Flex Warehouse Condominium
A1-1189 Parkway Dr Santa Fe, NM 87507
A1-1189 Parkway Dr, Santa Fe, NM, 87507
$525,000
Pending
For Sale
$525,000
Pending
Metal flex warehouse unit with 24-foot ceilings, expansive storefront windows, and a roll-up aluminum glass garage door.
Property Size1,677 SF
Days on Market323
Property Features for A1-1189 Parkway Dr
General Information
- Standard status
- Pending
- Size
- 1,677 SF
Listing agency
Keller Williams Realty
(505) 670-7578
Listed by
Leslie Gallatin-Giorgetti · License #47708
(505) 670-7578
Source
Exprealty
Added: Sep 3, 2025 Updated: Jul 20 at 1:46AM Checked: Jul 20 at 1:46AM
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 Keller Williams Realty
Investment Insights
Based on property information with market context.
The Studios at Parkway offers durable metal flex warehouse condominium units within a 29-unit development. Each unit includes heated space and features 24-foot soaring ceilings, expansive storefront windows, and roll-up aluminum glass garage doors designed to bring natural light into the interior. Interior finishes include polished concrete floors, LED lighting, smooth drywall, and handcrafted steel staircases with oak treads, with stubbed provisions for kitchens and showers to support flexible build-out.
The property is zoned I-1 and is described as being located in the Warehouse and Arts District of Siler/Rufina. The site includes wide sidewalks that can support practical on-site activity such as seating and shipping/receiving. Multiple units can be combined to create larger spaces.
Units are part of Phase II, with 14 units scheduled for completion in Spring 2026. The development is also described as having solar-ready rooftops and being within a Federal Opportunity Zone.
The property is zoned I-1 and is described as being located in the Warehouse and Arts District of Siler/Rufina. The site includes wide sidewalks that can support practical on-site activity such as seating and shipping/receiving. Multiple units can be combined to create larger spaces.
Units are part of Phase II, with 14 units scheduled for completion in Spring 2026. The development is also described as having solar-ready rooftops and being within a Federal Opportunity Zone.
Key Highlights
- The Studios at Parkway will total 29 commercial/industrial/flex‑use condominium units, with Phase II’s 14 units scheduled for Spring 2026 completion
- Each unit features 1,677 heated SF with 24‑foot ceilings plus expansive storefront windows and a roll‑up aluminum glass garage door
- Durable metal building with polished concrete floors and LED lighting, plus smooth drywall and handcrafted steel staircases with oak treads
Local Financial Insights For Flex RnD
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 | $30.2k | $18.00 |
| − Vacancy | −$3.0k | −$1.80 |
| EGI | $27.2k | $16.20 |
| − OpEx | −$9.5k | −$5.67 |
| NOI | $17.7k | $10.53 |
1,677 SF · lease $18.00/SF/yr · vacancy 10.00% · expense 35.00%
Alternative Uses
Best Use
Flex RnD
$252.3K
$220.7K – $294.3K
NOI $17,659 @ 7.0% cap · market cap 3.36%
Second Best
Warehouse
$144.7K
$126.6K – $168.8K
NOI $10,126 @ 7.0% cap · market cap 1.93%
Theoretical Best
Office A
$455.4K
$398.5K – $531.3K
NOI $31,876 @ 7.0% cap · market cap 6.07%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Flex space
Similar For Sale Nearby
Similar Off Market Nearby
- Marigold Kitchen — 1314 Rufina Cir A 3, Santa Fe, NM 87507
- Casa Nova Custom Catering — 1314 Rufina Cir a7, Santa Fe, NM 87507
FAQs
What type of property is this?
Flex space - Metal flex warehouse unit with 24-foot ceilings, expansive storefront windows, and a roll-up aluminum glass garage door.
Where is this flex space located?
The property is located at A1-1189 Parkway Dr Santa Fe, NM.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: The Studios at Parkway will total 29 commercial/industrial/flex‑use condominium units, with Phase II’s 14 units scheduled for Spring 2026 completion; Each unit features 1,677 heated SF with 24‑foot ceilings plus expansive storefront windows and a roll‑up aluminum glass garage door; Durable metal building with polished concrete floors and LED lighting, plus smooth drywall and handcrafted steel staircases with oak treads
