# 2849 NM 14, Madrid, NM 87010

> **TL;DR:** commercial, $875,000 ($384/sqft), built 1989, 2,279 sqft. Est. $3,792/mo. Listed 105 days.

## Property at a Glance

| Attribute | Value |
|-----------|-------|
| Price | $875,000 |
| Price/sqft | $384 |
| Square Feet | 2,279 |
| Year Built | 1989 |
| Lot Size | 7,405 sqft (0.17 acres) |
| Property Type | Commercial (Other) |
| Status | For Sale |
| Days on Market | 105 |

## Estimated Monthly Costs

| Category | Amount |
|----------|--------|
| Mortgage (20% down, 6.5%) | $3,792 |
| **Total** | **$3,792** |

## Property Highlights

- Built in 1989
- 0.17 acre lot

## Description

### Agent Description
Commercially zoned property in the heart of the quintessential historic town of Madrid, perfectly located on vibrant Main Street in a highly desirable location to capture business from tourists and locals alike. Madrid is a fun and colorful community just outside of Santa Fe and is the most popular visitor stop along the National Scenic Byway, the Turquoise Trail, making it an ideal day trip linking Santa Fe and Albuquerque. The Trail attracts visitors from all over the world who come to experience the rich culture and history of this picturesque Western town. The property features a fully equipped commercial kitchen and is being sold fully furnished and equipped to operate a successful restaurant. It also boasts a state-of-the-art fire alarm system. Currently leased to The Refinery, offering a solid investment opportunity with a high cap rate and return. At one time, the property operated as two businesses, a retail space in the Santa Fe Railroad railcar situated on site; the railcar is now configured as additional indoor dining. The property offers both indoor and outdoor dining experiences, with the outdoor space overlooking the Madrid Museum and long serving as a dynamic setting for dining and live music. Designated parking is conveniently located along State Highway 14 directly in front of the restaurant.

## Location

- **Address:** 2849 NM 14, Madrid, NM 87010
- **County:** Santa Fe
- **Coordinates:** 35.405799, -106.152727
- **Google Maps:** https://www.google.com/maps?q=35.405799,-106.152727

## Listing Agent

- **Name:** Leslie Gallatin-Giorgetti
- **Brokerage:** Keller Williams Realty
- **Phone:** 5056707578
- **Email:** giorgettirealty@gmail.com

## Primary Photo

![2849 NM 14 - Primary Photo](http://lh.rdcpix.com/07620fe5a260aefff3ae7b67c9bdd6e1l-f378760057r.jpg)

*39 total photos available on [listing page](https://www.propertysimple.com/listing/2849-nm-14-madrid-nm-87010-02600307)*

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**MLS#:** 202600307 | **Updated:** 2026-06-18
**Source:** listhub

*Copyright © 2026 Santa Fe Association of REALTORS®, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.*

[View on PropertySimple](https://www.propertysimple.com/listing/2849-nm-14-madrid-nm-87010-02600307)

---

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