Santa Fe Lofts Live/Work
3600 Cerrillos #1001 Santa Fe, NM 87507
For Sale
$261,000
Ground floor live/work unit with investment potential in Santa Fe.
Property Size1,332 SF
Price / SF$195.95
Days on Market297
Property Features for 3600 Cerrillos #1001
General Information
- Standard status
- Active
- Size
- 1,332 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1995
Listing Agency:
SHEPLER COMMERCIAL, LLC
(505) 982-7600
Listed By:
JOHN SHEPLER · License #8936
Source:
Corcoran
Added: Sep 30, 2025
Changed: Jul 10
Last Checked: Jul 23 at 9:30AM
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 SHEPLER COMMERCIAL, LLC
Investment Insights
Based on property information with market context.
Located in Santa Fe, the Cerrillos Lofts offer a mix of live/work, residential, and commercial investment spaces. This ground floor, end-cap unit, with a size of 1332 square feet, has been used as investment real estate by the current owner. The property is currently occupied by four tenants, each with their own office. The current net operating income is approximately $12,263.00 plus utilities. The leases are currently month to month, providing flexibility for a new owner to either continue renting to the current tenants or use the space themselves. The Cerrillos Lofts has ample parking available. The Lofts in Santa Fe has always been a desirable spot for the Live/Work model, in fact it was conceived for that purpose.
Key Highlights
- Investment property with existing tenants and current NOI of approximately $12,263 plus utilities.
- Potential for increased rental income; market suggests each office could lease for $600/month.
- Flexibility to occupy the unit for live/work or other purposes due to month‑to‑month leases.
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 | $28.8k | $21.60 |
| − Vacancy | −$4.3k | −$3.24 |
| EGI | $24.5k | $18.36 |
| − OpEx | −$6.1k | −$4.59 |
| NOI | $18.3k | $13.77 |
1,332 SF · lease $21.60/SF/yr · vacancy 15.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$262.0K
$229.3K – $305.7K
NOI $18,342 @ 7.0% cap · market cap 7.03%
Second Best
Mixed Use
$177.1K
$154.9K – $206.6K
NOI $12,394 @ 7.0% cap · market cap 4.75%
Theoretical Best
Office A
$361.7K
$316.5K – $422.0K
NOI $25,319 @ 7.0% cap · market cap 9.70%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Luluscape
(Bike/Boat/Book/etc) Store
Integrative Medicine Institute
Physician
English Erin
Engineer
Michael Ray Martin ...
Dental Office
Lopez-Hinds Samantha
Dental Office
FAQs
What type of property is this?
Live-work space - Ground floor live/work unit with investment potential in Santa Fe.
Where is this live-work space located?
The property is located at 3600 Cerrillos #1001 Santa Fe, NM.
What is the asking price?
The asking price for this property is $261,000.
What are key features of this property?
This property features: Investment property with existing tenants and current NOI of approximately $12,263 plus utilities.; Potential for increased rental income; market suggests each office could lease for $600/month.; Flexibility to occupy the unit for live/work or other purposes due to month‑to‑month leases.
