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    417 Palace Ave Santa Fe, NM 87501

    For Sale
    $225,000

    Prime location, vacant, 214 sq ft.

    Property size:
    214 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    370
    This exceptional 214-square-foot Class B office condo is ideally situated in downtown Santa Fe at 417 East Palace Avenue, Suite 14, offering unparalleled convenience and accessibility. Currently vacant, this traditional office space presents a fantastic opportunity for a business seeking a prestigious address. The asking price is $225,000, translating to $1,051.40 per square foot. The property boasts a gross lease type, simplifying financial planning. Enjoy the benefits of a prime downtown location, just steps from the Plaza. On-site parking is available, recently improved with new paving. High-speed fiber internet service is already installed, ensuring seamless connectivity. A monthly condo fee of $240.77 covers a comprehensive range of services, including utilities, internet access, HVAC maintenance, security, general maintenance, property taxes, and access to shared amenities. These shared amenities include a professional conference room and a well-equipped kitchen, perfect for client meetings or informal gatherings. The property is located in Santa Fe County, New Mexico, zip code 87501. This is a rare opportunity to acquire a fully-serviced, downtown Santa Fe office space at a competitive price.

    Property Features for 417 Palace Ave

    General Information

    Property type
    Office Properties & Spaces
    Square Feet
    214 SF
    Class
    B
    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, vacant, 214 sq ft.
    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 $225,000.
    (505) 577-3524
    Request Owner's contact information
    417 Palace Ave Santa Fe, NM 87501
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    Santa Fe, NM 87501
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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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