7
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$2,500,000
Est. payment /mo
9,583 Sqft Lot
Price Dropped by $500K
216 Washington AVE Santa Fe, NM 87501
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Key Details
Property Type Commercial
Sub Type Office
Listing Status Active
Purchase Type For Sale
MLS Listing ID 202603611
HOA Y/N No
Year Built 1937
Lot Size 9,583 Sqft
Acres 0.22
Property Sub-Type Office
Property Description
216 Washington Avenue is a ±4,373 square foot office building on a ±0.22 acre lot, a short walk north of the Santa Fe Plaza. The building is 100% occupied by a single tenant, Corcoran Plaza Properties, and comes with ten on-site surface parking spaces, something very few downtown buildings can claim.
Built in 1937 and located inside the Downtown and Eastside Historic District, the property has herringbone brick floors, divided light storefront windows, wood and glass doors, a fireplace, skylights, and the original bank vault. BCD zoning (Business Capitol District, Marcy Subdistrict) permits a broad range of office, retail, and residential uses, subject to city review.
The property sits in the 200 block of Washington Avenue, a short walk from the Santa Fe Plaza, the federal courthouse, the main public library, and the Santa Fe Community Convention Center. Parking is at the rear of the building, reached by a public alley off South Federal Place.
Offered at $2,500,000, fee simple, with a current cap rate of 4.7% (NNN). The offering will appeal to an investor who wants a well located downtown asset with an established occupant, and to a future owner user planning for long term space in the core of the city. Tenancy and financial information will be provided to qualified purchasers upon execution of a confidentiality agreement. Tours are by appointment through the listing brokers.
Property is in foreclosure and receivership. Sale subject to approval by the court and the receiver. Seller has limited knowledge of the recent financial performance of the property and its physical condition due to the receivership. Buyer must perform due diligence with limited information provided by seller and receiver and obtain its own information to be satisfied with the property.
Building area per a 2018 appraisal measurement and includes the ±409 SF lower level. All measurements are approximate. Information deemed reliable but not guaranteed. Buyer to verify. Cooperating brokers welcome. Equal Housing Opportunity.
Listing brokers:
Tai Bixby, CCIM, SIOR, Associate Broker, NM License 40315, 505.577.3524, tai@tba.team
Jacob Rocker, CCIM, Associate Broker, NM License 52736, 505.226.3929, jacob@reanm.com
Real Estate Advisors, LLC, (505) 539-3200
Built in 1937 and located inside the Downtown and Eastside Historic District, the property has herringbone brick floors, divided light storefront windows, wood and glass doors, a fireplace, skylights, and the original bank vault. BCD zoning (Business Capitol District, Marcy Subdistrict) permits a broad range of office, retail, and residential uses, subject to city review.
The property sits in the 200 block of Washington Avenue, a short walk from the Santa Fe Plaza, the federal courthouse, the main public library, and the Santa Fe Community Convention Center. Parking is at the rear of the building, reached by a public alley off South Federal Place.
Offered at $2,500,000, fee simple, with a current cap rate of 4.7% (NNN). The offering will appeal to an investor who wants a well located downtown asset with an established occupant, and to a future owner user planning for long term space in the core of the city. Tenancy and financial information will be provided to qualified purchasers upon execution of a confidentiality agreement. Tours are by appointment through the listing brokers.
Property is in foreclosure and receivership. Sale subject to approval by the court and the receiver. Seller has limited knowledge of the recent financial performance of the property and its physical condition due to the receivership. Buyer must perform due diligence with limited information provided by seller and receiver and obtain its own information to be satisfied with the property.
Building area per a 2018 appraisal measurement and includes the ±409 SF lower level. All measurements are approximate. Information deemed reliable but not guaranteed. Buyer to verify. Cooperating brokers welcome. Equal Housing Opportunity.
Listing brokers:
Tai Bixby, CCIM, SIOR, Associate Broker, NM License 40315, 505.577.3524, tai@tba.team
Jacob Rocker, CCIM, Associate Broker, NM License 52736, 505.226.3929, jacob@reanm.com
Real Estate Advisors, LLC, (505) 539-3200
Location
State NM
County Santa Fe
Zoning BCD
Interior
Fireplace No
Exterior
Water Access Desc Public
Roof Type Flat
Present Use Office
Total Parking Spaces 10
Private Pool No
Building
Water Public
Others
Tax ID 12472250
Acceptable Financing Cash, Conventional, New Loan
Listing Terms Cash, Conventional, New Loan
Special Listing Condition Standard
Listed by Tai Bixby • Real Estate Advisors, LLC
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