Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1240 Calle De Comercio Santa Fe, NM 87507-3107

    • Manufacturing properties
    • 7,400 SF
    • 0.56 lot acres
    OFF-MARKET
    Value Estimations
    $560,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US61-0291701
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • LAIRD HOVLAND sculpture studio / Art Center

    Property Details for 1240 Calle De Comercio

    Lot size
    0.56 lot acres
    Property size
    7,400 SF
    Property type
    Manufacturing properties
    APN
    99304314
    APU
    99304314

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $615,000
      6.5%
      $565,000
      7%
      $525,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $558,000
      Market price range: $408k - $1.12M

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $700,000
      Current use
      RESTAURANT
      $870,000
      Change: +24% Conversion: Difficult
      MEDICAL BUILDING
      $760,000
      Change: +8% Conversion: Difficult
      OFFICE BUILDING
      $665,000
      Change: -5% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $610,000
      Change: -13% Conversion: Easy

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Santa Fe
    County
    Santa Fe
    State
    New Mexico
    Longitude
    -105.99
    Latitude
    35.6612
    CBSA code
    42140
    CBSA name
    SANTA FE, NM METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $6,224
    $56,303
    $137,232
    $193,535
    -
    $168,912
    $411,699
    $580,611

    Comparable in this City

    • Value Estimation by Request
      1,536 SF

      1237 Calle De Comercio

      MANUFACTURING (LIGHT) • 1,536 SF
      1237 Calle De Comercio, Santa Fe, NM 87507-3126
      View Details
    • Value Estimation by Request

      3938 Buffalo Grass Rd

      Office space
      3938 Buffalo Grass Rd, Santa Fe, NM 87507
      View Details
    • Value Estimation by Request
      2,400 SF

      2926 Rufina Ct

      MANUFACTURING (LIGHT) • 2,400 SF
      2926 Rufina Ct, Santa Fe, NM 87507-2918
      View Details
    • Value Estimation by Request
      2,775 SF

      2873 Trades W Rd

      MANUFACTURING (LIGHT) • 2,775 SF
      2873 Trades W Rd, Santa Fe, NM 87507-3123
      View Details
    • Value Estimation by Request
      1,800 SF

      4 Reata Rd

      MANUFACTURING (LIGHT) • 1,800 SF
      4 Reata Rd, Santa Fe, NM 87507-4214
      View Details
    • Value Estimation by Request
      469 SF

      1205 Calle De Comercio

      MANUFACTURING (LIGHT) • 469 SF
      1205 Calle De Comercio, Santa Fe, NM 87507-3126
      View Details

    Similar Nearby for Sale

    • $495,000
      1,000 SF

      Santa Fe Industrial Space For Sale

      Versatile 1,000 SF building on 0.17 acres
      2917 Rufina Ct, Santa Fe, NM 87507
      View Details
    • $2,495,000
      20,481 SF

      Santa Fe Investment Property For Sale

      Multi-tenant property with staggered leases and irreplaceable location.
      1318-1330 Rufina Cir, Santa Fe, NM 87507
      View Details
    • $525,000
      1,587 SF

      New Santa Fe Flex-Use Condominium

      Under construction commercial condominium in Santa Fe's Siler/Rufina District.
      1189 Parkway Dr, Santa Fe, NM 87507
      View Details
    • $525,000
      Pending

      New Santa Fe Flex-Use Condominium

      Commercial, industrial, and flex-use condominium in Santa Fe's Siler/Rufina District.
      1189 Parkway Dr, Santa Fe, NM 87507
      View Details
    • $525,000
      1,587 SF

      New Santa Fe Flex-Use Condominium

      Under construction flex-use condominium in Santa Fe's Siler/Rufina District.
      1189 Parkway Dr, Santa Fe, NM 87507
      View Details
    • $1,450,000
      8,100 SF

      Santa Fe Mixed-Use Industrial Building

      8,100 SF Flex Space, Owner/User Opportunity
      2891 Cooks Rd, Santa Fe, NM 87507
      View Details

    Similar Nearby for Lease

    • $15 SF/Yr
      5,564 SF

      Santa Fe Industrial Warehouse Space

      Versatile industrial warehouse in Santa Fe's active commercial hub.
      1220 Mercantile Rd, Santa Fe, NM 87507
      View Details
    • $16 SF/Yr
      3,197 SF

      Office/Warehouse Space in Business Park

      3,197 SF office/warehouse space in central Santa Fe.
      3225-3229 Richards Ln, Santa Fe, NM 87507
      View Details
    • $9,000 /Mo
      8,100 SF

      Remodeled Industrial Building with Mountain Views

      8,100 SF remodeled industrial building in Santa Fe for lease.
      2891 Cooks Rd, Santa Fe, NM 87507
      View Details
    • $24,000
      1,000 SF

      Santa Fe Industrial Space For Sale

      Versatile 1,000 SF building, 0.17 acres.
      2917 Rufina Ct, Santa Fe, NM 87507
      View Details
    • $14 SF/Yr
      8,100 SF

      Santa Fe Industrial Building For Sale

      8,100 SF Mixed-Use Industrial Property
      2891 Cooks Rd, Santa Fe, NM 87507
      View Details
    • $4,263 /Mo
      3,197 SF

      Santa Fe Office/Warehouse Space

      3,197 SF office/warehouse in Richards Avenue Business Park.
      3225 Richards Ln, Santa Fe, NM 87507
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1240 Calle De Comercio
    Santa Fe, NM 87507-3107
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.