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Modern Railyard Apartments For Sale

920 Shoofly Street Santa Fe, NM 87505

920 Shoofly Street, Santa Fe, NM, 87505
$6,300,000
For Sale
Claim this Listing
$6,300,000

MULTI_FAMILY - Santa Fe, NM

Property Size15,995 SF
Lot Size0.65 Acres
Price / SF$393.87
AddedJan 14
Days on Market182
Last RefreshJul 15 at 4:06 am

Property Features for 920 Shoofly Street

General Information

Property type
Residential Multi Family
Property subtype
Other
Standard status
Active
APN
910021280
Size
15,995 SF
Lot size
0.65 Acres

Taxes and HOA fees

Tax Description
Santa Fe Railyard Community Corporation

Utilities

Sewer type
Public Sewer
Water source
Public

Building Details

Year built
2023
Flooring type
Laminate
Building materials
Frame
Roof type
Metal

Listing agent Alicia Bertram License #48316

Listing office SF Brown Real Estate 2905 Rodeo Park Drive E #4, Santa Fe, NM

Listing date Jan 14, 2026

MLS# 202600170

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 newly constructed multifamily apartment complex, known as Shoofly Station, is available for sale for the first time. Located in the heart of the Santa Fe Baca Railyard, this modern residential community features 18 thoughtfully designed apartments completed in 2023. The boutique property combines contemporary architecture with the industrial spirit of the surrounding Railyard neighborhood. The units consist of a mixture of one and two-bedroom layouts. Residents have premier access to the Santa Fe River Trail, local gyms, restaurants, and retail shops. The complex is located across the street from the South Capitol Railrunner Train Stop. The property, with a size of 15995 square feet, sits on a 0.65-acre lot. It operates on a Land Lease with the Santa Fe Railyard Community Corporation and is subject to their HOA dues and community guidelines. The property is located at 920 Shoofly Street, Santa Fe, NM 87505.

Key Highlights

  • Newly constructed in 2023, offering modern living spaces.
  • Located in the heart of the Santa Fe Baca Railyard, providing premier access to amenities.
  • Directly across the street from the South Capitol Railrunner Train Stop.

Local Financial Insights For Apartment 5plus

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 $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

Apartment buildings

Suggested Use

Big Box & Wholesale Store Building Supply Auto Parts Store HVAC Service Restaurant Grocery & Convenience Store Food Market Grocery & Convenience Store Auto Repair Shop Electrical Service

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

FAQs

What type of property is this?
Apartment building - New 18-unit multifamily complex in Santa Fe Railyard.
Where is this apartment building located?
The property is located at 920 Shoofly Street 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 living spaces.; Located in the heart of the Santa Fe Baca Railyard, providing premier access to amenities.; Directly across the street from the South Capitol Railrunner Train Stop.
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