Sold
906 St. Francis at US-285/St Francis Drive
Santa Fe NM, 87505
Price upon request
Sold
11,456 sqft
Commercial
Built in 1989
Price just reduced to $1,150,000. This 11,416 sf multi-tenant office/retail building on an 18,690 sf lot is located on the northwest corner of Cerrillos Road and South St. Francis Drive, directly across from Starbucks (between Mercer and pedestrian underpass). The property is in good condition and the owners will be installing a new roof scheduled for 24-Oct. The building is currently fully leased to office and retail tenants. Building has enjoyed high occupancy because of its superior, high-visibility location, considerable parking and competitive rents. Most leases are relatively short term. Numerix, the largest tenant at 4,240sf has slightly less than a year remaining and does not planning on exercising its renewal option. Projected CAP rate for 2022 is anticipated to be 8.9% based on 94%% occupancy and estimated NOI of approx. $102,000/sf/year. If the 4,240sf space is vacant through entire 2023, NOI is estimated to be approximately $54,000. Full rent roll and APOD available with confidentiality non-disclosure agreement.
Starbucks, immediately across St. Francis Drive is also for sale by same owner.
202201884
MLSⓇ ID
May 26, 2022
Listed
February 16, 2024
Updated
Map
906 St. Francis at US-285/St Francis Drive
Santa Fe NM, 87505
Interior Features
Floor Description
Concrete
Fireplace
No
Cooling
No
Heating
Yes
Heating Description
Natural Gas
Exterior/Building Features
Lot Size
0.74 Acres
Roof
Flat
Sewer
Public Sewer
Other Property Details
Area Name
Santa Fe
Taxes
$12,446
Tax Frequency
Annually
Days on Market
162
Garage
No
Parking
Off Site, Paved, Parking Available, Parking Lot
View
No
County
Santa Fe
Water Source
Public
Pool
No
Zoning
C-1
Buyer Agency Compensation
3%
Listed by Douglas Roberts with dRoberts Realty LLC
Listing Contact: (505) 629-0825
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Data last updated on 2/16/2024 at 5:36 AM UTC