2085 S Pacheco St

DETAILS:

• SALE PRICE: $650,000
• LEASE RATE: See broker.
• Possible build-to-suite, see broker for more details.
• LEGAL DESCRIPTION: Reserved Development Right to Create an Additional 6 Units of Pacheco Plaza Office Condominium, created By Condominium Declaration for Pacheco Plaza Office Condominium.
• ZONING: C-1 (Office and Related Commercial District) City of Santa Fe
• OVERLAY: South Central Highway Corridor Protection District
• TRAFFIC: 39,299 CPD (St. Francis 2022)

HIGHLIGHTS:

• Approved office development site, located in an existing condominium development.
• Significant improvements already in place, including landscaping and parking lot.
• Hard to find opportunity with significant barriers to new development.
• Near major development - Christus St. Vincent's Hospital ($80 million expansion underway), Los Alamos National Laboratories Office/Administration (500 employees), Smith’s Grocery, Starbuck’s Coffee, State Employees Credit Union, Wells Fargo, USPS and others.
• Great location with easy access to St. Francis Drive and St. Michaels Drive.
• Specular views of the Santa Fe National Forest to the east. Possible visibility from St. Francis Drive.

This offering represents a unique opportunity to purchase the right to develop a new building in an existing condominium project. Building 1 (originally developed for the New Mexico Heart Institute) is currently occupied by Nexus Health.  The approved development plan includes the right to construct a second building (Building 2 – Building permit required).  Development plans for Building 2 show a Territorial Style, 2-story, 6,125± sf building envelope.  The development plan indicates Building 2 could be increased up to 9,525± rentable sf and still support 1 parking space per 200 rentable sf (plan requirement).  Any increase in size may be subject approval.