For sale

$549,000

2864 State Highway 14, Cerrillos, NM 87010

--beds

--baths

3,748sqft

Est.:

Business

Built in 1930

7,840.8 Square Feet Lot

$541,400 Zestimate^®

$146/sqft

$2/mo HOA

What's special

This commercial property with 2 apartments and a casita i on Highway 14 is located in the center of Madrids business district. Madrid is an eccentric and creative town located twenty miles south of Santa Fe. There are many shops, galleries and restaurants and other year round attractions. This is a turnkey commercial property that has a new roof, new electrical work installed a new hot water heater and has just been painted.

179 days

368

9

Tour with a local agent

Facts & features

Interior

Heating

Propane Stove

Cooling

None

Features

No Interior Steps
Has basement: No
Has fireplace: No

Interior area

Total structure area: 3,748
Total interior livable area: 3,748 sqft

Property

Accessibility

Accessibility features: Accessibility Features

Lot

Size: 7,840.8 Square Feet

Details

Additional structures: Guest House Detached, Studio Attached
Parcel number: 079100952
Zoning: Historic,Other
Special conditions: Standard

Construction

Type & style

Home type: SingleFamily
Architectural style: Northern New Mexico
Property subtype: Business

Materials

Roof: Shingle

Condition

Year built: 1930

Utilities & green energy

Sewer: Septic Tank
Water: Community/Coop
Utilities for property: Electricity Available

Community & HOA

HOA

Has HOA: Yes
Services included: Recreation Facilities, Road Maintenance
HOA fee: $20 annually

Location

Region: Cerrillos

Financial & listing details

Price per square foot: $146/sqft
Tax assessed value: $361,419
Annual tax amount: $3,447
Date on market: 9/11/2025
Cumulative days on market: 212 days
Listing terms: Cash,New Loan
Electric utility on property: Yes

Estimated market value

$541,400

$514,000 - $568,000

$2,007/mo

Price history

Date	Event	Price
12/4/2025	Price change	$549,000-7.7%$146/sqft
Source: SFARMLS #202504165 Report a problem
10/14/2025	Listed for sale	$595,000+50.6%$159/sqft
Source: SFARMLS #202504165 Report a problem
9/30/2020	Listing removed	$395,000$105/sqft
Source: Cholla Properties #201803497 Report a problem
8/19/2020	Listed for sale	$395,000$105/sqft
Source: Cholla Properties #201803497 Report a problem
6/15/2020	Listing removed	$395,000$105/sqft
Source: Cholla Properties #201803497 Report a problem
5/24/2020	Listed for sale	$395,000-18.6%$105/sqft
Source: Cholla Properties #201803497 Report a problem
9/5/2017	Listing removed	$485,000$129/sqft
Source: Sotheby's International Realty - Main Downtown #201701268 Report a problem
3/29/2017	Listed for sale	$485,000$129/sqft
Source: Sotheby's Int. RE/Washington #201701268 Report a problem

Public tax history

Year	Property taxes	Tax assessment
2024	$3,447 -18.4%	$361,419 -20.5%
2023	$4,227 +6.6%	$454,515 +7.7%
2022	$3,966 -0.9%	$422,028 -0.5%
2021	$4,001 -1.5%	$424,073 +195.8%
2020	$4,060 +1%	$143,387 +0.9%
2019	$4,022 +0.4%	$142,073 +0.4%
2018	$4,007	$141,530 +0.4%
2017	$4,007 +0.4%	$141,000 +28.6%
2016	$3,992	$109,600
2015	$3,992 +35.1%	$109,600 +0.1%
2014	$2,955 +788%	$109,490
2005	$333 +6.3%	--
2004	$313 -9.6%	--
2003	$346 +2.9%	--
2002	$337 -4.5%	--
2001	$353 +3.5%	--
2000	$340	$23,370