Premier Santa Fe Courtyard
For Sale
$500,220
460 Saint Michaels Drive 1001-1002, Santa Fe, NM 87505
Courtyard office park with distinctive architectural features and ample parking.
Property Size1,598 SF
Price / SF$313.03
Days on Market223
Property Features for 460 Saint Michaels Drive 1001-1002
General Information
Standard status
Active
Size
1,598 SF
Listing Agency:
Office Court Companies
(505) 424-4600
Listed By:
Kenneth Joseph · License #1188
(505) 660-5146
Source:
Wesellsantafe
Added: Mar 5
Changed: Oct 7
Last Checked: Oct 12 at 7:44PM
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 Office Court Companies
Investment Insights
Based on property information with market context.
This office unit is located in Santa Fe's premier courtyard office park, situated across from the hospital and fronting St. Michael's. Originally serving as the headquarters of a venture capital firm, the 1598 square foot unit features carved woodwork and a dramatic reception area. The layout includes 4 large offices or conference rooms, complemented by a circular outdoor fountain with benches. The property benefits from numerous operable windows and ample parking. Intended use is for office space. DISCLAIMER: PLEASE NOTE THAT THIS LISTING AND ANY CONTRACT IS SUBJECT TO LANDLORD PAYING OFF ITS MORTGAGE. ASK LISTING AGENT FOR DETAILS.
Key Highlights
- Premier courtyard office park location.
- High visibility St. Michael's frontage.
- Close proximity to the hospital.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,004
Cap Rate
4.40%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$440,080
$440.1K
Cap Rate 7%
$314,343
$314.3K
Cap Rate 9%
$244,489
$244.5K
Market Conditions
NOI Build-Up for 1,598 SF
Gross rent
$34.5K $21.60/SF
− Vacancy
−$5.2K −$3.24/SF
EGI
$29.3K $18.36/SF
− OpEx
−$7.3K −$4.59/SF
NOI
$22.0K $13.77/SF
Area
Santa Fe County, NM
Vacancy
15.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$440,080
Cap Rate 7%
$314,343
Cap Rate 9%
$244,489
Alternative Uses
Best Use
Office B
$314.3K
$275.1K – $366.7K
NOI $22,004 @ 7.0% cap · market cap 4.40%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$433.9K
$379.7K – $506.3K
NOI $30,375 @ 7.0% cap · market cap 6.07%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
2,452
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
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Frequently Asked Questions
What type of property is this?
Office units - Courtyard office park with distinctive architectural features and ample parking.
Where is this office units located?
The property is located at 460 Saint Michaels Drive 1001-1002 Santa Fe, NM.
What is the asking price?
The asking price for this property is $500,220.
What are key features of this property?
This property features: Premier courtyard office park location.; High visibility St. Michael's frontage.; Close proximity to the hospital.
