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    1005 St Francis Dr Santa Fe, NM 87505

    Sponsored
    For Sale
    $3,300,000

    Prime Santa Fe location, high traffic, redevelopment potential.

    Property size:
    5,051 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional commercial condominium opportunity in Santa Fe, New Mexico, presents a unique blend of existing income and significant redevelopment potential. The property, located at 1005 S St Francis Dr, encompasses a 5,051 square foot, 100% occupied restaurant building (Condominium Unit A) with an additional 1,100 square foot interior patio. This building sits on a 26,427 square foot lot (Parcel C and a triangular parcel), offering substantial excess land for development. The property is part of the Crossroads Center, a high-traffic location at the intersection of St Francis Drive and Cerillos Road, boasting approximately 60,000 vehicles per day. The surrounding area features a dense concentration of national retailers, including Whole Foods, Trader Joes, Walgreens, and CVS. The property is zoned BCD (Cerrillos Subdistrict), permitting a wide range of commercial uses, including retail, banking, restaurants (including drive-thrus and QSR), hospitality, and office space. Residential use is prohibited under condominium rules. The maximum building height is 45 feet. The offering includes the existing condominium unit and associated reserved development rights (RDRs) for Parcel C, which can be converted into up to six additional condominium units upon substantial completion of construction. The Parcel C RDR expires June 25, 2025. Additionally, a 50% undivided interest in the Parcel B RDR is included

    Property Features for 1005 St Francis Dr

    General Information

    Property type
    Restaurants
    Square Feet
    5,051 SF
    Class
    B

    Building Details

    Buildings
    1
    Stories
    1

    HighLights

    • 5,051 SF restaurant building (Condo Unit A), 100% occupied, plus 1,100 SF patio.
    • 26,427 SF land parcel (Parcel C & triangular parcel).
    • Includes existing condo unit and reserved development rights (RDRs) for up to six additional condo units; Parcel C RDR expires June 25, 2025.
    • High‑traffic corner location (60,000 VPD) at St. Francis & Cerillos Rd intersection.
    • Dense commercial area near Whole Foods, Trader Joe's, Walgreens, and CVS.
    • BCD (Cerrillos Subdistrict) zoning allows retail, banking, restaurants (including drive‑thrus and QSRs), hospitality, and office uses; residential prohibited.
    Property Profile Location Intelligence

    Current Use by Public Records

    Isalis Gift Shop Party City Party Store Skunk Funk Wholesaler Carl's Trading Co Hat Shop Bushka's Kitchen LLC Outdoor Clothing And Equipment Shop

    Suggested Use

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

    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
    -105.95281830585
    Latitude
    35.677616611753

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    FAQs

    What type of property is this?
    Restaurant - Prime Santa Fe location, high traffic, redevelopment potential.
    Where is this restaurant located?
    The property is located at 1005 St Francis Dr Santa Fe, NM.
    What is the asking price?
    The asking price for this property is $3,300,000.
    What are key features of this property?
    This property features: 5,051 SF restaurant building (Condo Unit A), 100% occupied, plus 1,100 SF patio.; 26,427 SF land parcel (Parcel C & triangular parcel).; Includes existing condo unit and reserved development rights (RDRs) for up to six additional condo units; Parcel C RDR expires June 25, 2025.
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    Realmo Value Estimation

    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.

    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.

    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
    1005 St Francis Dr Santa Fe, NM 87505
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