1660, 1800-1850, 1701-1751 Old Pecos Trail

Santa Fe, NM 87505 | 77,302 SF | Office Property For Sale

$11,058,263.00


Pecos Trail Office Court Portfolio | Diverse Mix of Tenants | 8% CAP Rate on In-Place Income

Office Property For Sale

Price $11,058,263.00
Size 77,302 SF

Additional Information

Pecos Trail Office Court Portfolio
1660, 1800-1850, 1701-1751 Old Pecos Trail
Santa Fe, NM
ALSO AVAILABLE AS PART OF A 3-PARK PORTFOLIO

 

Offering Summary

Purchase Price: $11,058,263
Price per Square Foot: $143.05
Net Operating Income: $884,661
CAP Rate: 8.00%
Projected Cash Flow After Debt: $326,687
Projected Cash-on-Cash Return: 8.64%
Lease Types: Modified Gross

 

Investment Highlights

  • Significant in-place cash flow with upside through lease-up
    • Portfolio: +/- 77,302 SF (87% occupied)
    • Pecos Trail I: +/- 15,123 (79% occupied)
    • Pecos Trail II: +/- 30,199 SF (83% occupied)
    • Pecos Trail III: +/- 31,980 SF (95% occupied)
  • High-yielding investment – 8% CAP rate based on current, in-place income
  • Attractive, assumable, long-term, fixed rate financing on Pecos Trail I and Pecos Trail III (see loan terms and contact advisor for more details)
  • The Santa Fe market has high barriers to entry
  • Low price/SF (priced below replacement cost)
  • Diverse mix of professional tenants with staggered lease rollovers
  • Many tenants have long tenures at the property
  • Central, convenient location
    • Easy and quick access to downtown Santa Fe, Interstate 25, Christus St. Vincent Hospital, and many other services
  • Original ownership has managed property since it was developed
  • Attractive, quality construction
    • Modular design
    • Absence of load bearing walls
    • Tenant improvements can be completed quicker and less expensive than at competitive properties
    • No common areas (no wasted space)
  • Exceptionally-maintained by attention-to-detail owner with aggressive preventive maintenance program

Location

Cole Flanagan, CPA, MBA

Partner
505.338.4107

Jake Mechenbier

Senior Advisor
505.338.4186

Rich Diller, CCIM, SIOR

Director
505-878-0001

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