Mixed-Use Property with
New
For Sale
$625,000
500 Camino Solano, Santa Fe, NM 87505
Residential, Santa Fe, NM
Property Size4,424 SF
Lot Size0.18 Acres
Price / SF$141.27
Days on Market3
Property Features for 500 Camino Solano
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
R-1, 2, 3, 4, 5, 6
Interior features
InteriorSteps
Elementary school
Aspen
Middle school
Aspen Community Magnet School K-8
High school
Santa Fe
Directions
From downtown, southwest on Agua Fria St., left on Camino Solano.
Standard status
Active
APN
012612992
Size
4,424 SF
Lot size
0.18 Acres
Additional Details
Mixed-Use Components
residential, retail
Taxes and HOA fees
Tax Description
LOT 15 & N 10 FT LOT 14, BLK 1, SOLANO-CASTELLANO S/D, S27 T17N R9E
Legal Description
LOT 15 & N 10 FT LOT 14, BLK 1, SOLANO-CASTELLANO S/D, S27 T17N R9E
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Hot Water(Heating), Baseboard
Water source
Public
Building Details
Year built
1983
Floors in Building
2
Flooring type
Laminate, Tile
Building materials
Block, Frame, Stucco
Roof type
Shingle, Metal
Architectural style
Other
Buildings
1
Listing Agency:
Keller Williams Realty
(505) 983-5151
Listed By:
David Garcia · License #50593
(505) 231-2789
Added: Nov 3
Last Checked: Nov 5 at 1:06PM
MLS# 202604370
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 two-level mixed-use property contains an upper residence with three bedrooms and two bathrooms, plus a lower one-bedroom, one-bathroom apartment and a separate salon area. Salon fixtures include three wash stations and two cutting stations, with storage and a waiting area. The two levels have separate entrances and parking access. The property was built in 1983 and has public water and sewer service. Its zoning is listed as R-1, 2, 3, 4, 5, 6.
Key Highlights
- Upper residence has 3 bedrooms and 2 bathrooms
- Lower level includes a 1‑bedroom, 1‑bathroom apartment and salon space
- Salon area has 3 wash stations and 2 cutting stations
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$41,165
Cap Rate
6.59%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$823,300
$823.3K
Cap Rate 7%
$588,071
$588.1K
Cap Rate 9%
$457,389
$457.4K
Market Conditions
NOI Build-Up for 4,424 SF
Gross rent
$71.7K $16.20/SF
− Vacancy
−$5.8K −$1.31/SF
EGI
$65.9K $14.89/SF
− OpEx
−$24.7K −$5.58/SF
NOI
$41.2K $9.30/SF
Area
Santa Fe County, NM
Vacancy
8.10%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$823,300
Cap Rate 7%
$588,071
Cap Rate 9%
$457,389
Alternative Uses
Best Use
Office B
$870.3K
$761.5K – $1.02M
NOI $60,918 @ 7.0% cap · market cap 9.75%
Second Best
Apartment 5plus
$867.1K
$758.7K – $1.01M
NOI $60,699 @ 7.0% cap · market cap 9.71%
Theoretical Best
Office A
$1.20M
$1.05M – $1.40M
NOI $84,091 @ 7.0% cap · market cap 13.45%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
394
Businesses Nearby
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Business Placement
Demographics for 87505, NM
32,078
Population
18,733
Households
1.7
Avg Household Size
52
Median Age
54%
College-Educated
94%
High-School Grad
65.1 sq mi
ZIP Area
493
Density / Sq Mi
$75,912
Median Household Income
$41,169
Median Earnings
$1,348
Median Rent
$484,100
Median Home Value
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Market
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Two separate entrances serve an upstairs residence and a lower-level apartment alongside dedicated salon space.
Where is this mixed-use property located?
The property is located at 500 Camino Solano Santa Fe, NM.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: Upper residence has 3 bedrooms and 2 bathrooms; Lower level includes a 1‑bedroom, 1‑bathroom apartment and salon space; Salon area has 3 wash stations and 2 cutting stations
