Commercial property located in Santa Fe near downtown and adjacent to CHRISTUS St. Vincent Hospital, with road access via St. Michael’s corridor and on-site parking. The building is approximately 1,417 square feet and was fully renovated, including a replaced roof, stucco, windows, HVAC, an electrical panel, and a water heater. Interior features include an advanced dehumidifier and filtration system, antimicrobial flooring, and updated plumbing suitable for medical and wellness use. The spa/wellness configuration includes four float rooms, a Sunlighten infrared sauna, five flexible-use rooms, and one updated bathroom. The property historically operated as the Grey Matter Float Spa, offering float therapy and infrared sauna services; it also includes float spa equipment such as four float tanks and a sauna and is suited for additional wellness services such as massage and skincare.

Property type Medical Office Space

Use group MEDICAL BUILDING

Total area 1,404 SF

APN 18601466

UPID US61-0298995

Implied cap rate, NOI & suggested price

Cap rate vs submarket · NOI estimate · 3 price anchors

Dental Office
Dental Office
Dental Office
Dental Office
Dental Office

539 Harkle Rd Ste A Santa Fe, NM 87505-4783

Santa Fe metro Census 1001 SANTA FE, NM METROPOLITAN STATISTICAL AREA

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AI Approach AI

$285k

CAP Approach CAP

by Request

Comparable Approach Comparable

by Request

Blend (final) Blend

$285k

since 2019

2 recorded transactions

2023

Price N/A

2019

Price N/A

Comparables

6 recent transactions · within 1.5 mi

Comparable in this City

Value Estimation
$300,000

1,500 SF

1651 Galisteo St Ste, Unit 12

MEDICAL BUILDING

1651 Galisteo St Ste, Santa Fe, NM 87505-2113

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Value Estimation
$100,000

552 SF

1 Calle Medico 2nd Ste, Unit 2

MEDICAL BUILDING

1 Calle Medico 2nd Ste, Santa Fe, NM 87505-4764

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Value Estimation
$475,000

5,612 SF

641 Harkle Rd

MEDICAL BUILDING

641 Harkle Rd, Santa Fe, NM 87505-4751

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Value Estimation
$890,000

13,750 SF

1620 Hospital Dr

MEDICAL BUILDING

1620 Hospital Dr, Santa Fe, NM 87505-4754

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Value Estimation by Request

3 Calle Medico

MEDICAL BUILDING

3 Calle Medico, Santa Fe, NM 87505-4724

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Value Estimation
$1,345,000

28,750 SF

435 Saint Michaels Dr

MEDICAL BUILDING

435 Saint Michaels Dr, Santa Fe, NM 87505-7672

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