Improved Residential Land for Sale in Santa Fe, New Mexico

Exceptional redevelopment and income-producing opportunity at 400 Brunn School Rd. Situated on 2.16 acres, this property has successfully operated as a school for over 40 years and now offers compelling upside under new zoning allowances. The site includes approximately 3,060 sq ft in the main building plus an additional 1,500 sq ft in a detached casita and studio-creating immediate flexibility for phased development, rental income, live/work configurations, or adaptive reuse. With zoning now permitting up to 8 residential units (including 2 designated as affordable housing), investors have a rare chance to capitalize on multi-unit development potential in a high-demand Santa Fe market. Explore workforce housing, long-term rental units, short-term rental concepts (subject to city approval), co-housing, creative campus-style living, or a mixed-use residential compound. Existing improvements may reduce initial development costs while allowing for strategic repositioning to maximize returns. The acreage supports thoughtful site planning, parking solutions, outdoor amenities, and expansion concepts-making this a compelling value-add or ground-up redevelopment play. Opportunities offering this level of acreage, density potential, and structural footprint are increasingly scarce. Ideal for developers, 1031 exchange buyers, or investors seeking diversification through multi-stream residential income.