3831 Thomas Road #A Santa Fe, NM 87507
3831 Thomas Road #A, Santa Fe, NM, 87507
$599,000
For Sale
$599,000
Flex space
Property Size2,990 SF
Lot Size0.05 Acres
Price / SF$200.33
Days on Market145
Property Features for 3831 Thomas Road #A
General Information
- Standard status
- Active
- Size
- 2,990 SF
- Lot size
- 0.05 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 2007
Listing agency
VARELA REAL ESTATE, INC.
(505) 982-2525
Listed by
PHILLIP VARELA · License #18075
Source
Corcoran
Added: Feb 26 Updated: Jul 10 at 3:46PM Checked: Jul 21 at 5:40AM
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 VARELA REAL ESTATE, INC.
Investment Insights
Based on property information with market context.
Key Highlights
- Functional office/warehouse blend suitable for various businesses.
- Renovated office spaces featuring multiple offices, reception area, conference room, kitchenette, and ADA bathrooms.
- Convenient warehouse access for loading and operations.
Local Financial Insights For Flex RnD
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 | $53.8k | $18.00 |
| − Vacancy | −$5.4k | −$1.80 |
| EGI | $48.4k | $16.20 |
| − OpEx | −$17.0k | −$5.67 |
| NOI | $31.5k | $10.53 |
2,990 SF · lease $18.00/SF/yr · vacancy 10.00% · expense 35.00%
Alternative Uses
Best Use
Flex RnD
$449.8K
$393.6K – $524.8K
NOI $31,485 @ 7.0% cap · market cap 5.26%
Second Best
Warehouse
$257.9K
$225.7K – $300.9K
NOI $18,055 @ 7.0% cap · market cap 3.01%
Theoretical Best
Office A
$811.9K
$710.4K – $947.2K
NOI $56,834 @ 7.0% cap · market cap 9.49%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Jon's Alignment
Auto Repair Shop
Platinum Sky Construction
Construction Company
Similar For Sale Nearby
FAQs
Where is this flex space located?
The property is located at 3831 Thomas Road #A Santa Fe, NM.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Functional office/warehouse blend suitable for various businesses.; Renovated office spaces featuring multiple offices, reception area, conference room, kitchenette, and ADA bathrooms.; Convenient warehouse access for loading and operations.
