310 Johnson StSanta Fe, NM 87501

Property Details for 310 Johnson St

Property size (Sq ft)

3,765 SF

Property type

Commercial real estate

APN

18500916

APU

18500916

Description

Exceptional investment opportunity: a meticulously renovated, three-unit hotel in the heart of downtown Santa Fe, New Mexico. This property, located at 310 Johnson St, boasts 3,802 square feet on a 0.12-acre lot and is zoned BCD. Built in 1959 and recently renovated by renowned architect Evan Geisler, the hotel offers a unique blend of historic charm and modern luxury. The three spacious units, designed with a luxurious New York loft aesthetic, feature high ceilings, exposed block walls, polished concrete floors, and upscale finishes. Each unit includes custom walnut cabinetry, handmade doors, quartz countertops, and chef-grade appliances, including two Sub-Zero refrigerators. The bathrooms are equally impressive, showcasing luxurious fixtures, lighted mirrors, and large showers. Unit C, the largest, offers two bedrooms and three bathrooms, accommodating six to eight guests with pull-out sofas. Units B and A each feature two bedrooms and two bathrooms, also with laundry facilities, and sleep up to six guests. Unit A is handicap accessible. The property's strong financial performance is reflected in its asking price of $2,050,000, a price per square foot of $488, and a pro-forma cap rate of 9%, generating a net operating income (NOI) of $232,275. Keypad entry from a central hallway ensures convenient access for guests. This turnkey operation presents a rare chance to acquire a high-performing hospitality asset in a prime Santa Fe location. The property's location in the vibrant downtown area ensures consistent occupancy and strong rental income.

• CAP approach

  CAP return

  Valuation

  6%

  $611,130

  6.5%

  $564,120

  7%

  $523,826

• Comparable approach

  Method

  Valuation

  Relative Method

  $320,625

  Geo Method

  $311,064

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $1,064,070

  Retail / Commercial

  $554,764

  Mixed-Use / Specialty

  $559,968

  Hospitality / Lodging

  $420,180

  Office

  $564,120

  Institutional / Educational

  $584,707

  Residential Income

  $684,107

  Multifamily

  $780,671

  Automotive / Energy

  $501,178

  Parking / Income-Based Land

  $165,856

  Restaurant / Food Service

  $306,569

  Healthcare / Senior Housing

  $566,872

Location Insight

City

Santa Fe

County

Santa Fe

State

New Mexico

Latitude

35.6891

Longitude

-105.943

CBSA code

42140

CBSA name

SANTA FE, NM METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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