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    418 Cerrillos Rd Santa Fe, NM 87501

    Sponsored
    For Lease
    $22 SF/Yr

    Prime Santa Fe location, multiple units available.

    Lot size:
    2,193 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    406
    This exceptional commercial property, located at 418 Cerrillos Rd in Santa Fe, New Mexico, 87501, offers a unique blend of retail and office spaces. The property is situated in the vibrant Business Capital District (BCD) zoning area, providing excellent visibility and accessibility. Three distinct units are currently available, catering to a variety of business needs. On the lower level, a retail space (Unit C) totaling 805 square feet is available at a modified gross rent of $32.00 per square foot. The upper level presents two office/studio options. Unit 19 offers 350 square feet at a modified gross rent of $24.00 per square foot, while Units 26 & 27 combined provide a substantial 1,038 square feet at a modified gross rent of $22.00 per square foot. This diverse offering presents a compelling opportunity for businesses seeking high-traffic locations in the heart of Santa Fe. The property's central location and flexible space options make it an ideal investment for both established businesses and startups alike. The latitude and longitude coordinates are 35.6839405 and -105.9436419 respectively. Contact us today to learn more about this exciting opportunity.

    Property Features for 418 Cerrillos Rd

    General Information

    Property type
    Retail properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    2,193 SF

    Unit(s) available at that property

    Space
    Unit C
    Size
    805 SF
    Rate per SF
    $32
    Space
    Unit 19
    Size
    350 SF
    Rate per SF
    $24
    Space
    Units 26 & 27
    Size
    1,038 SF
    Rate per SF
    $22

    We can help!

    Listing Contact
    Joel Cumplido
    Joel Cumplido

    Learn more

    Property Insight Report

    HighLights

    • Three units available in Santa Fe's Business Capital District (BCD): 805 SF retail space (Unit C) at $32/SF MG, and two office/studio spaces (Unit 19: 350 SF at $24/SF MG; Units 26 & 27 combined: 1,038 SF at $22/SF MG).
    • Open and airy mall design.
    • Steps from the District Court House.
    • Prime location near the Railyard District, Downtown Santa Fe, and state buildings.
    • Strong tenant mix including Mexico Lindo, Pizza Centro, Yin Yang Restaurant, Cleopatra's Cafe, Revolution Bakery, antique shops, and professional offices.
    Property Profile Location Intelligence

    Current Use by Public Records

    General Fitness Gym Revolution Bakery | 100% ... Bakery Lieven Van Hulle Lighting Store Metalurgia Creativa US Metal Fabricator RAWORKS Bicycle Repair Shop

    Suggested Use

    Restaurant Realty agency Law Firm Dental Office Spa & Massage Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness

    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
    -105.9436419
    Latitude
    35.6839405

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    FAQs

    What type of property is this?
    Retail property - Prime Santa Fe location, multiple units available.
    Where is this retail property located?
    The property is located at 418 Cerrillos Rd Santa Fe, NM.
    What is the lease rate?
    The lease rate is $22-$32 SF/Yr.
    What are key features of this property?
    This property features: Three units available in Santa Fe's Business Capital District (BCD): 805 SF retail space (Unit C) at $32/SF MG, and two office/studio spaces (Unit 19: 350 SF at $24/SF MG; Units 26 & 27 combined: 1,038 SF at $22/SF MG).; Open and airy mall design.; Steps from the District Court House.
    Request Owner's contact information
    418 Cerrillos Rd Santa Fe, NM 87501
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    Santa Fe, NM 87501
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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
    418 Cerrillos Rd Santa Fe, NM 87501
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    We can help!
    Listing Contact
    Joel Cumplido
    Joel Cumplido
    Real Estate License ID: NM 51964
    Learn more
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