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    Property profile & analytics

    3875 Cerrillos Rd Santa Fe, NM 87505

    • Strip malls
    • 8,528 SF
    • 0.77 lot acres
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US61-0926076
    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

    • Aspen Dental - Santa Fe, NM / Dental Office
    • Navbir Aurora / Dental Office
    • Phillip Born Jr / Dental Office
    • Plaza del Norte / Business Center / Property Management Company
    • Latinos Unidos Mini Market / Grocery & Convenience Store / Food Market

    Property Details for 3875 Cerrillos Rd

    Lot size
    0.77 lot acres
    Property size
    8,528 SF
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    99307033
    APU
    99307033

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $1,795,000
      RESTAURANT
      $1,000,000
      MEDICAL BUILDING
      $875,000
      INDUSTRIAL (GENERAL)
      $810,000
      OFFICE BUILDING
      $770,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Santa Fe
    County
    Santa Fe
    State
    New Mexico
    Longitude
    -106.012
    Latitude
    35.6431
    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
    $12,044
    $75,042
    $299,479
    $374,521
    -
    $225,129
    $898,439
    $1,123,568

    Comparable in this City

    • Value Estimation
      $3,565,000
      26,650 SF

      4350 Airport Rd

      SHOPPING CENTER, STRIP CENTER • 26,650 SF
      4350 Airport Rd, Santa Fe, NM 87507-2809
      View Details
    • 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
      $3,575,000
      26,780 SF

      3140 Cerrillos Rd

      SHOPPING CENTER, STRIP CENTER • 26,780 SF
      3140 Cerrillos Rd, Santa Fe, NM 87507-2307
      View Details
    • Value Estimation by Request
      8,250 SF

      6415 Airport Rd

      Lifestyle centers • 8,250 SF
      6415 Airport Rd, La Cienega, NM 87507
      View Details
    • Value Estimation
      $570,000
      10,824 SF

      5251 Las Soleras Dr

      WHOLESALE OUTLET, DISCOUNT STORE • 10,824 SF
      5251 Las Soleras Dr, Santa Fe, NM 87507-2101
      View Details
    • Value Estimation by Request
      8,858 SF

      5992 Airport Rd

      WHOLESALE OUTLET, DISCOUNT STORE • 8,858 SF
      5992 Airport Rd, Santa Fe, NM 87507-1811
      View Details

    Similar Nearby for Sale

    • $525,000
      Pending

      Flex-Use Condominium in Santa Fe

      New commercial condominium development in Santa Fe's Warehouse and Arts District.
      1189 Parkway Dr, Santa Fe, NM 87507
      View Details
    • Contact for pricing
      3,053 SF

      New Restaurant on Cerrillos Road

      New restaurant on a 1.61-acre parcel in Santa Fe.
      3570 Cerrillos Rd, Santa Fe, NM 87507
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    • $754,000
      2,242 SF

      Versatile Corner Unit with Visibility

      Flexible commercial space suitable for showroom, gallery, studio, or cafe.
      1300 Rufina St, Santa Fe, NM 87507
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    • $4,200,000
      Pending

      Santa Fe Warehouse with Showroom

      26,860 SF warehouse with showroom on 2.5 acres.
      1127 Siler Park Ln, Santa Fe, NM 87507
      View Details
    • Contact for pricing
      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
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    • $1,150,000
      3,829 SF

      Santa Fe Commercial Building Opportunity

      Versatile commercial building in Santa Fe's vibrant arts district.
      1343 Rufina Cir, Santa Fe, NM 87507
      View Details

    Similar Nearby for Lease

    • $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
    • Contact for pricing

      Prime Commercial Land Available

      Approximately 2.5 acres on a highly visible primary arterial.
      Cerrillos Rd, Santa Fe, NM 87507
      View Details
    • Contact for pricing
      553 SF

      Retail Space in Santa Fe

      Retail space available for lease in Santa Fe, NM.
      3490 Zafarano Dr, Santa Fe, NM 87507
      View Details
    • Contact for pricing

      Retail Space Near Cerrillos Road

      Retail space with high visibility and multiple access points.
      4980 Promenade Blvd, Santa Fe, NM 87507
      View Details
    • $3,300 /Mo
      2,000 SF

      Santa Fe Commercial Space Available

      Prime commercial space for lease in Santa Fe's Rodeo District.
      3600 Rodeo Rd, Santa Fe, NM 87507
      View Details
    • Contact for pricing
      28,000 SF

      Freestanding Retail Building in Santa Fe

      28,000 SF retail building with ample parking.
      3140 Cerrillos Rd, Santa Fe, NM 87507
      View Details

    Property Visit Statistics

    • Visits by month
      29.3k
    • Visitors by month
      18.0k
    • Avg Time on site
      9 min
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    Santa Fe, NM 87505
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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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