Office Unit with
For Sale
Contact for pricing
501 Franklin Avenue #3, Santa Fe, NM 87501
An open-plan workspace includes dedicated storage and access to a shared break area.
Property Size800 SF
Price / SF$2.38
Days on Market238
Property Features for 501 Franklin Avenue #3
General Information
Standard status
Active
Size
800 SF
Property subtype
MixedUse
Additional Details
Condition
Newly Renovated
Road Access
Yes
Property Use
Office
Amenities
expansive mirrors
additional storage
common break area
Building Details
Year Built
1986
Listing Agency:
Sotheby's Int. RE - Railyard
(505) 982-9836
Listed By:
Cozette E. Hansen · License #49928
(505) 399-0538
Source:
1stclassrealtyofsantafe
Added: Mar 13
Changed: Nov 5
Last Checked: Nov 5 at 4:32AM
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 Sotheby's Int. RE - Railyard
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This office unit offers an open interior with mirrors and supplemental storage. Occupants also have access to a shared break area, and off-street parking is available. The building was renovated recently and dates to 1986.
The property fronts Agua Fría Street in Santa Fe.
The property fronts Agua Fría Street in Santa Fe.
Key Highlights
- Open‑plan office layout with mirrors and additional storage
- Shared break area and off‑street parking
- Street frontage on Agua Fría Street
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,016
Suggested Prices Based on Cap Rates
Cap Rate 5%
$220,320
$220.3K
Cap Rate 7%
$157,371
$157.4K
Cap Rate 9%
$122,400
$122.4K
Market Conditions
NOI Build-Up for 800 SF
Gross rent
$17.3K $21.60/SF
− Vacancy
−$2.6K −$3.24/SF
EGI
$14.7K $18.36/SF
− OpEx
−$3.7K −$4.59/SF
NOI
$11.0K $13.77/SF
Area
Santa Fe County, NM
Vacancy
15.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$220,320
Cap Rate 7%
$157,371
Cap Rate 9%
$122,400
Alternative Uses
Best Use
Office B
$157.4K
$137.7K – $183.6K
NOI $11,016 @ 7.0% cap · market cap 579.79%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$217.2K
$190.1K – $253.4K
NOI $15,206 @ 7.0% cap · market cap 800.32%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,542
Businesses Nearby
Explore this area
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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Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Office unit - An open-plan workspace includes dedicated storage and access to a shared break area.
Where is this office unit located?
The property is located at 501 Franklin Avenue #3 Santa Fe, NM.
What are key features of this property?
This property features: Open‑plan office layout with mirrors and additional storage; Shared break area and off‑street parking; Street frontage on Agua Fría Street
