1 Plaza La PrensaSanta Fe, NM 87507

Property Details for 1 Plaza La Prensa

Lot size

5.84 AC

Property size (Sq ft)

52,253 SF

Property type

Office properties

APN

910005441

APU

910005441

Description

This exceptional 46,975-square-foot office building, situated on a 5.84-acre lot in Santa Fe, New Mexico, presents a unique investment opportunity. Built in 2004 and extensively renovated in 2019, the property boasts a modern design and functional layout, previously occupied by the State of New Mexico Human Services. Currently configured entirely as office space, this Class B building offers significant flexibility. Its adaptable design allows for a seamless transition back to a mixed-use configuration, incorporating both office and warehouse space, thanks to existing features such as a dock and drive-in door. The building's versatility makes it attractive to a wide range of tenants. Ample parking is provided with 229 spaces. Strategically located just off Interstate 25, this property offers unparalleled access to Santa Fe and the entire state, further enhanced by proximity to the Santa Fe Bypass Road. The building will be vacant and available for lease in September 2024. The zoning is BIP. The property is located at 1 Plaza La Prensa, Santa Fe, NM 87507, in Santa Fe County. This property is also available for sale

• CAP approach

  CAP return

  Valuation

  6%

  $7,483,814

  6.5%

  $6,908,136

  7%

  $6,414,698

• Comparable approach

  Method

  Valuation

  Relative Method

  $4,449,832

  Geo Method

  $4,317,143

• Alternative Use

  Use

  Valuation

  Residential

  $8,566,089

  Hospitality

  $7,846,492

  Educational

  $6,528,189

  Medical

  $6,752,703

  Retail

  $10,154,960

Location Insight

City

Santa Fe

County

Santa Fe

State

New Mexico

Latitude

35.6034

Longitude

-106.044

CBSA code

42140

CBSA name

SANTA FE, NM METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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