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Real Estate Assets & Redevelopment

Santa Fe real estate boasts many of the best qualities for both living and working.

Great views, convenient locations and pleasant spaces are all part of life in Santa Fe. Each different neighborhood and each different part of town has its own own character. It’s worth exploring to find the area that fits your needs and lifestyle best. Some choose to be downtown, with its convenience, cultural activities and excitement. Others choose to savor the wonderful New Mexico night sky by being further out of town, but still within striking distance of it. For some people, neighborhood is important and for others it’s all about solitude and silence.

Santa Fe has a good amount of available commercial real estate for both lease and sale. Existing buildings, build to suit and raw land are available for office, retail and light industrial purposes. There are a number of established business parks conveniently located near transportation options. For more information contact the Santa Fe Association of Realtors at (505) 982-8385 or visit

Commercial Real Estate

Santa Fe has a strong portfolio of commercial, retail, industrial and mixed-use inventory. Additionally, we have land available for construction, including a soon-to-be-developed city business park.

The City of Santa Fe tracks new commercial (non-residential) development by permit. Since 1997, the city has added 3.5 million square feet of building floor area, including churches, community buildings, stores, offices, etc. The 10-year annual average is approximately 350,000 square feet of new non-residential building construction. Annual averages include approximately 109,000 square feet of new office space (31%), 184,000 square feet of new retail-related development (53%), and 35,000 square feet of new industrial/warehouse development (10%).

During 2007, the city approved nearly 300,000 square feet of new commercial development, including an estimated 153,000 square feet of new office space and 93,000 square feet of new retail store development. Approximately 5-6 acres are developed for every 100,000 square feet of commercial floor area constructed. As a result, 175-210 acres of land have been commercially developed in the city since 1997, or an average absorption rate of 18-21 acres, annually.

Some sources for commercial real estate in Santa Fe include:

Publicly-owned commercial real estate:

Architects, Designers and Contractors

Search Commercial Property Lease Listings

Santa Fe Association of Realtors website

Residential Neighborhoods

Santa Fe is indeed “the city different”. The market for Santa Fe residential real estate is also different – but much more diverse than many believe.

Downtown, and in the historic East side historic adobe-built homes line narrow, often dirt roads – these timeless, romantic, enchanting homes are jealously preserved, and highly sought-after. At the other end of the Santa Fe real estate housing scale, there are many Santa Fe homes – largely to the south of the city – built and priced as starter homes, in the $200,000 range. In between, there are condos, townhomes and other single family homes. Not all are built in the famous “Santa Fe pueblo” style. If you like pitched roofs, ranch-style, ultra-modern or quietly elegant – we’ve got those!

The other consideration is whether you want to be in town, close to everything, or out of town, in the beautiful, rolling hills around Santa Fe. Although Santa Fe is not a large town (population around 80,000) it has distinct neighborhoods…..

Santa Fe Neighborhoods

One of the most enchanting and impressive features of Santa Fe is the diversity of its neighborhoods – starting with charming historic areas in the heart of town right off the Plaza, to newer developments that take in the space and sky outsideof town. While not all-inclusive, the following describes most of Santa Fe’s eclectic areas.

Historic Eastside

The Historic Eastside begins on the east side of Paseo de Peralta and runs up into the foothills of the Sangre de Cristo Mountains. On the north, it is bordered by the Santa Fe River and on the south by Old Pecos Trail. Canyon Road is the heart of the Eastside with art galleries and adobe houses that were prototype for “Santa Fe Style”. Small roads, many of them dirt, meander off Canyon Road. Homes vary from the simplest of structures to the swankiest of estates. In the mountains above St. John’s College, for example, is Wilderness Gate with 5+ acre view lots and large, elegant homes.

The Northwest

The Northwest is a land of rolling hills and sweeping vistas. It isbordered on the east by Highway 285 North and on the west by the Rio Grande River. The region contains some of the most lavish and sought-after real estate in the area. Lots start at one acre and go up to 20 plus acres. The two primary subdivisions are La Tierra and Las Campanas.

North Hills

The North Hills rise from Paseo de Peralta and are bordered by Old Taos Highway on the west, the Sangre de Cristo mountains on the east and Tesuque on the north. The terrain is rolling with small pinons and juniper further uphill, and culminates in the mountains with spruce and ponderosa pines approaching the Ski Valley. Tesuque is an area of riverbed and meadows, pastoral and picturesque. The Gonzales and Cerro Gordo Road areas are reminiscent of the Eastside dirt roads with houses ranging from humble to expansive. The Old Taos Highway corridor includes condos and homes on one-plus acre lots. Like the countryside, the real estate becomes more impressive (and expensive) as the elevation increases. Primary subdivisions on Hyde Park Road (the road up to the Ski Valley) are: The Summit, Hyde Park Estates, and Sierra del Norte.

West Alameda

This area includes established close-in neighborhoods, such as Casa Solana, and further-out (although only about 10 minutes) areas with more land and expansive views, such as Puesta del Sol. The West Alameda district has many advantageous features such as proximity to downtown and many view lots. The West Alameda district extends from St. Francis Dr. west out both sides of Alameda and is bordered by the Santa Fe River on the south and by Paseo de Vista on the north

Historic Guadalupe

Closely nestled homes now dominate the streetscape. Many houses still retain the quaint vernacular style favored by the industrious and humble original inhabitants. Though interspersed with new homes or up-to-date renovations, the neighborhood retains much of its old character and charm. Located from Guadalupe Street west to St. Francis Dr. between Cerrillos and the Santa Fe River.

Historically, the Guadalupe neighborhood grew along the “Camino Real”, the road back to Mexico and eventually to Spain. The landmark Santuario de Guadalupe was the last place travelers stopped to pray for safe passage and drink from the Agua Fria well as they embarked on the trail.

Travelers, stock and wagons gathered and supplies were unloaded here after the perilous journey from Mexico and Spain. Later the Santa Fe Trail, then the railroad, terminated in this neighborhood.

The area is expanding with renovation of a district called The Railyard district, home of the historic Santa Fe Southern Railroad, and featuring live-and-work studios, shops and galleries and a fresh new energy. The Railyard is one of Santa Fe’s most vibrant up-and-coming areas.

South Capitol

South Capitol stretches south from the State Capitol complex west of the Old Santa Fe Trail. It goes all the way to the St. Vincent Hospital on the south and St. Francis Dr. on the west.

The streetscape is reminiscent of many charming neighborhoods in towns around the country. Lots vary from 60 x 100 foot parcels up to an acre or so. The bungalows near the Capitol are more often frame construction than adobe. Renovations in the district and newer homes update the original standards of the 1940s and 50s to include some very fine homes. Also interspersed are small rental complexes and condos.


This area lies east of St. Francis Dr. and generally south of Garcia St. within the City limits. The Museum District and  further out Old Santa Fe Trail includes some of the most incredible property in the city. Lot sizes vary from about 1/2 acre to more than five, some with stunning views. Here, one finds homes of all sizes and types.

DeVargas Heights lies east of Old Pecos Trail near Zia Road. It is a mature subdivision of moderate priced ranch or pueblo style homes on lots of about 1/5 to 1/2 acre. You will find homes of about 2,000 square feet, some dated, some renovated, and some new more expensive homes.

To the west of Old Pecos Trail lies Sol y Lomas. Here lots are 1/2 to over 1 acre. There’s a country feeling with pinons providing privacy from neighbors. Homes, often over twenty years old, are usually well kept, some ready for remodel, and some updated. Sizes vary from about 1,800 square feet to over 3,000.

Quail Run is a gated 9-hole golf community with exercise, meeting and restaurant facilities. A variety of town homes and single-family homes are available for part-time or full-time residents.


The Southwest is bordered on the east by St. Francis Dr. and on the west by Cerrillos Road and extends south out Airport Road. It is an area of condos, town homes and single-family dwellings that is, perhaps, more like most other U.S. cities than any other area of Santa Fe. Roads on the southwest side are paved, most streets have sidewalks and most houses have garages. Most homes are still “Santa Fe Style.” Many homes are new, although some are older and somewhat dated. This can translate into a good buy for a person who doesn’t mind doing some cosmetic work. Major subdivisions in this area are: Villa Caballero I, II and III, Las Estancias, Pueblos del Sol, Los Milagros, Las Acequias, Vista Primera and Park Plazas.

Old Las Vegas Corridor

This area extends outside the city to the southeast along both sides of I-25, and out as far as Eldorado and the US Highway 285 junction. Most of this area lies in the foothills at the southern end of the Sangre de Cristo Mountains. The setting is rural and quiet. Via Old Santa Fe Trail or Old Las Vegas Highway, you are still just a few minutes from town. Driving to the more secluded sites on winding hilly side roads takes a bit longer. Lot sizes vary but many average five acres. Home prices vary considerably depending on views, terrain, and the specific neighborhood.


The Eldorado area lies about fifteen miles (or 20 minutes) southeast of the Plaza on gently rolling terrain. The Eldorado subdivision now includes about 2,200 homes. It includes a small and pleasant shopping and office complex, a library, a community recreation center, stables and protective covenants. Many lots have lovely views and native piñon and juniper vegetation.

The homes in Eldorado often include modern conveniences and a variety of pleasing styles. A number of builders are active here and values have increased steadily for existing properties.

The Eldorado area includes many other subdivisions (Alteza, Dos Griegos, Los Vaqueros, Old Road Ranch, and The Ridges), with larger lots and generally more expensive homes. Other subdivisions may offer more interesting terrain or allow horse stables. The historic villages of Lamy and Galisteo lie further to the south, each with its own charm.

North of Santa Fe

Traditional Spanish settlements grew up along the fertile streams that run from the mountains to the Rio Grande. Native American pueblos (reservations) straddle the Rio Grande and adjoin the villages to the north of Santa Fe. Tesuque (a village named after the adjacent pueblo) is just north of Santa Fe. Because of its initial affordability, it became a home to artists. Later it became popular, offering a “back to nature” lifestyle for the affluent. Los Caminitos and Vista Redondo are among the subdivisions near Tesuque on the way to the tiny villages of Chupadero and Rio En Medio. Casas de San Juan is a superb gated community adjacent to the Santa Fe Opera.

The Nambe and Pojoaque valleys lie about 15 minutes north of Santa Fe on US 285. The traditional farming villages here retain their agrarian charm, in spite of an influx of scientists from Los Alamos in the 50s and some continuing gentrification. Humble, but charming adobe farm houses adjoin verdant large estates, new homes and trailers.

La Cienega / Highway 14

The La Cienega/Highway 14 area is south of town on either side of I-25 (La Cienega on the west, Highway 14 on the east). The terrain is high mesa and lots tend to be one-plus acres. Views are generally long and lovely, and housing varies from mobile homes, to alternative (e.g. bermed-in or strawbale) to traditional Santa Fe style. Further south along Highway 14 (45 minutes to an hour from Santa Fe) are Cerrillos and Madrid, two eclectic old mining towns offering more affordable homes and lots of atmosphere.

(provided courtesy of Frank O’Mahony, evolve Real Estate Santa Fe)






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