Live-Work Industrial Flex
C2-1189 Parkway Dr Santa Fe, NM 87507
C2-1189 Parkway Dr, Santa Fe, NM, 87507
$525,000
For Sale
$525,000
New construction flex condominium with roll-up garage door access, finished concrete floors, and separately metered utilities.
Property Size1,676 SF
Price / SF$313.25
Days on Market300
Property Features for C2-1189 Parkway Dr
General Information
- Standard status
- Active
- Size
- 1,676 SF
Listing agency
Keller Williams Realty
(505) 670-7578
Listed by
Leslie Gallatin-Giorgetti · License #47708
(505) 670-7578
Source
Exprealty
Added: Sep 26, 2025 Updated: Jul 21 at 4:06AM Checked: Jul 22 at 7:48AM
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 Phase 2 is a new construction flex-use condominium development offering open, light-filled spaces designed for industrial use. Each unit includes tall ceilings, finished concrete floors, LED lighting, and large aluminum glass roll-up garage doors. Interior features include smooth drywall finishes and handcrafted steel staircases with wood treads, along with kitchen-ready hookups and a designated area for a shower. Utilities are separately metered per unit, supporting independent operation. The ground floor is described as 1,092 square feet with an additional 584 square feet on the second story, for a total of nearly 1,677 square feet per unit. The development’s design also includes landscaped grounds tailored for shipping and receiving, and the roof is prepared for solar PV installation.
The property is located within Santa Fe’s Siler/Rufina Warehouse, Art & Innovation District and is zoned I-1. The offering is also described as being in a Federal Opportunity Zone, and the development includes an option for Live-Work as an accessory to commercial use.
The property is located within Santa Fe’s Siler/Rufina Warehouse, Art & Innovation District and is zoned I-1. The offering is also described as being in a Federal Opportunity Zone, and the development includes an option for Live-Work as an accessory to commercial use.
Key Highlights
- The Studios at Parkway Phase 2 flex‑use commercial/industrial condominium development is currently under construction.
- Each unit is nearly 1,677 SF total, including 1,587 SF interior (walls in) with tall ceilings and finished concrete floors.
- Roll‑up garage door access with expansive storefront windows and LED lighting for light‑filled interior space.
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 | $17.6k | $10.53 |
1,676 SF · lease $18.00/SF/yr · vacancy 10.00% · expense 35.00%
Alternative Uses
Best Use
Flex RnD
$252.1K
$220.6K – $294.1K
NOI $17,648 @ 7.0% cap · market cap 3.36%
Second Best
Warehouse
$144.6K
$126.5K – $168.7K
NOI $10,120 @ 7.0% cap · market cap 1.93%
Theoretical Best
Office A
$455.1K
$398.2K – $531.0K
NOI $31,857 @ 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 - New construction flex condominium with roll-up garage door access, finished concrete floors, and separately metered utilities.
Where is this flex space located?
The property is located at C2-1189 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 Phase 2 flex‑use commercial/industrial condominium development is currently under construction.; Each unit is nearly 1,677 SF total, including 1,587 SF interior (walls in) with tall ceilings and finished concrete floors.; Roll‑up garage door access with expansive storefront windows and LED lighting for light‑filled interior space.
