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    417 Palace Ave Santa Fe, NM 87501

    For Sale
    $235,000

    Prime location, fully occupied office suite.

    Property size:
    242 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    368
    This exceptional 242-square-foot Class B office condo, located at 417 East Palace Avenue, Suite 16 in the heart of Santa Fe, New Mexico, presents a unique investment opportunity. Priced at $235,000 ($971.07 per square foot), this fully occupied, single-tenancy property offers a strong return on investment. The suite is a traditional office space within a well-maintained building boasting convenient onsite parking, recently paved for easy access. High-speed fiber internet service is readily available, ensuring seamless connectivity for tenants. A significant advantage is the comprehensive condo fee of $272.25 per month, which covers a wide range of expenses including utilities, high-speed internet, HVAC maintenance, security, general building maintenance, property taxes, and access to shared amenities. These shared amenities include a professional conference room and a well-equipped kitchen, enhancing the overall functionality and appeal of the space. The property's central downtown location, close to the Plaza, provides excellent visibility and accessibility, making it an ideal choice for businesses seeking a prestigious address in Santa Fe. The 100% occupancy rate further underscores the property's desirability and potential for consistent income generation. This is a turnkey investment opportunity in a thriving New Mexico market. The zip code is 87501.

    Property Features for 417 Palace Ave

    General Information

    Property type
    Office Properties & Spaces
    Square Feet
    242 SF
    Class
    B

    HighLights

    • 242 sq ft Class B office condo in Santa Fe, NM (87501).
    • $235,000 purchase price ($971.07/sq ft), fully occupied.
    • Located at 417 East Palace Avenue, Suite 16, downtown Santa Fe, near the Plaza.
    • Onsite parking, high‑speed fiber internet available.
    • $272.25 monthly condo fee includes utilities, high‑speed internet, HVAC, security, taxes, and access to shared amenities (conference room & kitchen).
    Property Profile Location Intelligence

    Current Use by Public Records

    Mortgage Partners Mortgage Lender Andrew Hoffman Mortgage Lender Vizzia Technologies Software Company Wander New Mexico ... Tour Operator Gerber & Bateman Lawyer

    Suggested Use

    Restaurant Realty agency Dental Office Spa & Massage Law Firm Hair Salon Nail Salon Building Supply Gym & Fitness Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Santa Fe
    County
    Santa Fe
    State
    New Mexico
    Longitude
    -105.9305387
    Latitude
    35.6861081

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    FAQs

    What type of property is this?
    Office Property / Space - Prime location, fully occupied office suite.
    Where is this office property / space located?
    The property is located at 417 Palace Ave Santa Fe, NM.
    What is the asking price?
    The asking price for this property is $235,000.
    What are key features of this property?
    This property features: 242 sq ft Class B office condo in Santa Fe, NM (87501).; $235,000 purchase price ($971.07/sq ft), fully occupied.; Located at 417 East Palace Avenue, Suite 16, downtown Santa Fe, near the Plaza.
    (505) 577-3524
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    417 Palace Ave Santa Fe, NM 87501
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