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    417 Palace Ave Santa Fe, NM 87501

    For Sale
    $225,000

    Prime location, vacant, move-in ready.

    Property size:
    217 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    369
    This exceptional 217-square-foot Class B office condo, located at 417 East Palace Avenue, Suite 15 in the heart of Santa Fe, New Mexico, presents a unique investment opportunity. Priced at $225,000 ($1,036.87 per square foot), this vacant unit is perfect for a small business or individual professional seeking a downtown presence. The property boasts a convenient location near the Plaza, offering easy access to numerous amenities and a vibrant business community. Onsite parking has recently been paved for added convenience. High-speed fiber internet service is already in place, eliminating the need for costly setup. A monthly condo fee of $244.08 covers a comprehensive range of services, including utilities, internet access, HVAC maintenance, security, general building maintenance, property taxes, and access to shared spaces. These shared spaces include a professional conference room and a well-equipped kitchen, providing added value and functionality for occupants. The unit is a traditional office space, ready for immediate occupancy. The property is situated in Santa Fe County, New Mexico, with a zip code of 87501. This is a rare opportunity to acquire a fully-serviced, downtown Santa Fe office condo at an attractive price point.

    Property Features for 417 Palace Ave

    General Information

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

    Building Details

    Units
    1

    HighLights

    • 217‑square‑foot Class B office condo in Santa Fe, NM.
    • Priced at $225,000 ($1,036.87/SF).
    • Located at 417 East Palace Avenue, Suite 15, near the Plaza.
    • Vacant and ready for immediate occupancy.
    • Includes high‑speed fiber internet and recently paved onsite parking.
    • $244.08 monthly condo fee covers utilities, internet, HVAC, security, taxes, and access to shared spaces (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, vacant, move-in ready.
    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.
    What are key features of this property?
    This property features: 217-square-foot Class B office condo in Santa Fe, NM.; Priced at $225,000 ($1,036.87/SF).; Located at 417 East Palace Avenue, Suite 15, 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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