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    2085 Pacheco St Santa Fe, NM 87505

    Sponsored
    For Sale
    $650,000

    Santa Fe office land, development opportunity.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    406
    This exceptional 0.88-acre commercial land parcel in Santa Fe, New Mexico, presents a unique development opportunity. Located at 2085 S Pacheco St, 87505, this C-1 zoned property (Office and Related Commercial District) offers the reserved development right to create six additional units within the existing Pacheco Plaza Office Condominium. Significant infrastructure is already in place, including landscaping and parking, minimizing upfront development costs. The property benefits from its strategic location near major employers such as Christus St. Vincent's Hospital (currently undergoing an $80 million expansion), Los Alamos National Laboratories' office and administration building (housing 500 employees), and numerous amenities including Smith's Grocery, Starbucks, a State Employees Credit Union, Wells Fargo, and a USPS branch. Enjoy easy access to St. Francis Drive and St. Michaels Drive, and spectacular views of the Santa Fe National Forest. With high traffic counts (39,299 CPD on St. Francis Drive in 2022) and significant barriers to new development, this is a rare opportunity to capitalize on a prime Santa Fe location. The APN is 1-053-097-224-006-CS0-000. The asking price is $650,000. This property is situated within the South Central Highway Corridor Protection District.

    Property Features for 2085 Pacheco St

    General Information

    Property type
    Land
    Lot Size
    38,333 SF

    We can help!

    Listing Contact
    Jake Vosburgh
    Jake Vosburgh

    Learn more

    Property Insight Report

    HighLights

    • Approved office condo development site.
    • Existing infrastructure including landscaping and parking.
    • Rare development opportunity with high barriers to entry.
    • Excellent location near Christus St. Vincent's Hospital (undergoing $80M expansion), Los Alamos National Lab offices, and numerous amenities.
    • Convenient access to St. Francis Drive and St. Michaels Drive.
    • Stunning views of the Santa Fe National Forest, potential St. Francis Drive visibility.
    Property Profile Location Intelligence

    Current Use by Public Records

    Dr. William T. ... Cardiologist Dr. Kimber M. ... Cardiologist Nexus Health Medical Center Kathryn Chan, MD Oncologist David Snyder, MD Oncologist

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Hair Salon Dental Office Nail Salon Building Supply Clothing Store 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
    -105.95855910644
    Latitude
    35.653269443874

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    FAQs

    What type of property is this?
    Land - Santa Fe office land, development opportunity.
    Where is this land located?
    The property is located at 2085 Pacheco St Santa Fe, NM.
    What is the asking price?
    The asking price for this property is $650,000.
    What are key features of this property?
    This property features: Approved office condo development site.; Existing infrastructure including landscaping and parking.; Rare development opportunity with high barriers to entry.
    (505) 390-1043
    Request Owner's contact information
    2085 Pacheco St Santa Fe, NM 87505
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    Santa Fe, NM 87505
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    2085 Pacheco St Santa Fe, NM 87505
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    We can help!
    Listing Contact
    Jake Vosburgh
    Jake Vosburgh
    Real Estate License ID: NM 38506
    (505) 390-1043
    Learn more
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