Medical Portfolio - Santa Fe & Albuquerque
435 St Michaels Dr Santa Fe, NM 87505
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
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