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

    508 Don Gaspar Ave Santa Fe, NM 87505

    • Office Properties & Spaces
    • 1,657 SF
    OFF-MARKET
    Last Sale
    Dec 30, 2022
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US61-0323931
    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

    • Office Properties & Spaces

    Property Details for 508 Don Gaspar Ave

    Property size
    1,657 SF
    Property type
    Office Properties & Spaces
    APN
    11238798
    APU
    11238798

    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
    -105.941
    Latitude
    35.6815
    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
    $4,113
    $47,801
    $80,100
    $127,901
    -
    $143,405
    $240,303
    $383,708

    Comparable in this City

    • Value Estimation by Request
      13,861 SF

      1660 Old Pecos Trl

      Coworking space • 13,861 SF
      1660 Old Pecos Trl, Santa Fe, NM 87505
      View Details
    • Value Estimation by Request
      2,808 SF

      1223 Saint Francis Dr Ste C

      OFFICE (GENERAL) • 2,808 SF
      1223 Saint Francis Dr Ste C, Santa Fe, NM 87505-4053
      View Details
    • Value Estimation by Request
      1,248 SF

      1223 Saint Francis Dr E E Ste

      OFFICE (GENERAL) • 1,248 SF
      1223 Saint Francis Dr E E Ste, Santa Fe, NM 87505-4053
      View Details
    • Value Estimation by Request
      1,142 SF

      1225 Saint Francis Dr E E Ste

      OFFICE (GENERAL) • 1,142 SF
      1225 Saint Francis Dr E E Ste, Santa Fe, NM 87505-4043
      View Details
    • Value Estimation by Request
      1,270 SF

      1225 Saint Francis Dr Ste C

      OFFICE (GENERAL) • 1,270 SF
      1225 Saint Francis Dr Ste C, Santa Fe, NM 87505-4043
      View Details
    • Value Estimation by Request
      131 SF

      928 Shoofly St Ste B

      OFFICE (GENERAL) • 131 SF
      928 Shoofly St Ste B, Santa Fe, NM 87505-1172
      View Details

    Similar Nearby for Sale

    • $1,290,000
      8,100 SF

      Santa Fe Commercial Building For Sale

      8,100 SF remodeled building in Siler Road industrial corridor.
      2891 Cooks Rd, Santa Fe, NM 87505
      View Details
    • $2,200,000
      7,820 SF

      Santa Fe Medical Office Building

      Prime Medical/Office Space, High Visibility
      450 St Michaels Dr, Santa Fe, NM 87505
      View Details
    • $645,000
      3,080 SF

      Santa Fe Mixed-Use Investment

      Prime Santa Fe location, versatile space, strong ROI.
      1892 Plaza Del Sur Dr, Santa Fe, NM 87505
      View Details
    • $1,100,000
      4,631 SF

      Cerrillos Road Commercial Property

      High-visibility commercial property on Cerrillos Road.
      1932 Cerrillos Rd, Santa Fe, NM 87505
      View Details
    • $235,200
      1,176 SF

      Two-Story Office Condo For Sale

      Two-story office condo with four offices, restroom, and reception area.
      1464 St S, Santa Fe, NM 87505
      View Details
    • $465,000
      2,356 SF

      Santa Fe Midtown Office Space

      Midtown office with flexible floor plan and ample parking.
      1723 2Nd St, Santa Fe, NM 87505
      View Details

    Similar Nearby for Lease

    • $22 SF/Yr
      3,478 SF

      Multi-Use Office Space Available

      Office space with ample parking and easy access.
      1596 Pacheco St, Santa Fe, NM 87505
      View Details
    • $1,800 /Mo
      1,003 SF

      Office Space on South St

      Efficient office space with high visibility near downtown Santa Fe.
      1400 S Saint Francis Dr, Santa Fe, NM 87505
      View Details
    • $2,100 /Mo
      1,000 SF

      Santa Fe Office/Retail Space

      Second-floor commercial space near downtown Santa Fe, ideal for office/retail.
      502 W Cordova Rd, Santa Fe, NM 87505
      View Details
    • $33,333
      20,000 SF

      Santa Fe Office Building For Lease

      Two-story office building with modern amenities and ample parking.
      2905 E Rodeo Park Dr, Santa Fe, NM 87505
      View Details
    • $3,350 /Mo
      1,600 SF

      Santa Fe Ground-Floor Office Space

      Well-located ground-floor office space with easy access to major thoroughfares.
      404 Kiva Ct, Santa Fe, NM 87505
      View Details
    • $1,710 /Mo
      795 SF

      Santa Fe Commercial Condo

      Commercial condo for lease, ideal for medical use.
      2213 Brothers Rd, Santa Fe, NM 87505
      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.
    508 Don Gaspar Ave
    Santa Fe, NM 87505
    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.