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    Downtown Santa Fe Office Space Title is generated by Realmo AI

    607 Cerrillos Road, Santa Fe, NM 87505

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    For Lease
    $2,133/Mo $16 SF/Yr (calc)

    COMMERCIAL - Santa Fe, NM

    Type:Office
    Property size:
    1,600 SF
    Lot size:
    0.46 Acres
    Added:
    Mar 27, 2024
    Days on Market:
    783
    Last Refresh:
    May 18 at 9:06 pm

    Property Features for 607 Cerrillos Road

    General Information

    Property type
    Commercial Lease
    Property subtype
    Office
    Zoning
    C-1
    Parking features
    Parking Lot
    Accessibility
    Accessible Approach with Ramp
    Standard status
    Active
    APN
    10472399
    Size
    1,600 SF
    Lot size
    0.46 Acres

    Taxes and HOA fees

    Tax Description
    LOT 8 BLK 10 & LOT 10 RD, LOT 9 BLK 10 601 CERRILLOS T17N R 9E S25

    Utilities

    Sewer type
    Public Sewer
    Water source
    Public

    Building Details

    Year built
    1995
    Flooring type
    Carpet
    Building materials
    Adobe
    Roof type
    Flat

    We can help!

    Listing Contact
    Brant Goodman

    Listing agent Brant Goodman License #16424

    Listing office Landseer Management 613 Old Santa Fe Trail, Santa Fe, NM

    Listing date Mar 27, 2024

    MLS# 202401029

    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.

    HighLights

    • Prime downtown Santa Fe location at 607 Cerrillos Rd Unit D‑2.
    • Spacious 1,600 sq ft office space suitable for various business needs.
    • Convenient elevator access to the upstairs unit.
    • Proximity to transportation: walking distance to Santa Fe Depot Rail Runner Station and Cerrillos @ Paseo De Peralta IB bus station.
    • Practical open floor plan and included kitchenette.
    • Close to amenities: under half a mile from Whole Foods Market and near Santa Fe Railyard Park.

    Overview

    Located in the heart of downtown Santa Fe, this 1,600 square foot office space is available for rent. The upstairs unit is accessible by elevator. The interiors feature an open floor plan suitable for cubicles and collaborative work. A kitchenette is included. The property is near the Santa Fe Depot Rail Runner Station and the Cerrillos @ Paseo De Peralta IB bus station. Whole Foods Market is under half a mile away, and the Santa Fe Railyard Park is also nearby. The property is located at 607 Cerrillos Rd in Santa Fe. The location is suited for businesses aiming to thrive in a dynamic environment. The property sits on a lot of 0.46 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Trust For Public Land Charitable Organization Apple Construction LLC. Construction Company 2030 Inc Charitable Organization Virginia Henry, Santa ... Real Estate Agency cjh Real Estate Real Estate Agency

    Suggested Use

    Dental Office Restaurant Real Estate Agency Law Firm Spa & Massage Center Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Santa Fe
    County
    Santa Fe
    State
    New Mexico
    Longitude
    -105.946171
    Latitude
    35.6810339

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    FAQs

    What type of property is this?
    Office units - Spacious 1,600 sq ft office in vibrant downtown Santa Fe.
    Where is this office units located?
    The property is located at 607 Cerrillos Road Santa Fe, NM.
    What is the lease rate?
    The lease rate is $2,133 /Mo.
    What are key features of this property?
    This property features: Prime downtown Santa Fe location at 607 Cerrillos Rd Unit D‑2.; Spacious 1,600 sq ft office space suitable for various business needs.; Convenient elevator access to the upstairs unit.
    (505) 690-7311
    We can help!
    Listing Contact
    Brant Goodman
    Real Estate License ID: 16424
    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.

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