravel driveway, and five parking spaces.
The property is served by public water and public sewer and is located at 3120 Jemez Road in Santa Fe, New Mexico. Zoning is listed as R-1, 2, 3, 4, 5, 6. The setting is described as quiet with convenient access.
The property is served by public water and public sewer and is located at 3120 Jemez Road in Santa Fe, New Mexico. Zoning is listed as R-1, 2, 3, 4, 5, 6. The setting is described as quiet with convenient access.
Key Highlights
- Five‑unit apartment property with 3,436 square feet
- Fully occupied and leased to long‑term tenants
- 0.27‑acre parcel with 5 parking spots
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$47,144
Cap Rate
5.83%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$942,880
$942.9K
Cap Rate 7%
$673,486
$673.5K
Cap Rate 9%
$523,822
$523.8K
Market Conditions
NOI Build-Up for 3,436 SF
Gross rent
$89.5K $26.04/SF
− Vacancy
−$3.8K −$1.09/SF
EGI
$85.7K $24.95/SF
− OpEx
−$38.6K −$11.23/SF
NOI
$47.1K $13.72/SF
Area
Santa Fe County, NM
Vacancy
4.20%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$942,880
Cap Rate 7%
$673,486
Cap Rate 9%
$523,822
Alternative Uses
Best Use
Apartment 5plus
$673.5K
$589.3K – $785.7K
NOI $47,144 @ 7.0% cap · market cap 5.83%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$933.0K
$816.4K – $1.09M
NOI $65,311 @ 7.0% cap · market cap 8.07%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
5
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
442
Businesses Nearby
Explore this area
Business Placement
Demographics for 87507, NM
51,338
Population
21,272
Households
2.4
Avg Household Size
38
Median Age
31%
College-Educated
86%
High-School Grad
96.1 sq mi
ZIP Area
534
Density / Sq Mi
$62,955
Median Household Income
$34,102
Median Earnings
$1,276
Median Rent
$333,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Apartment buildings in Santa Fe County, NM
Properties on Market for Apartment buildings in Santa Fe County
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Fully leased multifamily property with on-site parking, mature landscaping, and public utilities.
Where is this apartment building located?
The property is located at 3120 Jemez Road Santa Fe, NM.
What is the asking price?
The asking price for this property is $809,000.
What are key features of this property?
This property features: Five‑unit apartment property with 3,436 square feet; Fully occupied and leased to long‑term tenants; 0.27‑acre parcel with 5 parking spots
