# 2849 NM 14, Madrid, NM 87010

> **TL;DR:** commercial, $875,000 ($384/sqft), built 1989, 2,279 sqft. Est. $4,679/mo. Listed 259 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 | Active |
| Days on Market | 259 |

## Estimated Monthly Costs

| Category | Amount |
|----------|--------|
| Principal & Interest (20% down, 30-year at 6.5%) | $4,424 |
| Estimated Insurance | $255 |
| **Total** | **$4,679** |

## 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 · **License:** 47708
- **Brokerage:** Keller Williams Realty
- **Broker Phone:** (505) 983-5151

## Photos

![2849 NM 14 - Photo 1](http://lh.rdcpix.com/07620fe5a260aefff3ae7b67c9bdd6e1l-f378760057r.jpg)

![2849 NM 14 - Photo 2](http://lh.rdcpix.com/07620fe5a260aefff3ae7b67c9bdd6e1l-f2493511539r.jpg)

![2849 NM 14 - Photo 3](http://lh.rdcpix.com/07620fe5a260aefff3ae7b67c9bdd6e1l-f1574927203r.jpg)

![2849 NM 14 - Photo 4](http://lh.rdcpix.com/07620fe5a260aefff3ae7b67c9bdd6e1l-f969879217r.jpg)

![2849 NM 14 - Photo 5](http://lh.rdcpix.com/07620fe5a260aefff3ae7b67c9bdd6e1l-f3945483079r.jpg)

![2849 NM 14 - Photo 6](http://lh.rdcpix.com/07620fe5a260aefff3ae7b67c9bdd6e1l-f1945514072r.jpg)

![2849 NM 14 - Photo 7](http://lh.rdcpix.com/07620fe5a260aefff3ae7b67c9bdd6e1l-f3807894039r.jpg)

![2849 NM 14 - Photo 8](http://lh.rdcpix.com/07620fe5a260aefff3ae7b67c9bdd6e1l-f4222870476r.jpg)

![2849 NM 14 - Photo 9](http://lh.rdcpix.com/07620fe5a260aefff3ae7b67c9bdd6e1l-f4236012868r.jpg)

![2849 NM 14 - Photo 10](http://lh.rdcpix.com/07620fe5a260aefff3ae7b67c9bdd6e1l-f1423332190r.jpg)

![2849 NM 14 - Photo 11](http://lh.rdcpix.com/07620fe5a260aefff3ae7b67c9bdd6e1l-f2268584296r.jpg)

![2849 NM 14 - Photo 12](http://lh.rdcpix.com/07620fe5a260aefff3ae7b67c9bdd6e1l-f156588399r.jpg)

![2849 NM 14 - Photo 13](http://lh.rdcpix.com/07620fe5a260aefff3ae7b67c9bdd6e1l-f2622720258r.jpg)

![2849 NM 14 - Photo 14](http://lh.rdcpix.com/07620fe5a260aefff3ae7b67c9bdd6e1l-f4267483544r.jpg)

![2849 NM 14 - Photo 15](http://lh.rdcpix.com/07620fe5a260aefff3ae7b67c9bdd6e1l-f37147962r.jpg)

![2849 NM 14 - Photo 16](http://lh.rdcpix.com/07620fe5a260aefff3ae7b67c9bdd6e1l-f2706196478r.jpg)

![2849 NM 14 - Photo 17](http://lh.rdcpix.com/07620fe5a260aefff3ae7b67c9bdd6e1l-f1714762883r.jpg)

![2849 NM 14 - Photo 18](http://lh.rdcpix.com/07620fe5a260aefff3ae7b67c9bdd6e1l-f343750742r.jpg)

![2849 NM 14 - Photo 19](http://lh.rdcpix.com/07620fe5a260aefff3ae7b67c9bdd6e1l-f4288689303r.jpg)

![2849 NM 14 - Photo 20](http://lh.rdcpix.com/07620fe5a260aefff3ae7b67c9bdd6e1l-f3709208790r.jpg)

![2849 NM 14 - Photo 21](http://lh.rdcpix.com/07620fe5a260aefff3ae7b67c9bdd6e1l-f3803678360r.jpg)

![2849 NM 14 - Photo 22](http://lh.rdcpix.com/07620fe5a260aefff3ae7b67c9bdd6e1l-f2298553339r.jpg)

![2849 NM 14 - Photo 23](http://lh.rdcpix.com/07620fe5a260aefff3ae7b67c9bdd6e1l-f1276783659r.jpg)

![2849 NM 14 - Photo 24](http://lh.rdcpix.com/07620fe5a260aefff3ae7b67c9bdd6e1l-f436161556r.jpg)

![2849 NM 14 - Photo 25](http://lh.rdcpix.com/07620fe5a260aefff3ae7b67c9bdd6e1l-f3386442331r.jpg)

![2849 NM 14 - Photo 26](http://lh.rdcpix.com/07620fe5a260aefff3ae7b67c9bdd6e1l-f933232350r.jpg)

![2849 NM 14 - Photo 27](http://lh.rdcpix.com/07620fe5a260aefff3ae7b67c9bdd6e1l-f2070800169r.jpg)

![2849 NM 14 - Photo 28](http://lh.rdcpix.com/07620fe5a260aefff3ae7b67c9bdd6e1l-f2785473847r.jpg)

![2849 NM 14 - Photo 29](http://lh.rdcpix.com/07620fe5a260aefff3ae7b67c9bdd6e1l-f1935522294r.jpg)

![2849 NM 14 - Photo 30](http://lh.rdcpix.com/07620fe5a260aefff3ae7b67c9bdd6e1l-f2095839783r.jpg)

![2849 NM 14 - Photo 31](http://lh.rdcpix.com/07620fe5a260aefff3ae7b67c9bdd6e1l-f864212602r.jpg)

![2849 NM 14 - Photo 32](http://lh.rdcpix.com/07620fe5a260aefff3ae7b67c9bdd6e1l-f172718164r.jpg)

![2849 NM 14 - Photo 33](http://lh.rdcpix.com/07620fe5a260aefff3ae7b67c9bdd6e1l-f4173244620r.jpg)

![2849 NM 14 - Photo 34](http://lh.rdcpix.com/07620fe5a260aefff3ae7b67c9bdd6e1l-f3687382334r.jpg)

![2849 NM 14 - Photo 35](http://lh.rdcpix.com/07620fe5a260aefff3ae7b67c9bdd6e1l-f809146554r.jpg)

![2849 NM 14 - Photo 36](http://lh.rdcpix.com/07620fe5a260aefff3ae7b67c9bdd6e1l-f3260688945r.jpg)

![2849 NM 14 - Photo 37](http://lh.rdcpix.com/07620fe5a260aefff3ae7b67c9bdd6e1l-f486879270r.jpg)

![2849 NM 14 - Photo 38](http://lh.rdcpix.com/07620fe5a260aefff3ae7b67c9bdd6e1l-f634834729r.jpg)

![2849 NM 14 - Photo 39](http://lh.rdcpix.com/07620fe5a260aefff3ae7b67c9bdd6e1l-f1489402417r.jpg)

---

**MLS#:** 202600307 | **Updated:** 2026-10-20
**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.ai/listing/2849-nm-14-madrid-nm-87010-1ea452117b9e45808cb1b309dfe1cccb)

---

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