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Santa Fe Railyard Apartments

920 Shoofly Santa Fe, NM 87505

920 Shoofly, Santa Fe, NM, 87505

$6,300,000

For Sale

$6,300,000

New 18-unit apartment complex in Santa Fe Railyard.

Property Size15,995 SF

Lot Size0.65 Acres

Price / SF$393.87

AddedJan 15

Days on Market181

Last RefreshApr 5 at 8:18 pm

Property Features for 920 Shoofly

General Information

Standard status: Active
Size: 15,995 SF
Lot size: 0.65 Acres
Property subtype: Commercial

Building Details

Year Built: 2023

Listing office SF BROWN REAL ESTATE

Listing date Jan 15, 2026

Source Corcoran

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

All listing content including descriptions, pricing, images are the copyrighted material of SF BROWN REAL ESTATE

Investment Insights

Based on property information with market context.

This newly constructed multifamily apartment complex, known as Shoofly Station, is located in the heart of the Santa Fe Baca Railyard. Completed in 2023, this residential community features 18 apartments with a mix of one and two-bedroom units. The property blends contemporary architecture with the industrial spirit of the surrounding Railyard neighborhood. Residents have premier access to the Santa Fe River Trail, local gyms, restaurants, and retail shops. The property is located across the street from the South Capitol Railrunner Train Stop. The complex sits on a Land Lease with the Santa Fe Railyard Community Corporation and is subject to their HOA dues and community guidelines. The property size is 15,995 square feet.

Key Highlights

Newly constructed in 2023, offering modern apartments
Located in the heart of the Santa Fe Railyard, providing premier access to amenities
Mixture of one and two bedroom units available

Local Financial Insights For Apartment 5plus

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$416.5k	$26.04
− Vacancy	−$17.5k	−$1.09
EGI	$399.0k	$24.95
− OpEx	−$179.6k	−$11.23
NOI	$219.5k	$13.72

15,995 SF · lease $26.04/SF/yr · vacancy 4.20% · expense 45.00%

Alternative Uses

Best Use

Apartment 5plus

$3.14M

$2.74M – $3.66M (±1% cap)

NOI $219,459 @ 7.0% cap · market cap 3.48%

Second Best

—

no second resolved use

Theoretical Best

Office A

$4.34M

$3.80M – $5.07M (±1% cap)

NOI $304,033 @ 7.0% cap · market cap 4.83%

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

Property Analytics

Property Profile Location Intelligence

Current Use by Public Records

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Suggested Use

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For sale
Apartment buildings
NM
Santa Fe
87505
920 Shoofly

What type of property is this?

Apartment building - New 18-unit apartment complex in Santa Fe Railyard.

Where is this apartment building located?

The property is located at 920 Shoofly Santa Fe, NM.

What is the asking price?

The asking price for this property is $6,300,000.

What are key features of this property?

This property features: Newly constructed in 2023, offering modern apartments; Located in the heart of the Santa Fe Railyard, providing premier access to amenities; Mixture of one and two bedroom units available