13-Unit Historic Apartment
410 Bishops Lodge Rd, Santa Fe, NM 87501
For Sale
New
$4,950,000
ResidentialIncome, Santa Fe, NM
Property Size11,919 SF
Price / SF$415.30
Days on Market2
Property Features for 410 Bishops Lodge Rd
General Information
Property type
Property subtype
Zoning
Zoning description
Bedrooms
Full bathrooms
Rooms
Interior features
Elementary school
Middle school
High school
Directions
Standard status
APN
Size
Taxes and HOA fees
Tax Year
Tax Description
Tax Annual Amount
Legal Description
Utilities
Sewer type
Heating system
Water source
Building Details
Year built
Floors in Building
Number of units
Building materials
Architectural style
Listing Agency:
Keller Williams Realty
(505) 983-5151
Listed By:
Renee Edwards · License NM #16857
(505) 470-7773
Added: Nov 12
Last Checked: Nov 13 at 5:06AM
MLS# 202604639
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.
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Investment Insights
Based on property information with market context.
This 13-unit apartment property totals 11,919 square feet and was built in 1959. The unit mix comprises five two-bedroom units, five one-bedroom units, one three-bedroom unit, and two efficiencies. Interior features include no interior steps, with frame construction and natural gas baseboard and hot-water heating. Public water and sewer serve the property.
The property is located at 410 Bishops Lodge Rd in Santa Fe, within the Historic Eastside and 0.25 miles from the Plaza. Its zoning is identified as Historic.
The property is located at 410 Bishops Lodge Rd in Santa Fe, within the Historic Eastside and 0.25 miles from the Plaza. Its zoning is identified as Historic.
Key Highlights
- 13 units totaling 11,919 square feet
- Unit mix: 5 two‑bedroom, 5 one‑bedroom, 1 three‑bedroom, and 2 efficiencies
- Located 0.25 miles from the Plaza in Santa Fe’s Historic Eastside
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$163,534
Cap Rate
3.30%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,270,680
$3.3M
Cap Rate 7%
$2,336,200
$2.3M
Cap Rate 9%
$1,817,044
$1.8M
Market Conditions
NOI Build-Up for 11,919 SF
Gross rent
$310.4K $26.04/SF
− Vacancy
−$13.0K −$1.09/SF
EGI
$297.3K $24.95/SF
− OpEx
−$133.8K −$11.23/SF
NOI
$163.5K $13.72/SF
Area
Santa Fe County, NM
Vacancy
4.20%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,270,680
Cap Rate 7%
$2,336,200
Cap Rate 9%
$1,817,044
Alternative Uses
Best Use
Apartment 5plus
$2.34M
$2.04M – $2.73M
NOI $163,534 @ 7.0% cap · market cap 3.30%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.24M
$2.83M – $3.78M
NOI $226,556 @ 7.0% cap · market cap 4.58%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
13
Residential units
Location Intelligence
Trade Area within ½ mile
3,429
Businesses Nearby
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Business Placement
Demographics for 87501, NM
15,116
Population
10,480
Households
1.4
Avg Household Size
58
Median Age
61%
College-Educated
97%
High-School Grad
50.6 sq mi
ZIP Area
299
Density / Sq Mi
$81,229
Median Household Income
$52,851
Median Earnings
$1,516
Median Rent
$649,100
Median Home Value
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Market
Average Price Trend$/SF for Apartment buildings in Santa Fe County, NM
Properties on Market for Apartment buildings in Santa Fe County
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - A varied residential mix includes efficiency, one-bedroom, two-bedroom, and three-bedroom homes.
Where is this apartment building located?
The property is located at 410 Bishops Lodge Rd Santa Fe, NM.
What is the asking price?
The asking price for this property is $4,950,000.
What are key features of this property?
This property features: 13 units totaling 11,919 square feet; Unit mix: 5 two‑bedroom, 5 one‑bedroom, 1 three‑bedroom, and 2 efficiencies; Located 0.25 miles from the Plaza in Santa Fe’s Historic Eastside
