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    Zafarano Dr Santa Fe, NM 87507

    • Power centers
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Power centers

    Property Details for 0 Zafarano Dr

    Property type
    Power centers
    Property subtype
    Retail properties

    Description

    San Isidro Plaza presents a unique opportunity within Santa Fe's thriving retail market. This high-performing power center boasts over 2.5 million annual visitors and features a diverse range of space options, from approximately 553 square feet to approximately 33,039 square feet, allowing for flexibility in tenant needs. Currently anchored by Lowe's Home Improvement and Sprouts grocery, the center benefits from its prime location along the busy Cerrillos Road retail corridor on Santa Fe's high-growth south side. The property is undergoing a transformative redevelopment, including the addition of new multifamily residential units and the exciting reimagining of a former theater into a vibrant new entertainment district. This strategic location is surrounded by established neighborhoods and new residential developments, ensuring a strong customer base. With over 1.8 million square feet of retail space within a half-mile radius, San Isidro Plaza is ideally positioned to capitalize on the area's robust retail activity. The planned expansion will further enhance the center's appeal and draw even more visitors, creating an exceptional opportunity for businesses seeking a prominent presence in this dynamic market. Multiple suite sizes and configurations are available to accommodate a variety of retail concepts. This is a chance to be part of a revitalized and expanding retail destination in Santa Fe County.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Santa Fe
    County
    Santa Fe
    State
    New Mexico
    Longitude
    -106.014
    Latitude
    35.6436

    Comparable in this City

    • Value Estimation by Request
      8,250 SF

      6415 Airport Rd

      Lifestyle centers • 8,250 SF
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    • Value Estimation by Request

      1189 Parkway Dr

      Restaurants
      1189 Parkway Dr, Santa Fe, NM 87507
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    • Value Estimation by Request
      2.50 Acres

      Cerrillos Rd

      Retail properties • 9,000 SF
      0 Cerrillos Rd, Santa Fe, NM 87507
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    • Value Estimation by Request

      Jaguar Dr

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      0 Jaguar Dr, Santa Fe, NM 87507
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    • Value Estimation by Request
      4.38 Acres

      2801 Rodeo Rd

      SHOPPING CENTER, STRIP CENTER • 4.38 Acres
      2801 Rodeo Rd, Santa Fe, NM 87507-6503
      View Details
    • Value Estimation
      $2,915,000
      113,536 SF

      952 Richards Ave

      WHOLESALE OUTLET, DISCOUNT STORE • 113,536 SF
      952 Richards Ave, Santa Fe, NM 87507-7204
      View Details

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    • $30 SF/Yr
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      Retail Space in Santa Fe

      Retail space available for lease in Santa Fe, NM.
      3490 Zafarano Dr, Santa Fe, NM 87507
      View Details
    • $1,500 /Mo
      1,000 SF

      Retail Space on Cerrillos Road

      Prime retail opportunity in a high-traffic Santa Fe location.
      2859 Cerrillos Rd, Santa Fe, NM 87507
      View Details
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    Zafarano Dr
    Santa Fe, NM 87507
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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