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Key Details
Property Type Commercial
Sub Type Office
Listing Status Active
Purchase Type For Sale
Subdivision Lofts At Cerrillos
MLS Listing ID 202503491
HOA Y/N No
Year Built 1995
Property Sub-Type Office
Property Description
The Lofts in Santa Fe has always been a desirable spot for the Live/Work model, if fact it was conceived for that purpose. As it has matured, the Cerrillos Lofts has a mix of Live/Work, residential, and commercial investment spaces. This ground floor unit has been investment real estate for the current owner. It is currently occupied by four tenants, each of whom have their own office. Current NOI is roughly $12,263.00 plus utilities. Market info would suggest that each office should lease for about $600 per month, minimum.$28,800 - $10,537 (Taxes, Insurance , and HOA) in expenses with a 7% CAP rate yields approximately $261,000 The leases now are basically on a month to month so a new owner could vacate the current tenants and use it for themselves, should they so desire. It is an end-cap Unit which is nice. The Cerrillos Lofts has ample parking throughout!
Location
State NM
County Santa Fe
Zoning C-2
Interior
Fireplace No
Exterior
Water Access Desc Public
Present Use Office
Private Pool No
Building
Water Public
Others
Tax ID 910000931
Security Features Surveillance System
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Special Listing Condition Standard
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Listed by John Shepler • Shepler Commercial, LLC
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Maya Hiersoux
Broker Associate | License ID: 54287
Broker Associate License ID: 54287