Ground-Floor Live-Work
For Sale
$395,000
3600 Cerrillos Rd, Santa Fe, NM 87507
Corner-positioned space includes private outdoor access and landscaped garden surroundings.
Property Size1,195 SF
Price / SF$330.54
Days on Market100
Property Features for 3600 Cerrillos Rd
General Information
Standard status
Active
Size
1,195 SF
Property subtype
Commercial
Additional Details
Multifamily Units
4
Building Details
Year Built
1995
Listing Agency:
Keller Williams Realty
(505) 983-5151
Listed By:
Brian Tercero
(505) 594-9586
Source:
Mrsantaferealestate
Added: Jul 10
Changed: Oct 16
Last Checked: Oct 16 at 8:48AM
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 Keller Williams Realty
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Investment Insights
Based on property information with market context.
This 1,195-square-foot condominium occupies a ground-floor corner position within a live-work community. The property was built in 1995 and offers a flexible configuration suited to combined commercial and residential use. Existing space includes multiple units, with three currently rented and two joined units vacant.
A private entrance from the rear portion leads to an outdoor patio bordered by maintained garden areas. The property is located at 3600 Cerrillos Rd in Santa Fe, providing an established setting for a live-work condominium with adaptable interior arrangements.
A private entrance from the rear portion leads to an outdoor patio bordered by maintained garden areas. The property is located at 3600 Cerrillos Rd in Santa Fe, providing an established setting for a live-work condominium with adaptable interior arrangements.
Key Highlights
- 1,195 SF ground‑floor condominium
- Corner‑unit position within a live‑work community
- Three units currently rented
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,455
Cap Rate
4.17%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$329,100
$329.1K
Cap Rate 7%
$235,071
$235.1K
Cap Rate 9%
$182,833
$182.8K
Market Conditions
NOI Build-Up for 1,195 SF
Gross rent
$25.8K $21.60/SF
− Vacancy
−$3.9K −$3.24/SF
EGI
$21.9K $18.36/SF
− OpEx
−$5.5K −$4.59/SF
NOI
$16.5K $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%
$329,100
Cap Rate 7%
$235,071
Cap Rate 9%
$182,833
Alternative Uses
Best Use
Office B
$235.1K
$205.7K – $274.3K
NOI $16,455 @ 7.0% cap · market cap 4.17%
Second Best
Mixed Use
$158.8K
$139.0K – $185.3K
NOI $11,119 @ 7.0% cap · market cap 2.81%
Theoretical Best
Office A
$324.5K
$283.9K – $378.6K
NOI $22,715 @ 7.0% cap · market cap 5.75%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
894
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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Market
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Live-work space - Corner-positioned space includes private outdoor access and landscaped garden surroundings.
Where is this live-work space located?
The property is located at 3600 Cerrillos Rd Santa Fe, NM.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: 1,195 SF ground‑floor condominium; Corner‑unit position within a live‑work community; Three units currently rented
