Office Unit with Private
For Sale
$400,000
Pending
100a-460 Saint Michaels Dr, Santa Fe, NM 87505
C-1 zoning and shared parking support a range of professional and commercial uses.
Property Size1,614 SF
Days on Market42
Property Features for 100a-460 Saint Michaels Dr
General Information
Standard status
Pending
Size
1,614 SF
Zoning
C-1
Financials
Asking Price
$400,000
HOA Fee
$553
Listing Agency:
Real Estate Advisors, LLC
(505) 539-3200
Listed By:
Tai Bixby · License #40315
(505) 577-3524
Source:
Exprealty
Added: Sep 2
Changed: Oct 9
Last Checked: Oct 12 at 11:45PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Real Estate Advisors, LLC
Investment Insights
Based on property information with market context.
This single-level office condominium contains approximately 1,614 square feet, with several private offices, a reception area, kitchenette, two bathrooms, and built-in cabinetry. Recent work includes new flooring, fresh interior paint, and exterior waterproofing. The space is located in the Office Court at St. Michael's Drive complex in a medical and professional office corridor.
CHRISTUS St. Vincent Regional Medical Center is directly across St. Michael's Drive. Shared parking serves the building, and C-1 zoning allows a range of professional and commercial uses. The layout includes both client-facing reception space and separate offices, along with kitchenette and restroom facilities.
CHRISTUS St. Vincent Regional Medical Center is directly across St. Michael's Drive. Shared parking serves the building, and C-1 zoning allows a range of professional and commercial uses. The layout includes both client-facing reception space and separate offices, along with kitchenette and restroom facilities.
Key Highlights
- Approximately 1, 614 square feet in a single‑level office condominium
- Multiple private offices, reception area, kitchenette, and built‑in cabinetry
- Two bathrooms; recent flooring, interior paint, and exterior waterproofing
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,329
Cap Rate
5.58%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$446,580
$446.6K
Cap Rate 7%
$318,986
$319.0K
Cap Rate 9%
$248,100
$248.1K
Market Conditions
NOI Build-Up for 1,614 SF
Gross rent
$40.7K $25.20/SF
− Vacancy
−$3.5K −$2.14/SF
EGI
$37.2K $23.06/SF
− OpEx
−$14.9K −$9.22/SF
NOI
$22.3K $13.83/SF
Area
Santa Fe County, NM
Vacancy
8.50%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$446,580
Cap Rate 7%
$318,986
Cap Rate 9%
$248,100
Alternative Uses
Best Use
Healthcare Medical
$319.0K
$279.1K – $372.2K
NOI $22,329 @ 7.0% cap · market cap 5.58%
Second Best
Office B
$317.5K
$277.8K – $370.4K
NOI $22,225 @ 7.0% cap · market cap 5.56%
Theoretical Best
Office A
$438.3K
$383.5K – $511.3K
NOI $30,679 @ 7.0% cap · market cap 7.67%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,821
Businesses Nearby
Explore this area
Business Placement
Demographics for 87505, NM
32,078
Population
18,733
Households
1.7
Avg Household Size
52
Median Age
54%
College-Educated
94%
High-School Grad
65.1 sq mi
ZIP Area
493
Density / Sq Mi
$75,912
Median Household Income
$41,169
Median Earnings
$1,348
Median Rent
$484,100
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - C-1 zoning and shared parking support a range of professional and commercial uses.
Where is this office units located?
The property is located at 100a-460 Saint Michaels Dr Santa Fe, NM.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: Approximately 1, 614 square feet in a single‑level office condominium; Multiple private offices, reception area, kitchenette, and built‑in cabinetry; Two bathrooms; recent flooring, interior paint, and exterior waterproofing
