Santa Fe Redevelopment
400 Brunn School Road, Santa Fe, NM 87505
MULTI_FAMILY - Santa Fe, NM
Property size:
4,560 SFLot size:
2.16 AcresPrice / SF:
$218/SF- Added:
- Mar 2, 2026
- Days on Market:
- 89
- Last Refresh:
- May 30 at 11:06 pm
Property Features for 400 Brunn School Road
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- R-1, 2, 3, 4, 5, 6
- Parking
- 5
- Standard status
- Active
- APN
- 11320448
- Size
- 4,560 SF
- Lot size
- 2.16 Acres
Taxes and HOA fees
- Tax Description
- T17N R9E S35, TRACT B, 2.160 AC~
Utilities
- Sewer type
- Public Sewer
- Water source
- Well
Building Details
- Year built
- 1980
- Building materials
- Adobe, Frame
- Roof type
- Metal
Listing agent Tara P. Woodruff License #51489 (505) 382-1110
Listing office Keller Williams Realty 130 Lincoln Ave, Ste. K, Santa Fe, NM (505) 983-5151
Listing date Mar 2, 2026
MLS# 202600757
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.
HighLights
- Redevelopment opportunity zoned for up to 8 residential units, including 2 affordable.
- 2.16 acres in a high‑demand Santa Fe market.
- Existing structures include a 3,060 sq ft main building plus a 1,500 sq ft detached casita and studio.
- Potential for phased development, rental income, live/work configurations, or adaptive reuse.
- Existing improvements may reduce initial development costs.
- Suitable for various residential concepts: workforce housing, long‑term rentals, short‑term rentals (subject to approval), co‑housing, or mixed‑use.
Overview
Located at 400 Brunn School Rd in Santa Fe, NM, this property presents an exceptional redevelopment and income-producing opportunity. The site, spanning 2.16 acres, has a history of over 40 years as a school. The main building provides approximately 3,060 square feet of space, complemented by a detached casita and studio adding another 1,500 square feet. The property's zoning now permits up to 8 residential units, including 2 designated as affordable housing. This offers investors the chance to capitalize on multi-unit development potential in a high-demand Santa Fe market. Potential uses include workforce housing, long-term rental units, short-term rental concepts (subject to city approval), co-housing, creative campus-style living, or a mixed-use residential compound. The existing improvements may reduce initial development costs while allowing for strategic repositioning to maximize returns. The acreage supports thoughtful site planning, parking solutions, outdoor amenities, and expansion concepts. The property is ideal for developers, 1031 exchange buyers, or investors seeking diversification through multi-stream residential income.
Local Financial Insights For Apartment 5plus
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 | $118.7k | $26.04 |
| − Vacancy | −$5.0k | −$1.09 |
| EGI | $113.8k | $24.95 |
| − OpEx | −$51.2k | −$11.23 |
| NOI | $62.6k | $13.72 |
4,560 SF · lease $26.04/SF/yr · vacancy 4.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$893.8K
$782.1K – $1.04M
NOI $62,565 @ 7.0% cap · market cap 6.29%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.24M
$1.08M – $1.44M
NOI $86,676 @ 7.0% cap · market cap 8.71%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
The Tutorial School
Charitable Organization
Location Insight
- Map
- Local Demand
- City
- Santa Fe
- County
- Santa Fe
- State
- New Mexico
- Longitude
- -105.9509939
- Latitude
- 35.6543996
Nearby Similar for Sale
FAQs
What type of property is this?
School - 2.16 acres with redevelopment potential in Santa Fe, NM.
Where is this school located?
The property is located at 400 Brunn School Road Santa Fe, NM.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: Redevelopment opportunity zoned for up to 8 residential units, including 2 affordable.; 2.16 acres in a high‑demand Santa Fe market.; Existing structures include a 3,060 sq ft main building plus a 1,500 sq ft detached casita and studio.
