Meadows Rd Santa Fe, NM 87507

This exceptional 3.23-acre lot in Santa Fe, New Mexico, presents a unique opportunity for residential development. Located near Highway 599, this property boasts breathtaking mountain views and convenient access to a variety of amenities, including schools, restaurants, and shopping centers. The lot is zoned R-1, offering flexibility for residential construction. With a total area of 140,612 square feet, the land is priced at $499,000, or $3.55 per square foot. The land value alone is assessed at $3.91 per square foot. The property's current NOI is $32,000, yielding a 6.41% cap rate, while the pro-forma NOI is projected at $36,000, resulting in a 7.21% pro-forma cap rate. The property's address is S Meadows Rd, Santa Fe, NM 87507, and its APN is 1049097275096000000. This offering represents a compelling investment for those seeking a blend of natural beauty, convenient location, and strong potential returns. The property's proximity to Highway 599 ensures easy access to the surrounding area, while the serene landscape provides a tranquil setting. This is an ideal opportunity to build a dream home in a desirable Santa Fe location.