1005 St Francis Dr Santa Fe, NM 87505

Property Details for 1005 St Francis Dr

Property size

5,051 SF

Property type

Retail properties

Property subtype

Restaurants

Description

This exceptional commercial condominium opportunity in Santa Fe, New Mexico, presents a unique blend of existing income and significant redevelopment potential. The property, located at 1005 S St Francis Dr, encompasses a 5,051 square foot, 100% occupied restaurant building (Condominium Unit A) with an additional 1,100 square foot interior patio. This building sits on a 26,427 square foot lot (Parcel C and a triangular parcel), offering substantial excess land for development. The property is part of the Crossroads Center, a high-traffic location at the intersection of St Francis Drive and Cerillos Road, boasting approximately 60,000 vehicles per day. The surrounding area features a dense concentration of national retailers, including Whole Foods, Trader Joes, Walgreens, and CVS. The property is zoned BCD (Cerrillos Subdistrict), permitting a wide range of commercial uses, including retail, banking, restaurants (including drive-thrus and QSR), hospitality, and office space. Residential use is prohibited under condominium rules. The maximum building height is 45 feet. The offering includes the existing condominium unit and associated reserved development rights (RDRs) for Parcel C, which can be converted into up to six additional condominium units upon substantial completion of construction. The Parcel C RDR expires June 25, 2025. Additionally, a 50% undivided interest in the Parcel B RDR is included