Two-Building Retail
For Sale
$7,000,000
4056 Cerrillos Road, Santa Fe, NM 87507
Dollar Tree anchors a center with ground-floor shops and second-floor office and flex suites.
Property Size43,739 SF
Lot Size3.81 Acres
Price / SF$160.04
Days on Market61
Property Features for 4056 Cerrillos Road
General Information
Standard status
Active
Size
43,739 SF
Total Parking Spaces
205
Lot size
3.81 Acres
Property subtype
Retail
Zoning
C-2
Site & Location
Corner Location
Yes
Anchor Co-Tenants
Dollar Tree
Road Access
Yes
Mixed-Use Components
retail, office, restaurant
Additional Details
Tenant in Place
Yes
Building Details
Building Size
43,739 SF
Year Built
1994
Buildings
2
Construction
Santa Fe style
Tenancy
Multi
Listing Agency:
Real Estate Advisors, LLC
Listed By:
Tai Bixby · License #40315
(505) 577-3524
Source:
Nmrootsrealestate
Added: Aug 31
Changed: Oct 30
Last Checked: Oct 30 at 2:08AM
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 Real Estate Advisors, LLC
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Investment Insights
Based on property information with market context.
This 43,739-square-foot community retail center comprises two buildings on 3.8120 acres. The main structure has two levels, with retail and service businesses at ground level and office and flex suites above. A passenger elevator and two exterior stairways serve the upper floor. A separate 8,454-square-foot restaurant and brewery building occupies the southern part of the property. The center was built in 1994 and has a 205-space surface parking lot. C-2 Community Commercial zoning applies; the property is a legal non-conforming use as to parking.
The site is at the northeast corner of Cerrillos Road and Rodeo Road, next to Santa Fe Place Mall, with curb cuts on both roads. Reported daily traffic is 32,818 vehicles on Cerrillos Road and 22,228 on Rodeo Road. Dollar Tree is the anchor tenant, with additional tenants including T-Mobile, OneMain Financial, Baskin Robbins, and Hidden Mountain Brewing.
The property is in foreclosure and receivership, and the sale requires court and receiver approval. The seller has limited knowledge of recent operations and physical condition; buyers should conduct their own due diligence.
The site is at the northeast corner of Cerrillos Road and Rodeo Road, next to Santa Fe Place Mall, with curb cuts on both roads. Reported daily traffic is 32,818 vehicles on Cerrillos Road and 22,228 on Rodeo Road. Dollar Tree is the anchor tenant, with additional tenants including T-Mobile, OneMain Financial, Baskin Robbins, and Hidden Mountain Brewing.
The property is in foreclosure and receivership, and the sale requires court and receiver approval. The seller has limited knowledge of recent operations and physical condition; buyers should conduct their own due diligence.
Key Highlights
- 43,739‑square‑foot community retail center on 3.8120 acres
- Two buildings include a two‑story retail, office, and flex center plus an 8,454‑square‑foot restaurant and brewery building
- 205‑space surface parking lot; C‑2 Community Commercial zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$554,694
Cap Rate
7.92%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$11,093,880
$11.1M
Cap Rate 7%
$7,924,200
$7.9M
Cap Rate 9%
$6,163,267
$6.2M
Market Conditions
NOI Build-Up for 43,739 SF
Gross rent
$866.0K $19.80/SF
− Vacancy
−$73.6K −$1.68/SF
EGI
$792.4K $18.12/SF
− OpEx
−$237.7K −$5.44/SF
NOI
$554.7K $12.68/SF
Area
Santa Fe County, NM
Vacancy
8.50%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$11,093,880
Cap Rate 7%
$7,924,200
Cap Rate 9%
$6,163,267
Alternative Uses
Best Use
Retail
$7.92M
$6.93M – $9.24M
NOI $554,694 @ 7.0% cap · market cap 7.92%
Second Best
Mixed Use
$5.81M
$5.09M – $6.78M
NOI $406,986 @ 7.0% cap · market cap 5.81%
Theoretical Best
Office A
$11.88M
$10.39M – $13.86M
NOI $831,391 @ 7.0% cap · market cap 11.88%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,153
Businesses Nearby
831k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 29%
Dining 23%
Apparel 16%
Superstores 12%
Sam's Club
Superstores
102,489 visits/mo
0.4 miles
T.J. Maxx
Apparel
47,318 visits/mo
0.3 miles
Lowe's
Home Improvements & Furnishings
35,939 visits/mo
0.3 miles
Hobby Lobby
Shops & Services
35,793 visits/mo
0.3 miles
Dillard's
Apparel
34,820 visits/mo
0.2 miles
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in West region
Similar Off Market Nearby
- Coin Cloud Bitcoin ATM — 4680 Airport Rd, Santa Fe, NM 87507
- Sunglass Hut — 4250 Cerrillos Rd, Santa Fe, NM 87507
- Rice Village Express — 4250 Cerrillos Rd, Santa Fe, NM 87507
- Santa Fe Place Mall — 4250 Cerrillos Rd, Santa Fe, NM 87507
- Africway — 4250 Cerrillos Rd, Santa Fe, NM 87507
Frequently Asked Questions
What type of property is this?
Shopping center - Dollar Tree anchors a center with ground-floor shops and second-floor office and flex suites.
Where is this shopping center located?
The property is located at 4056 Cerrillos Road Santa Fe, NM.
What is the asking price?
The asking price for this property is $7,000,000.
What are key features of this property?
This property features: 43,739‑square‑foot community retail center on 3.8120 acres; Two buildings include a two‑story retail, office, and flex center plus an 8,454‑square‑foot restaurant and brewery building; 205‑space surface parking lot; C‑2 Community Commercial zoning
