Office Suite with Private
For Sale
$507,150
460 Saint Michaels Drive #1201-1202, Santa Fe, NM 87505
Operable windows open onto a landscaped courtyard featuring a fountain.
Property Size1,610 SF
Price / SF$315
Days on Market14
Property Features for 460 Saint Michaels Drive #1201-1202
General Information
Standard status
Active
Size
1,610 SF
Property subtype
Commercial
Amenities
landscaped 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: Sep 30
Last Checked: Oct 12 at 5:23PM
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 1995 office suite is configured with four private offices, a reception area and a galley. Operable windows face a landscaped courtyard with a fountain, and parking is available on site. The property is diagonally across from Christus/St. Vincent's in Santa Fe.
Contiguous units are also available for lease, offering additional space for expansion or the potential to offset ownership expenses.
Contiguous units are also available for lease, offering additional space for expansion or the potential to offset ownership expenses.
Key Highlights
- Four private offices, plus reception and galley areas
- Built in 1995
- Operable windows overlooking a landscaped courtyard with a fountain
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,170
Cap Rate
4.37%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$443,400
$443.4K
Cap Rate 7%
$316,714
$316.7K
Cap Rate 9%
$246,333
$246.3K
Market Conditions
NOI Build-Up for 1,610 SF
Gross rent
$34.8K $21.60/SF
− Vacancy
−$5.2K −$3.24/SF
EGI
$29.6K $18.36/SF
− OpEx
−$7.4K −$4.59/SF
NOI
$22.2K $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%
$443,400
Cap Rate 7%
$316,714
Cap Rate 9%
$246,333
Alternative Uses
Best Use
Office B
$316.7K
$277.1K – $369.5K
NOI $22,170 @ 7.0% cap · market cap 4.37%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$437.2K
$382.5K – $510.1K
NOI $30,603 @ 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
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Frequently Asked Questions
What type of property is this?
Office units - Operable windows open onto a landscaped courtyard featuring a fountain.
Where is this office units located?
The property is located at 460 Saint Michaels Drive #1201-1202 Santa Fe, NM.
What is the asking price?
The asking price for this property is $507,150.
What are key features of this property?
This property features: Four private offices, plus reception and galley areas; Built in 1995; Operable windows overlooking a landscaped courtyard with a fountain
