Courtyard Office in Santa
For Sale
$521,300
Pending
460 Saint Michaels #703-704, Santa Fe, NM 87505
Premier office space near hospital with mature landscaping.
Property Size1,604 SF
Lot Size0.07 Acres
Days on Market318
Property Features for 460 Saint Michaels #703-704
General Information
Standard status
Pending
Size
1,604 SF
Lot size
0.07 Acres
Property subtype
Commercial
Amenities
Laminate Flooring
Membrane Roof
Parking Lot
Tile Flooring
Building Details
Year Built
1995
Listing Agency:
OFFICE COURT COMPANIES
(505) 424-4600
Listed By:
KENNETH JOSEPH · License #1188
(505) 660-5146
Source:
Corcoran
Added: Dec 1, 2025
Changed: Oct 13
Last Checked: Oct 12 at 7:59PM
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 commercial real estate is located in Santa Fe, New Mexico. The property features a courtyard office location with mature landscaping, including flowers, benches, and fountains. It is situated near the hospital and offers parking. The property has a size of 1604 square feet. Intended use of the property is for office space.
Key Highlights
- Premier courtyard office location in Santa Fe
- Caddy corner from the hospital
- Great parking available
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,087
Cap Rate
4.24%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$441,740
$441.7K
Cap Rate 7%
$315,529
$315.5K
Cap Rate 9%
$245,411
$245.4K
Market Conditions
NOI Build-Up for 1,604 SF
Gross rent
$34.6K $21.60/SF
− Vacancy
−$5.2K −$3.24/SF
EGI
$29.4K $18.36/SF
− OpEx
−$7.4K −$4.59/SF
NOI
$22.1K $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%
$441,740
Cap Rate 7%
$315,529
Cap Rate 9%
$245,411
Alternative Uses
Best Use
Office B
$315.5K
$276.1K – $368.1K
NOI $22,087 @ 7.0% cap · market cap 4.24%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$435.6K
$381.1K – $508.2K
NOI $30,489 @ 7.0% cap · market cap 5.85%
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 - Premier office space near hospital with mature landscaping.
Where is this office units located?
The property is located at 460 Saint Michaels #703-704 Santa Fe, NM.
What is the asking price?
The asking price for this property is $521,300.
What are key features of this property?
This property features: Premier courtyard office location in Santa Fe; Caddy corner from the hospital; Great parking available
