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    Paseo Real Santa Fe, NM 87507

    • Land
    • 70.70 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 0 Paseo Real

    Lot size
    70.70 lot acres
    Property type
    Land
    Property subtype
    Industrial properties

    Description

    This exceptional 70.7-acre industrial land parcel presents a rare opportunity in Santa Fe, New Mexico. Strategically located near the intersection of Airport Road and Highway 599, this I-1 zoned property offers unparalleled access to major transportation arteries, including easy connection to I-25. The site borders Paseo Real, placing it directly across from the Santa Fe Airport, ensuring convenient air travel access. The property's zoning, I-1 (Industrial/City of Santa Fe), allows for a wide range of industrial uses. Utilities are available along Paseo Real, subject to provider approval. The location benefits from the proximity of existing sand, gravel, and asphalt operations, potentially creating synergistic opportunities. This expansive tract is priced at $4.50 per square foot, or $196,020 per acre. Given its size and prime location, the seller will consider subdividing the property to accommodate specific buyer needs. This presents a unique chance to acquire a substantial industrial land holding in a thriving New Mexico market with excellent connectivity to Albuquerque, Los Alamos, and other Northern New Mexico regions. The property's address is Paseo Real, Santa Fe, NM 87507, within Santa Fe County.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Santa Fe
    County
    Santa Fe
    State
    New Mexico
    Longitude
    -106.112
    Latitude
    35.5896

    Comparable in this City

    • Value Estimation by Request
      1,156,518 SF

      Paseo De River St

      Land • 1,156,518 SF
      0 Paseo De River St, Santa Fe, NM 87507
      View Details
    • Value Estimation by Request
      2.50 Acres

      17 Paseo De River St

      Land • 2.50 Acres
      17 Paseo De River St, Santa Fe, NM 87507
      View Details
    • Value Estimation by Request
      4.59 Acres

      Tract 3 Hernandez Rd

      Land • 4.59 Acres
      Tract 3 Hernandez Rd, Santa Fe, NM 87507
      View Details
    • Value Estimation by Request
      0.88 Acres

      Cerrillos & Beckner Rds

      Land • 0.88 Acres
      0 Cerrillos & Beckner Rds, Santa Fe, NM 87507
      View Details
    • Value Estimation by Request

      Cerrillos Rd

      Land
      0 Cerrillos Rd, Santa Fe, NM 87507
      View Details
    • Value Estimation by Request
      2.50 Acres

      Cerrillos Rd

      Retail properties • 9,000 SF
      0 Cerrillos Rd, Santa Fe, NM 87507
      View Details

    Similar Nearby for Sale

    • $1,698,000
      4.59 Acres

      Santa Fe Industrial Land Tract

      4.59-Acre Industrial Lot, $1.7M
      Tract 3 Hernandez Rd, Santa Fe, NM 87507
      View Details
    • $1,075,000
      1.96 Acres

      Enclosed Industrial Site in Santa Fe

      Walled industrial site with central location and good access.
      1281 Clark Rd, Santa Fe, NM 87507
      View Details
    • $1,663,556

      Santa Fe Commercial Land - $1.6M

      ±2.5 Acres, High-Visibility Location
      0 Cerrillos Rd, Santa Fe, NM 87507
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    • Contact for pricing

      Land on Airport Road

      Land with high visibility and traffic count on Airport Road.
      6350 Airport Rd, Santa Fe, NM 87507
      View Details
    • $2,156,000
      5.39 Acres

      Santa Fe Commercial Land Tract 2

      5.39 Acres, Prime Commercial Location
      Tract 2 Hernandez Rd, Santa Fe, NM 87507
      View Details
    • $1,443,000
      1.44 Acres

      Santa Fe Pad Site: Cerrillos Road

      Prime 1.44-acre commercial pad site in Santa Fe, NM. High visibility, excellent access.
      6581 Cerrillos Rd, Santa Fe, NM 87507
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      44,431 SF

      Santa Fe Commercial Land Opportunity

      ±1.02 Acres, High-Traffic Retail Location
      4318 Cerrillos Rd, Santa Fe, NM 87507
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    • Contact for pricing
      9,000 SF

      Cerrillos Road Commercial Land

      2.5 Acres, High-Visibility Retail
      0 Cerrillos Rd, Santa Fe, NM 87507
      View Details
    • Contact for pricing
      938,282 SF

      Santa Fe Commercial Land Opportunity

      Prime Hwy 599 Bypass Pad Site
      0 Hwy 599 Byp, Santa Fe, NM 87507
      View Details
    • Contact for pricing

      Land for Rent Santa Fe

      Land available for rent at 88 Avenida Aldea, Santa Fe.
      88 Avenida Aldea, Santa Fe, NM 87507
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    • $14 SF/Yr
      8,100 SF

      Santa Fe Industrial Building For Sale

      8,100 SF Mixed-Use Industrial Property
      2891 Cooks Rd, Santa Fe, NM 87507
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    • $14 SF/Yr
      2,528 SF

      Industrial Space Available For Lease

      2,528 SF industrial property available for lease.
      9 Plaza La Prensa, Santa Fe, NM 87507
      View Details
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    Paseo Real
    Santa Fe, NM 87507
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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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