124 E Marcy St
Santa Fe, NM 87501
Office Property For Sale

REA | Real Estate Advisors is pleased to present 124 East Marcy Street, a 9,924 square foot, two story office building situated on 0.198 acres in the heart of downtown Santa Fe. The property sits on the south side of Marcy Street between Otero Street and Washington Avenue, two blocks north of the Santa Fe Plaza, directly across from the Santa Fe Public Library and within the established Marcy Street professional office node that has long served the city's law firms, financial advisors, media companies, and civic institutions.
Buildings of this size do not come to market in downtown Santa Fe. The Downtown submarket contains roughly 604,000 square feet of tracked office inventory with availability at 6.53 percent, and the overwhelming majority of that inventory is held in small suites within multi tenant buildings. A contiguous, single owner asset approaching 10,000 square feet on a site with frontage on two streets represents an opportunity that the constrained downtown core simply does not replicate. The Business Capitol District is effectively built out, vacant land is close to nonexistent, and historic review makes ground up replacement impractical. Whatever a buyer's intended use, the barriers protecting this address are permanent.
The building offers 4,962 square feet on each floor, masonry construction, wood flooring, central HVAC, and a second floor balcony fronting Marcy Street that captures the streetscape and the light this city is known for. A diesel powered backup generator serves the building, a feature that matters to professional users with continuity of operations requirements. Ingress is walk up from Marcy Street with secondary access and surface parking at the rear along Nusbaum Street.
BCD zoning within the Marcy subdistrict permits office, retail, residential, and related uses, giving a purchaser real optionality: occupy the whole building as a headquarters, occupy one floor and lease the other, reposition to boutique multi tenant office, or explore a residential or hospitality concept consistent with the district's mixed use intent. All uses and any exterior modification remain subject to City of Santa Fe review, and prospective purchasers should conduct their own due diligence with the Planning Department.
Downtown Santa Fe supports a face rate of $26.58 per square foot in tracked office product, and the district's demand drivers are as durable as any in New Mexico: state government as the region's largest employer, an international arts economy anchored by the galleries northwest of the Plaza, roughly 1.6 million annual visitors, and a research and professional services base linked to Los Alamos National Laboratory. Owning on Marcy Street places a business inside all of it.
Property in foreclosure and receivership, sale subject to lender and court approval.