Quadplex with Gas
For Sale
$899,000
4301 Calle Andrew, Santa Fe, NM 87507
Fully leased quadplex with four residential units, private yards, and off-street parking.
Property Size4,032 SF
Price / SF$222.97
Days on Market50
Property Features for 4301 Calle Andrew
General Information
Standard status
Active
Size
4,032 SF
Property subtype
Multi-Family
Building Details
Year Built
1994
Listing Agency:
Homewise, Inc
(505) 594-9586
Listed By:
Brian Tercero
(505) 594-9586
Source:
Mrsantaferealestate
Added: Jul 13
Changed: Aug 29
Last Checked: Aug 30 at 4:16PM
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 Homewise, Inc
Investment Insights
Based on property information with market context.
Built in 1994, this 4032-square-foot quadplex contains four residential units, each with two bedrooms, two bathrooms, a gas fireplace, and a small yard. The property also provides off-street parking and functional floor plans suited to long-term residential occupancy.
All four units are currently leased, providing an in-place rental operation in Santa Fe. The property is located at 4301 Calle Andrew, Santa Fe, NM 87507, with the established unit configuration and existing tenancy already in place.
All four units are currently leased, providing an in-place rental operation in Santa Fe. The property is located at 4301 Calle Andrew, Santa Fe, NM 87507, with the established unit configuration and existing tenancy already in place.
Key Highlights
- Four units, each with two bedrooms and two bathrooms
- Each unit includes a gas fireplace and small yard
- Fully leased with established tenants
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$59,838
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.66%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,196,760
$1.2M
Cap Rate 7%
$854,829
$854.8K
Cap Rate 9%
$664,867
$664.9K
Market Conditions
NOI Build-Up for 4,032 SF
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.
Gross rent
$89.5K $22.20/SF
− Vacancy
−$4.0K −$1.00/SF
EGI
$85.5K $21.20/SF
− OpEx
−$25.6K −$6.36/SF
NOI
$59.8K $14.84/SF
Area
Santa Fe County, NM
Vacancy
4.50%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,196,760
Cap Rate 7%
$854,829
Cap Rate 9%
$664,867
Alternative Uses
Best Use
Multifamily LT 5
$854.8K
$748.0K – $997.3K
NOI $59,838 @ 7.0% cap · market cap 6.66%
Second Best
Apartment 5plus
$790.3K
$691.5K – $922.0K
NOI $55,321 @ 7.0% cap · market cap 6.15%
Theoretical Best
Office A
$1.09M
$958.0K – $1.28M
NOI $76,640 @ 7.0% cap · market cap 8.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
380
Businesses Nearby
Explore this area
Business Placement
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
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Fully leased quadplex with four residential units, private yards, and off-street parking.
Where is this quadplex located?
The property is located at 4301 Calle Andrew Santa Fe, NM.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Four units, each with two bedrooms and two bathrooms; Each unit includes a gas fireplace and small yard; Fully leased with established tenants
