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Set in the Baca Street Railyard, the light-industrial creative pocket of Santa Fe, 1221 Flagman Way is a two-story metal building of 5,986 square feet, built in 2009 and configured for real, active use. City utilities and a full HVAC system are in place. Two three-quarter baths (each with a shower), a 1/2 bath, and dedicated office space support a working operation from day one. Zoning allows for commercial and/or residential use. The building earns its keep right now. The ground floor runs as a functional fitness center and gym; the upper floor houses a Jiu Jitsu studio and a chiropractic practice. The current occupants would like to stay, yet no long-term leases encumber the property. That is the opportunity here: step in as an owner-user and take the space for your own venture, or hold it as an income-producing asset with tenants already in place who want to remain, without inheriting locked-in obligations. The location does much of the work. Baca Street is a walkable, design-forward corner of Santa Fe, an eclectic mix of galleries, makers, cafes, glass studios, and independent businesses, connected by foot and bike along the Acequia Trail to the wider Railyard’s markets, museums, and restaurants. Property highlights / fast facts: 5,986 SF two-story metal building, built 2009, in the Baca Street Railyard, 4-unit building Currently income-producing: ground-floor fitness center/gym; upper-floor Jiu Jitsu studio and chiropractic practice Flexible occupancy: existing occupants want to stay, but no long-term leases bind a new owner Turnkey for owner-users or a ready-made investment/income play Two 3/4 baths (each with shower) and 1/2 bath Dedicated office space City utilities and full HVAC in place Leasehold: City ground lease with a significant term remaining and options to renew (not fee-simple)

Highlights

  • Commercial Sale
  • Mixed Use
  • Built in 2009
  • 117 days on Market

  • Year Built
    2009

  • Utilities
    Electricity Available
  • Water
    Public


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Frequently Asked Questions

How do I schedule a tour of 1221 Flagman Way #B 1 B 4?

We can make that happen quickly. Click Tour This Home and we'll connect you directly with our vetted local partner to schedule your visit to 1221 Flagman Way #B 1 B 4.

They know commercial sales in the area well and can give you the guidance you need to buy with confidence.

How do I get more information about 1221 Flagman Way #B 1 B 4?

Click Ask a Question to talk with our team. You already know it is a N/A bed, N/A bath, listed for $1,600,000. We can talk through recent upgrades, potential seller motivation, how this mixed use compares to others in Santa Fe, and can even get you in to see the property quickly.

How much is the monthly mortgage payment for 1221 Flagman Way #B 1 B 4?

With a 20% down payment and a 30-year fixed loan at an illustrative 6.75% rate, the ez Mortgage Calculator estimates the monthly payment for 1221 Flagman Way #B 1 B 4 at around $8,675. This includes estimated property taxes and insurance.

Want to see how this changes with different down payments or interest rates? Jump to the calculator to run the numbers and fine-tune your plan.

How do I get pre-approved to buy 1221 Flagman Way #B 1 B 4?

Stand out in a competitive market by getting pre-approved today. Our quick and private pre-approval process helps you understand your true buying power—no credit pull required to explore all of your options.

Or, let us connect you with our preferred local lender in Santa Fe County. They will give you all of your available financing options, based on your specific situation and what is available to you.

Can I negotiate the asking price for 1221 Flagman Way #B 1 B 4?

In most cases, yes. Whether 1221 Flagman Way #B 1 B 4 is priced competitively or not, your best offer depends on your personal situation, the seller's timeline, and recent activity in Santa Fe's market. Our preferred local partner will help you craft a strategy—factoring in comparable properties that have sold, timing, and deal structure—to make a smart, strong offer. Click here to ask about negotiation opportunities.

How do I make an offer on 1221 Flagman Way #B 1 B 4?

We can handle that for you. Our preferred local agent specializes in commercial sales in Santa Fe and can guide you through every step of the offer process.

You need an expert who is looking out for your best interests. From market valuation to contingencies and timing, they'll help you present a compelling offer that fits your goals. Click Ask a Question to get started today.

What is the price per square foot for this home?

This home is listed at $1,600,000 with 5,984 sqft of space—that comes out to approximately $267 per square foot.

How long has this property been on the market?

1221 Flagman Way #B 1 B 4 was listed on July 14, 2026, which means it's been on the market for 117 days.

Want to keep tabs on it? Click the ♥ to favorite this home and get notified of price drops or changes.

When was this house built?

This home was built in 2009, making it approximately 17 years old.

Is 1221 Flagman Way #B 1 B 4 still available for sale?

Yes, this home is still available! Click the ♥ to favorite it so you don't miss any changes—or ask our local expert to schedule a time to see it in person.

Source: ez Home Search, MLS Data

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Last Updated: November 08, 2026 at 09:10AM | Source: Santa Fe Association of REALTORS | MLS#: 202602825