Two-Building Retail Duplex
3908 Rodeo Road Santa Fe, NM 87507
For Sale
$435,000
Two buildings on two lots are sold together, including one retail storefront and one duplex, both needing TLC.
Property Size2,100 SF
Price / SF$207.14
Days on Market12
Property Features for 3908 Rodeo Road
General Information
- Standard status
- Active
- Size
- 2,100 SF
- Property subtype
- Retail
Building Details
- Year Built
- 1940
Listing Agency:
(505) 220-9422
Listed By:
Vista Real Estate Solutions
(505) 220-9422
Source:
Xome
Added: Jul 15
Changed: Jul 19
Last Checked: Jul 26 at 3:03AM
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 Vista Real Estate Solutions
Investment Insights
Based on property information with market context.
This two-building property is being sold together on two lots. One building was previously used as a dress shop, and the second building is configured as a duplex. Both structures are in need of some TLC, offering a renovation opportunity for an investor, contractor, or owner-occupant looking to add improvements.
The property is located at 3908 Rodeo Road in Santa Fe, NM, and is offered as a combined package with the adjacent lot at 3920 Rodeo.
With two separate buildings under one sale, the configuration provides flexibility for buyers interested in renovation and reuse after updates.
The property is located at 3908 Rodeo Road in Santa Fe, NM, and is offered as a combined package with the adjacent lot at 3920 Rodeo.
With two separate buildings under one sale, the configuration provides flexibility for buyers interested in renovation and reuse after updates.
Key Highlights
- Two buildings sold together on two lots: 3908 and 3920 Rodeo
- One building is a duplex configuration
- One building was previously used as a retail dress shop/storefront
Financial Insights For Multifamily LT 5
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 | $46.6k | $22.20 |
| − Vacancy | −$2.1k | −$1.00 |
| EGI | $44.5k | $21.20 |
| − OpEx | −$13.4k | −$6.36 |
| NOI | $31.2k | $14.84 |
2,100 SF · lease $22.20/SF/yr · vacancy 4.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$445.2K
$389.6K – $519.4K
NOI $31,165 @ 7.0% cap · market cap 7.16%
Second Best
Apartment 5plus
$411.6K
$360.2K – $480.2K
NOI $28,813 @ 7.0% cap · market cap 6.62%
Theoretical Best
Office A
$570.2K
$499.0K – $665.3K
NOI $39,917 @ 7.0% cap · market cap 9.18%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Storefront properties
Similar Off Market Nearby
- Albertsons Floral — 3542 Zafarano Dr, Santa Fe, NM 87507
- Sam's Club Floral — 4201 Rodeo Rd, Santa Fe, NM 87507
- Art In Intuitive Concepts — 2314 Cam Del Prado, Santa Fe, NM 87507, United States
FAQs
What type of property is this?
Storefront property - Two buildings on two lots are sold together, including one retail storefront and one duplex, both needing TLC.
Where is this storefront property located?
The property is located at 3908 Rodeo Road Santa Fe, NM.
What is the asking price?
The asking price for this property is $435,000.
What are key features of this property?
This property features: Two buildings sold together on two lots: 3908 and 3920 Rodeo; One building is a duplex configuration; One building was previously used as a retail dress shop/storefront
