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Medical Portfolio - Santa Fe & Albuquerque

435 St Michaels Dr Santa Fe, NM 87505

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Overview

Two Medical Office Properties: Saint Michaels Medical is being marketed as part of a  portfolio totaling approximately 75,029 square feet across 4 two-story buildings
Strategic Medical Locations: Positioned near key healthcare facilities, including hospitals and specialized medical centers.
Attractive Purchase Package: Combined offering priced at less than half of replacement cost, allowing for competitive positioning against new construction.
Stabilized Cash Flow: High occupancy rates with established, long-term medical tenants across diverse specialties.
Value-Add Potential: Below-market rents provide room for income growth as leases renew, while Saint Michael’s location enhances value in Santa Fe’s healthcare hub.
Additional Income Opportunity: Several leases include operating expense reimbursements that the current owner is not capturing, providing a pathway to increase net operating income.

Proximity to Major Medical Centers: Prime locations near Christus St. Vincent Medical Center and Lovelace Women’s Hospital.
Below-Market Rent Growth Potential: Opportunity to increase revenue as leases renew at market rates.
Stable Occupancy and Cash Flow: Both properties benefit from creditworthy tenants and consistent occupancy.
Healthcare Corridor Demand: Santa Fe and Albuquerque healthcare expansions are likely to increase patient flow and tenant interest.
Investor-Friendly Cap Rates: High yield potential with stable, diversified income sources.

Attachments

For Sale

Healthcare
Office

Secondary Uses: Medical, Office Building

Sale Price
$8,263,908
Price Per SF
$296.8/SF
Investment
Yes
Cap Rate
6.5%
Gross Income
$658,923
Net Operating Income
$537,154
Total Expenses
$121,769
Building Size
27,839 SF
Acres
2.01 ac
Building Name
Saint Michaels Medical & Granada Square Medical
Year Built
1985
Parking Ratio
3.15 / 1000
Submarket
Santa Fe
Nearest MSA
Albuquerque
Average Occupancy Rate
92
Nearest Interstate
I-25 - 1.58 mi
Nearest Highway
US Hwy 285 (St. Francis) - 0.8 mi
Nearest Airport
Santa Fe Regional Airport - 13.6 mi
Power Provider
Private - PNM
Water Provider
City - City of Santa Fe - Water Division
Sewer Provider
City - Wastewater Management
Natural Gas Provider
Private - NM Gas Company
County
Santa Fe
Created
2024-12-05
Updated
2024-12-31
Listing ID
560e0a4c

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