Courtyard Office with
460 Saint Michaels Drive Santa Fe, NM 87505
460 Saint Michaels Drive, Santa Fe, NM, 87505
$521,300
Pending
For Sale
$521,300
Pending
SINGLE_FAMILY - Santa Fe, NM
Property Size1,604 SF
Lot Size0.07 Acres
Days on Market228
Property Features for 460 Saint Michaels Drive
General Information
- Property type
- Residential
- Property subtype
- Office
- Zoning
- C-1
- Parking
- 7
- Parking features
- Parking Lot
- Standard status
- Pending
- APN
- 980000990
- Size
- 1,604 SF
- Lot size
- 0.07 Acres
Taxes and HOA fees
- Tax Description
- UNIT 700 OFFICE COURT DEV II, LTD
Utilities
- Sewer type
- Public Sewer
- Water source
- Public
Building Details
- Year built
- 1995
- Flooring type
- Tile, Laminate
- Building materials
- Frame
- Roof type
- Membrane
Listing Agency
Office Court Companies
(505) 424-4600
460 St. Michael's Drive, Suite, Santa Fe, NM
Listed by
Kenneth Joseph · License #15913
(505) 660-5146
Added: Dec 1, 2025 Checked: Jul 17 at 2:06 am
MLS# 202505242
Copyright © 2026 Santa Fe Association of REALTORS®, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This for-sale office property is configured as courtyard-style office space, built around mature landscaping. The grounds include flowers, benches, and fountains, creating a landscaped setting for clients and staff. The offering is identified as Office Units / Office Spaces under C-1 zoning.
The property is located at 460 Saint Michaels Drive in Santa Fe, and is described as caddy corner from the hospital. Parking is noted as a key convenience for visitors and employees.
For office users who value an outdoor courtyard and a landscaped environment, this configuration can support professional reception, client-facing waiting areas, and day-to-day operations typical of office tenants. The C-1 zoning may be relevant for prospective buyers reviewing compatibility with their intended office use. Please note the listed remarks state that the listing and any contract are subject to the landlord paying off its mortgage; details are available by asking the listing agent.
The property is located at 460 Saint Michaels Drive in Santa Fe, and is described as caddy corner from the hospital. Parking is noted as a key convenience for visitors and employees.
For office users who value an outdoor courtyard and a landscaped environment, this configuration can support professional reception, client-facing waiting areas, and day-to-day operations typical of office tenants. The C-1 zoning may be relevant for prospective buyers reviewing compatibility with their intended office use. Please note the listed remarks state that the listing and any contract are subject to the landlord paying off its mortgage; details are available by asking the listing agent.
Key Highlights
- Premier courtyard office location in Santa Fe.
- Caddy corner proximity to the hospital.
- Ample parking with a parking lot.
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 | $34.6k | $21.60 |
| − Vacancy | −$5.2k | −$3.24 |
| EGI | $29.4k | $18.36 |
| − OpEx | −$7.4k | −$4.59 |
| NOI | $22.1k | $13.77 |
1,604 SF · lease $21.60/SF/yr · vacancy 15.00% · expense 25.00%
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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Office Units
Similar For Sale Nearby
FAQs
What type of property is this?
Office units - Courtyard-style office space with landscaped grounds and convenient parking near a hospital.
Where is this office units located?
The property is located at 460 Saint Michaels Drive 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 proximity to the hospital.; Ample parking with a parking lot.
