Freestanding Retail Building with
647 Cerrillos Road Santa Fe, NM 87501
647 Cerrillos Road, Santa Fe, NM, 87501
$930,000
For Sale
$930,000
SINGLE_FAMILY - Santa Fe, NM
Property Size2,746 SF
Lot Size0.15 Acres
Price / SF$338.67
Days on Market102
Property Features for 647 Cerrillos Road
General Information
- Property type
- Residential
- Property subtype
- Retail
- Zoning
- BCD
- Standard status
- Active
- APN
- 12812672
- Size
- 2,746 SF
- Lot size
- 0.15 Acres
Taxes and HOA fees
- Tax Description
- per binder
Utilities
- Sewer type
- Public Sewer
- Water source
- Public
Building Details
- Year built
- 1967
Listing Agency
Real Estate Advisors, LLC
(505) 539-3200
1227 Paseo de Peralta, Albuquerque, NM
Listed by
Tai Bixby · License #40315
(505) 577-3524
Added: Apr 8 Checked: Jul 18 at 12:06 am
MLS# 202601461
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.
Investment Insights
Based on property information with market context.
This freestanding commercial building contains approximately 2,746 square feet and was built in 1967. The property sits on an approximately 0.156-acre lot with 9 paved on-site parking spaces and strong street visibility. It was previously used as a dry cleaner, and the owner has addressed prior dry cleaning chemical impacts through a Voluntary Remediation Agreement with the New Mexico Environment Department, with a Certificate of Compliance anticipated in Summer 2026.
The property is located on Cerrillos Road, described as one of Santa Fe’s highest-traffic corridors. The immediate area includes Whole Foods and nearby dining and retail, along with Sage Hotel, with the Santa Fe Railyard located just blocks away.
Zoned BCD (Business Capital District), the property is described as permitting a wide range of uses including restaurant, cafe, retail, office, personal services, medical, educational, and residential.
The property is located on Cerrillos Road, described as one of Santa Fe’s highest-traffic corridors. The immediate area includes Whole Foods and nearby dining and retail, along with Sage Hotel, with the Santa Fe Railyard located just blocks away.
Zoned BCD (Business Capital District), the property is described as permitting a wide range of uses including restaurant, cafe, retail, office, personal services, medical, educational, and residential.
Key Highlights
- +/-2,746 SF freestanding commercial building on Cerrillos Rd near Santa Fe Railyard
- +/-0.156‑acre lot with 9 paved on‑site parking spaces and street visibility
- Built in 1967; formerly La Unica Dry Cleaners
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $54.4k | $19.80 |
| − Vacancy | −$4.6k | −$1.68 |
| EGI | $49.7k | $18.12 |
| − OpEx | −$14.9k | −$5.44 |
| NOI | $34.8k | $12.68 |
2,746 SF · lease $19.80/SF/yr · vacancy 8.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$497.5K
$435.3K – $580.4K
NOI $34,824 @ 7.0% cap · market cap 3.74%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$745.7K
$652.5K – $869.9K
NOI $52,196 @ 7.0% cap · market cap 5.61%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
La Unica Dry ...
(Bike/Boat/Book/etc) Store
Similar For Sale Nearby
Similar Off Market Nearby
- Oldies Flower Co. — 1424 Paseo De Peralta, Santa Fe, NM 87501
FAQs
What type of property is this?
Storefront property - Freestanding retail building with 9 on-site paved parking spaces on Cerrillos Road in Business Capital District zoning.
Where is this storefront property located?
The property is located at 647 Cerrillos Road Santa Fe, NM.
What is the asking price?
The asking price for this property is $930,000.
What are key features of this property?
This property features: +/-2,746 SF freestanding commercial building on Cerrillos Rd near Santa Fe Railyard; +/-0.156‑acre lot with 9 paved on‑site parking spaces and street visibility; Built in 1967; formerly La Unica Dry Cleaners
