Creative Studio with Flexible
For Sale
$239,000
931 Shoofly, Santa Fe, NM 87505
CommercialSale, Santa Fe, NM
Property Size676 SF
Lot Size0.02 Acres
Price / SF$353.55
Days on Market22
Property Features for 931 Shoofly
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
BCD
Parking
2
Directions
From downtown head south on Cerrillos Road. Turn Right onto Baca Street. Take the first Right onto Flagman Way and continue approximately 500 feet to Shoofly Street. Turn Left on Shoofly - 931 Shoofly Street will be on the Left. There are 2 dedicated off-street parking spaces in front of the studio,
Standard status
Active
APN
99307531
Size
676 SF
Lot size
0.02 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
T17N R9E S26, Twisted Cow Compound Condominium, Unit K
Tax Annual Amount
1273
Legal Description
T17N R9E S26, Twisted Cow Compound Condominium, Unit K
Utilities
Sewer type
Public Sewer
Water source
Public
Amenities
high ceilings
abundant natural light
quality finishes
flexible layout
kitchenette
built-in artwork storage
double doors
shared half bath
monthly cleaning service
Building Details
Year built
2013
Flooring type
Concrete
Building materials
Frame
Listing Agency:
The Agency Santa Fe
(505) 295-0905
Listed By:
Elayne Patton · License #12947
(505) 690-8300
Added: Sep 16
Changed: Oct 3
Last Checked: Oct 7 at 10:06AM
MLS# 202604013
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 676-square-foot creative studio is configured for professional and artistic work, with a flexible interior, high ceilings, concrete flooring, and substantial natural light. Built in 2013 with frame construction, the unit includes a compact kitchenette with a sink, counter, and under-counter refrigerator, plus built-in artwork storage. Double doors at the front support convenient movement of artwork, equipment, and materials, while two dedicated parking spaces serve the unit.
The property is located in Santa Fe’s Baca Street Arts District near the Railyard, with access to galleries, restaurants, shopping, recreation, and the city trail network. The unit has access to a half bath shared with two neighboring units, and monthly cleaning service is provided through the HOA. Public water and public sewer serve the property, which is zoned BCD.
The property is located in Santa Fe’s Baca Street Arts District near the Railyard, with access to galleries, restaurants, shopping, recreation, and the city trail network. The unit has access to a half bath shared with two neighboring units, and monthly cleaning service is provided through the HOA. Public water and public sewer serve the property, which is zoned BCD.
Key Highlights
- 676‑square‑foot creative studio
- Two dedicated parking spaces in front of the unit
- High ceilings, natural light, and concrete flooring
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$9,309
Cap Rate
3.89%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$186,180
$186.2K
Cap Rate 7%
$132,986
$133.0K
Cap Rate 9%
$103,433
$103.4K
Market Conditions
NOI Build-Up for 676 SF
Gross rent
$14.6K $21.60/SF
− Vacancy
−$2.2K −$3.24/SF
EGI
$12.4K $18.36/SF
− OpEx
−$3.1K −$4.59/SF
NOI
$9.3K $13.77/SF
Area
Santa Fe County, NM
Vacancy
15.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$186,180
Cap Rate 7%
$132,986
Cap Rate 9%
$103,433
Alternative Uses
Best Use
Office B
$133.0K
$116.4K – $155.2K
NOI $9,309 @ 7.0% cap · market cap 3.89%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$183.6K
$160.6K – $214.2K
NOI $12,849 @ 7.0% cap · market cap 5.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,034
Businesses Nearby
Explore this area
Business Placement
Demographics for 87505, NM
32,078
Population
18,733
Households
1.7
Avg Household Size
52
Median Age
54%
College-Educated
94%
High-School Grad
65.1 sq mi
ZIP Area
493
Density / Sq Mi
$75,912
Median Household Income
$41,169
Median Earnings
$1,348
Median Rent
$484,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
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Frequently Asked Questions
What type of property is this?
Creative space - Contemporary commercial workspace with natural light, high ceilings, a kitchenette, artwork storage, and dedicated parking.
Where is this creative space located?
The property is located at 931 Shoofly Santa Fe, NM.
What is the asking price?
The asking price for this property is $239,000.
What are key features of this property?
This property features: 676‑square‑foot creative studio; Two dedicated parking spaces in front of the unit; High ceilings, natural light, and concrete flooring
