500 Market StSanta Fe, NM 87501

Property Details for 500 Market St

Property size (Sq ft)

21,457 SF

Property type

Office properties

APN

99305951

APU

99305951

Description

This exceptional 4,616 square foot restaurant space is located at 500 Market Street #201 in Santa Fe, New Mexico's vibrant Railyard District. Built in 2008, this second-floor property features high ceilings, abundant natural light, four custom-built booths, and a large open area adaptable to various dining layouts. A sizable kitchen with a separate entrance ensures efficient operations and easy delivery access. Two bay doors open onto a balcony offering stunning Sangre de Cristo Mountain views. The property sits on a 1.36-acre lot and includes an elevator. Its prime location is steps from the Santa Fe Depot Rail Runner Station, Santa Fe Railyard Park, Whole Foods Market, REI, and the Santa Fe Farmers Market, ensuring high foot traffic and convenient access to supplies. The space is zoned BCD and has an APN of 202341819. A $10,000 tenant improvement allowance is included. This is a unique opportunity to establish a restaurant in a thriving, culturally rich area of Santa Fe. The entire 4,616 square feet is currently vacant and ready for immediate occupancy.

• CAP approach

  CAP return

  Valuation

  6%

  $3,073,126

  6.5%

  $2,836,732

  7%

  $2,634,108

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,827,262

  Geo Method

  $1,772,777

• Alternative Use

  Use

  Valuation

  Residential

  $3,517,547

  Hospitality

  $3,222,054

  Educational

  $2,680,712

  Medical

  $2,772,905

  Retail

  $4,169,996

Location Insight

City

Santa Fe

County

Santa Fe

State

New Mexico

Latitude

35.684

Longitude

-105.948

CBSA code

42140

CBSA name

SANTA FE, NM METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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