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    539 Harkle #A Santa Fe, NM 87505

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    For Sale
    $499,000

    Commercial property with established wellness business near downtown Santa Fe.

    Type:Commercial
    Property size:
    1,417 SF
    Lot size:
    0.03 Acres
    Price / SF:
    $352/SF
    Added:
    Sep 30, 2025
    Days on Market:
    206
    Last Refresh:
    Apr 5 at 9:11 pm

    Property Features for 539 Harkle #A

    General Information

    Standard status
    Active
    Size
    1,417 SF
    Lot size
    0.03 Acres
    Property subtype
    Commercial

    Building Details

    Year Built
    1988

    We can help!

    Listing Contact
    LELAND TITUS

    Listing agent LELAND TITUS License #REC20220687

    Listing office SANTA FE REALTY UNLIMITED

    Listing date Sep 30, 2025

    Source Corcoran

    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 SANTA FE REALTY UNLIMITED

    Overview

    Santa Fe Wellness Business Opportunity

    This commercial property presents an exceptional opportunity to own real estate and a thriving wellness business. Located minutes from downtown Santa Fe and adjacent to CHRISTUS St. Vincent Hospital, the property includes the established Grey Matter Float Spa. The wellness center offers float therapy and infrared sauna services. The facility features four float rooms, a Sunlighten infrared sauna, and a spa-like atmosphere. The property has been fully renovated with a new roof, stucco, windows, HVAC, electrical panel, and water heater. It includes an advanced dehumidifier and filtration system, antimicrobial flooring, and updated plumbing designed for medical and wellness standards. The layout features five flexible-use rooms and one updated bathroom. The property offers excellent parking and easy access from St. Michael’s corridor. The business inclusions feature all float spa equipment, including four float tanks and a sauna, an extensive and loyal client list, a strong digital presence with top online reviews, and a professional website and booking system. There is room for expansion into other wellness services such as massage and skincare. The 1417 square foot property is ideal for wellness entrepreneurs, healthcare professionals, or investors.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Wolcott Susan L ... Dental Office Endodontics of New Mexico Dental Office Wolcott James F ... Dental Office Kellam Orthodontics Dental Office Kellam Orthodontics: Stephen ... Dental Office

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Big Box & Wholesale Store Dental Office Auto Repair Shop Spa & Massage Center Hair Salon Hotel & Motel

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Santiago Reina — 2074 Galisteo St STE A5, Santa Fe, NM 87505
    • Gibbs Kim — 2074 Galisteo St STE A2, Santa Fe, NM 87505
    • Pamela Gregg Flax — 2074 Galisteo St, Santa Fe, NM 87505
    • Full Well Acupuncture — 2074 Galisteo St STE B4, Santa Fe, NM 87505
    • Mendez Phillip — 2212 Brothers Rd, Santa Fe, NM 87505

    Location Insight

    • Map
    • Local Demand
    City
    Santa Fe
    County
    Santa Fe
    State
    New Mexico
    Longitude
    -105.95
    Latitude
    35.66

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    FAQs

    What type of property is this?
    Spa & wellness property - Commercial property with established wellness business near downtown Santa Fe.
    Where is this spa & wellness property located?
    The property is located at 539 Harkle #A Santa Fe, NM.
    What is the asking price?
    The asking price for this property is $499,000.
    What are key features of this property?
    This property features: Turnkey commercial property with established and highly‑rated wellness business included.; Prime location in a desirable professional corridor, minutes from downtown and adjacent to CHRISTUS St. Vincent Hospital.; Fully renovated property with new roof, stucco, windows, HVAC, electrical panel, and water heater.
    (505) 467-8829
    We can help!
    Listing Contact
    LELAND TITUS
    Real Estate License ID: REC20220687
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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