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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    213 Marcy St Santa Fe, NM 87501

    • Commercial real estate
    • 0.16 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US61-0022395
    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

    • HERE Gallery / Art Gallery

    Property Details for 213 Marcy St

    Year built
    1914
    Lot size
    0.16 lot acres
    Property type
    Commercial real estate

    Description

    The Berchtold Building, a beautifully restored Class A historic property at 213 E Marcy St, Santa Fe, NM 87501, offers a unique single-tenant lease opportunity. Originally built in 1914 and extensively renovated in 2000, this charming building boasts 0.16 acres of land and is zoned BCD. Inside, you'll find a spacious and inviting layout perfect for a variety of uses, including retail, office, or gallery space. Features include a large reception/waiting area, two private offices, a dedicated conference area, and gleaming hardwood floors throughout. A well-maintained courtyard provides an attractive outdoor space. The building also includes a convenient kitchenette/break area, two restrooms, and a sunroom offering additional storage. A 150-square-foot basement is available, though not included in the overall square footage. Four dedicated off-street parking spaces provide ample parking for tenants and guests. A private back entrance adds to the building's convenience and privacy. This exceptional property is located in the heart of downtown Santa Fe, offering unparalleled access to local amenities and businesses. The building's recent improvements, including a new restroom added in 2020, ensure a modern and functional workspace.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Santa Fe
    County
    Santa Fe
    State
    New Mexico
    Longitude
    -105.9345772
    Latitude
    35.6885528

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    Similar Nearby for Lease

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      Office and retail building near Santa Fe Plaza with parking.
      125 Lincoln Ave, Santa Fe, NM 87501
      View Details
    • $18 SF/Yr
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      Downtown Santa Fe Office Space

      Three-story office building with parking in the heart of Santa Fe.
      142 W Palace Ave, Santa Fe, NM 87501
      View Details
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      Turnkey Offices in Downtown Santa Fe

      Turnkey offices in downtown Santa Fe near Plaza and government.
      317 Paseo De Peralta, Santa Fe, NM 87501
      View Details
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      Santa Fe Retail Space - 7,371 SF

      Prime Guadalupe St. retail space, divisible, high traffic.
      510 Guadalupe St, Santa Fe, NM 87501
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    • $8,965 /Mo
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      Prime Commercial Space in Santa Fe

      7,500 SF commercial space in a high-traffic Santa Fe location.
      150 S St Francis Dr, Santa Fe, NM 87501
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      Santa Fe Retail & Office Spaces

      Prime Santa Fe location, multiple units available.
      418 Cerrillos Rd, Santa Fe, NM 87501
      View Details
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    213 Marcy St
    Santa Fe, NM 87501
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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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