MLS#202503491
STATUSActive
PROPERTY TYPECommercial - Office
SUBDIVISIONLofts at Cerrillos
Property Description
The Lofts in Santa Fe has always been a desirable spot for the Live/Work model, if fact it was conceived for that purpose. As it has matured, the Cerrillos Lofts has a mix of Live/Work, residential, and commercial investment spaces. This ground floor unit has been investment real estate for the current owner. It is currently occupied by four tenants, each of whom have their own office. Current NOI is roughly $12,263.00 plus utilities. Market info would suggest that each office should lease for about $600 per month, minimum.$28,800 - $10,537 (Taxes, Insurance , and HOA) in expenses with a 7% CAP rate yields approximately $261,000 The leases now are basically on a month to month so a new owner could vacate the current tenants and use it for themselves, should they so desire. It is an end-cap Unit which is nice. The Cerrillos Lofts has ample parking throughout!
Property Features
Property Type: Commercial - Office
Year Built: 1995
Feature Descriptions
Days on Site: 292
Parcel#: 910000931
Security: Surveillance System
Water: Public
Listed By / Shown By
Listed By
Agency Name: Shepler Commercial, LLC
Agency Phone: (505) 982-7600
Shown By
Agent Name: Ed Wray
Agent Phone: (505) 228-3338
Agency Title: Coldwell Banker Legacy
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3600 Cerrillos Road, Unit 1001 | MLS# 202503491
This commercial property located at 3600 Cerrillos Road, Unit 1001, Santa Fe, NM 87507 is currently listed for sale with an asking price of $261,000. Search Santa Fe real estate on ewray.cblegacy.com today.