906 St. Francis at US-285/St Francis Drive

$1,150,000

906 St. Francis at US-285/St Francis Drive

$1,150,000

Contact Presenting Broker

    SIR

    Sotheby's International Realty ®

    (800) 409-7325

    Key Features

    • MLS: 202201884
    • Status: Pending No Showings
    • Price: $1,150,000
    • Area: 4N-SF City Limit SWN
    • Type: Investment
    • Acres: 0.74

    About this Property

    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.

    Additional Features

    • Type Investment
    • Days On Market 197
    • Parking FeaturesOff Site, Paved, Parking Available, Parking Lot
    • UtilitiesHigh Speed Internet Available
    • HeatingNatural Gas
    • FlooringConcrete
    • Construction MaterialsFrame
    • RoofFlat
    • Water SourcePublic
    • SewagePublic Sewer

    Neighborhoods

    Santa Fe City Southwest

    Santa Fe city southwest, the largest area of Santa Fe and still growing…. West Side This older, family community boasts an eclectic mix of commercial development and mid-priced adobe structures. St. Anne's church and Larragoite elementary school help create a neighborhood atmosphere. Barrio la Cañada Close to town and just west of the west side, this small area provides a quiet,

    Schools

    Listing Brokerage

    IDX listing

    Douglas Roberts

    dRoberts Realty LLC

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    The data relating to real estate for sale in this web site comes in part from the Internet Data exchange (“IDX”) program of SFAR MLS, Inc. Real estate listings held by brokers other than Sotheby's International Realty ® are marked with the IDX logo. All data in this web site is deemed reliable but is not guaranteed.