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Property profile & analytics
OFF-MARKET
Estimated value
$2,530,000
Medical Office Space
1640 Hospital Dr Santa Fe, NM 87505-4754
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US61-0043906
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Total area
21,515 SF
Lot
2 ac (87,120 SF)
APN
18500978
UPID
US61-0043906
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Dr. Thomas R. Burdick, MD Physician Medical Clinic
-
Dr. JD D. Griste, MD Physician Medical Clinic
-
Jonathan D. Lehman, MD Physician Medical Clinic
-
Dr. Andrew N. Beagle Physician Medical Clinic
-
Dr. James R. Damron, MD Physician Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.19M
Blend (final)
Blend
$2.53M
Owner & transaction history
Santa Fe Radiology Properties LLC · 6 yrs held
Santa Fe Radiology Properties LLC
since 2019
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Industrial (general)
$3.1M
+40.7%
Office building
$2.8M
+27.7%
Restaurant
$2.6M
+15.6%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Santa Fe submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Santa Fe submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$2,225,000
Current use
INDUSTRIAL (GENERAL)
$3,125,000
Change: +41% · Conversion: Difficult
OFFICE BUILDING
$2,840,000
Change: +28% · Conversion: Easy
RESTAURANT
$2,570,000
Change: +16% · Conversion: Difficult
AUTO REPAIR, GARAGE
$2,265,000
Change: +2% · Conversion: Difficult
Blend value · Realmo final
$2.53M
Range $2.28M – $2.78M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$118 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$42,833
Tax year 2023
Assessed value
$1,332,000
Assessed 2023
Previous assessed
$1,070,790
+24.4% YoY
Effective rate
3.22%
On assessed value
Assessed land
$194,204
Assessed improvement
$1,137,796
Land market value
$582,615
Improvement market value
$3,413,390
Total market value
$3,996,005
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Heating
NONE
Total area
21,515 SF
Lot
2 ac (87,120 SF)
APN
18500978
UPID
US61-0043906
Jurisdiction
SANTA FE
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$2.2M
INDUSTRIAL (GENERAL)
Est. value
$3.1M
OFFICE BUILDING
Est. value
$2.8M
RESTAURANT
Est. value
$2.6M
AUTO REPAIR, GARAGE
Est. value
$2.3M
MEDICAL BUILDING Current
INDUSTRIAL (GENERAL)
OFFICE BUILDING
RESTAURANT
AUTO REPAIR, GARAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Heating
NONE
Lot
2 ac
Current owner
From public records · entity-resolved
Santa Fe Radiology Properties LLC
Entity
Mailing address
1640 HOSPITAL DR, SANTA FE, NM 87505-4754
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 10, 2021
—
Santa Fe Radiology Properties LLC
—
Deed
related
$907,000 · Pnc Bank NA
Nov 15, 2019
—
Santa Fe Radiology Properties LLC
Hta Santa Fe 1640 LLC
Warranty Deed
$3,315,000 · Bbva USA
Dec 22, 2010
—
Hta-santa Fe 1640 LLC
1640 Hospital Drive LLC
Quit Claim Deed
related
—
Apr 11, 2005
—
1640 Hospital Drive LLC
—
Trustees Deed
related
$212,000 · First State Bank New Mexico
Feb 4, 2002
—
1640 Hospital Drive LLC
Santa Fe Imaging Center Ltd
Grant Deed
$1,945,000 · Los Alamos National Bank
—
—
1640 Hospital Drive LLC
—
Deed Of Trust
related
$3,180,000 · First State Bank New Mexico
—
—
1640 Hospital Drive LLC
—
Deed Of Trust
related
$3,850,000 · Pnc Bank
—
—
1640 Hospital Drive LLC
—
Deed Of Trust
related
$250,000 · First State Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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