Building Details

Year Built 1992

Buildings 1

Building Size 2,069 SF

Listing Agency: SF BROWN REAL ESTATE Show Phone

Listed By: ALICIA BERTRAM · License #48316 Show Phone

Source: Corcoran

Added: Oct 7 Last Checked: Oct 7 at 2:30PM

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Investment Insights

Based on property information with market context.

Built in 1992 as a dental office, this standalone medical office contains 2,069 square feet on an almost half-acre lot. Its five rooms each have a sink, alongside two bathrooms, a kitchenette, a reception area, washer and dryer hookups, and a second entrance. Laminate flooring and plaster detailing finish the reception area, which receives natural light. The building has forced-air heating and CenturyLink business service.

Dental equipment is available for purchase separately. Any future use is subject to applicable zoning and use requirements.

Key Highlights

• 2,069‑square‑foot standalone building on an almost half‑acre lot
• Five rooms, each with its own sink
• Two bathrooms, kitchenette, reception area, washer and dryer hookups

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$28,624

Cap Rate

4.40%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$572,480 $572.5K

Cap Rate 7%

$408,914 $408.9K

Cap Rate 9%

$318,044 $318.0K

Market Conditions

NOI Build-Up for 2,069 SF

Gross rent

$52.1K $25.20/SF

− Vacancy

−$4.4K −$2.14/SF

EGI

$47.7K $23.06/SF

− OpEx

−$19.1K −$9.22/SF

NOI

$28.6K $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%

$572,480

Cap Rate 7%

$408,914

Cap Rate 9%

$318,044

Alternative Uses

Best Use

Healthcare Medical

$408.9K

$357.8K – $477.1K (±1% cap)

NOI $28,624 @ 7.0% cap · market cap 4.40%

Second Best

Office B

$407.0K

$356.1K – $474.8K (±1% cap)

NOI $28,490 @ 7.0% cap · market cap 4.38%

Theoretical Best

Office A

$561.8K

$491.6K – $655.5K (±1% cap)

NOI $39,328 @ 7.0% cap · market cap 6.05%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Medical Office Space

Suggested Use

Top Pick Building Supply Auto Repair Shop Restaurant Auto Parts Store HVAC Service Kitchen & Bath Showroom

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

864

Businesses Nearby

Balanced

Demand for This Use

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

11% 2019

14.1% 2020

15.5% 2021

17.2% 2022

19.9% 2023

21% 2024

20.8% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this medical office space located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Medical Office Space - A reception area, kitchenette, and five sink-equipped rooms shape the interior configuration.

Where is this medical office space located?

The property is located at 409 Botulph Santa Fe, NM.

What is the asking price?

The asking price for this property is $650,000.

What are key features of this property?

This property features: 2,069‑square‑foot standalone building on an almost half‑acre lot; Five rooms, each with its own sink; Two bathrooms, kitchenette, reception area, washer and dryer hookups