Office Suite in Santa
460 Saint Michaels #704 Santa Fe, NM 87505
460 Saint Michaels #704, Santa Fe, NM, 87505
$209,160
For Sale
$209,160
Office suite with reception area and galley in Santa Fe.
Property Size664 SF
Price / SF$315
Days on Market101
Property Features for 460 Saint Michaels #704
General Information
- Standard status
- Active
- Size
- 664 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1995
Listing Agency
OFFICE COURT COMPANIES
(505) 424-4600
Listed by
KENNETH JOSEPH
Source
Corcoran
Added: Apr 9 Checked: Jul 17 at 3:02 am
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 suite offers a functional layout, featuring a large office, an open office area, and a separate reception area with a galley. The suite benefits from numerous operable windows, providing natural light and ventilation. The property is located in close proximity to Christus St. Vincent's.
Key Highlights
- Outstanding location caddy corner from Christus St. Vincent's
- Large Office, Open Office, and Separate Reception
- Galley
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $14.3k | $21.60 |
| − Vacancy | −$2.2k | −$3.24 |
| EGI | $12.2k | $18.36 |
| − OpEx | −$3.0k | −$4.59 |
| NOI | $9.1k | $13.77 |
664 SF · lease $21.60/SF/yr · vacancy 15.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$130.6K
$114.3K – $152.4K
NOI $9,143 @ 7.0% cap · market cap 4.37%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$180.3K
$157.8K – $210.4K
NOI $12,621 @ 7.0% cap · market cap 6.03%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Office Units
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FAQs
What type of property is this?
Office units - Office suite with reception area and galley in Santa Fe.
Where is this office units located?
The property is located at 460 Saint Michaels #704 Santa Fe, NM.
What is the asking price?
The asking price for this property is $209,160.
What are key features of this property?
This property features: Outstanding location caddy corner from Christus St. Vincent's; Large Office, Open Office, and Separate Reception; Galley
