Courtyard Office
For Sale
$274,995
460 Saint Michaels Drive #1004, Santa Fe, NM 87505
Two private offices, an open office area, a galley, and a large reception define the interior layout.
Property Size873 SF
Price / SF$315
Days on Market13
Property Features for 460 Saint Michaels Drive #1004
General Information
Standard status
Active
Size
873 SF
Property subtype
Commercial
Amenities
courtyard with fountain
operable windows
Building Details
Year Built
1995
Listing Agency:
Office Court Companies
Listed By:
Kenneth Joseph · License #1188
(505) 424-4600
Source:
Lisaharris-realestate
Added: Oct 1
Changed: Oct 3
Last Checked: Oct 12 at 5:20PM
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 873-square-foot office suite contains two large private offices, an open office area, a galley, and a large reception area. Operable windows and a courtyard with a fountain are additional property features. The building was constructed in 1995.
The suite is at 460 Saint Michaels Drive in Santa Fe, caddy-corner from Christus/St. Vincent’s, with ample parking.
The suite is at 460 Saint Michaels Drive in Santa Fe, caddy-corner from Christus/St. Vincent’s, with ample parking.
Key Highlights
- 873‑square‑foot office suite
- Two large private offices plus an open office area
- Large reception area and galley
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,021
Cap Rate
4.37%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$240,420
$240.4K
Cap Rate 7%
$171,729
$171.7K
Cap Rate 9%
$133,567
$133.6K
Market Conditions
NOI Build-Up for 873 SF
Gross rent
$18.9K $21.60/SF
− Vacancy
−$2.8K −$3.24/SF
EGI
$16.0K $18.36/SF
− OpEx
−$4.0K −$4.59/SF
NOI
$12.0K $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%
$240,420
Cap Rate 7%
$171,729
Cap Rate 9%
$133,567
Alternative Uses
Best Use
Office B
$171.7K
$150.3K – $200.4K
NOI $12,021 @ 7.0% cap · market cap 4.37%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$237.1K
$207.4K – $276.6K
NOI $16,594 @ 7.0% cap · market cap 6.03%
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
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
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 - Two private offices, an open office area, a galley, and a large reception define the interior layout.
Where is this office units located?
The property is located at 460 Saint Michaels Drive #1004 Santa Fe, NM.
What is the asking price?
The asking price for this property is $274,995.
What are key features of this property?
This property features: 873‑square‑foot office suite; Two large private offices plus an open office area; Large reception area and galley
