4246 Cerrillos Road
Newly constructed Applebee's location in Santa Fe, New Mexico, offered at $1,946,000. The 6,488 SF single-tenant restaurant occupies 1.51 acres as a prominent outparcel of Santa Fe Place Mall, with availability beginning May 1, 2027 following the current tenant's lease expiration. Built in 1997 and fully renovated in 2022, the property features an oversized parking lot with 69 spaces and convenient access from Cerrillos Road and through the mall to Rodeo Drive.
The property sits in Santa Fe's established retail trade area, surrounded by major shopping destinations including Plaza Santa Fe, San Isidro Plaza, Sam's Club, and Santa Fe Place Mall, with nearby anchors such as Target, Albertsons, Ross, TJ Maxx, Best Buy, Sprouts, and Lowe's Home Improvement. The trade area benefits from strong demographics: approximately $96,575 average household income and 58,214 residents within three miles, plus more than two million annual visitors to Santa Fe. The Cerrillos Road corridor experiences limited retail vacancy and a shortage of second-generation restaurant opportunities, positioning this property as an attractive location for an established operator or new restaurant concept seeking high visibility and convenient access.
- 6,488 SF single-tenant restaurant space, fully renovated in 2022
- 1.51-acre outparcel with 69 parking spaces and 10:1 parking ratio
- Available May 1, 2027; limited second-generation restaurant opportunities on Cerrillos Road
- Anchored by Target, Albertsons, Best Buy, Sprouts, Lowe's, and Sam's Club
- 58,214 residents within three miles; 2+ million annual Santa Fe visitors
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Features & amenities
Location
4246 Cerrillos Road offers a rare opportunity to acquire or lease a second-generation sit-down restaurant positioned as a prominent outparcel of Santa Fe Place Mall, with availability beginning May 1, 2027 following Applebee’s decision not to renew its lease. Originally constructed in 1997 and fully renovated in 2022, the property occupies 1.52 acres and features an oversized parking lot with more than a 10:1 parking ratio, as well as convenient ingress and egress from Cerrillos Road and through the mall to Rodeo Drive. Located in the heart of Santa Fe’s established retail trade area, the property is surrounded by major shopping destinations including Plaza Santa Fe, San Isidro Plaza, Sam’s Club, and Santa Fe Place Mall, with nearby retailers such as Target, Albertsons, Ross, TJ Maxx, Best Buy, Sprouts, and Lowe’s Home Improvement. The area benefits from strong demographics, including an average household income of approximately $96,575 and 58,214 residents within three miles, along with more than two million annual visitors to Santa Fe. With limited retail vacancy and a shortage of second-generation restaurant opportunities along the Cerrillos Road corridor, the property provides an attractive location for an established operator or new restaurant concept seeking high visibility and convenient access. Please do not disturb the tenant.