Pen Road Assemblage - Transit Oriented Development Opportunity

Expired Retail-Commercial for Sale
Catylist Listing ID: 29934342
Property Subtypes: Street Retail
Building Size (RSF): 14,587 SF
Gross Land Area: 1.74 Acres
Sale Price: $3,200,000
Unit Price: $219.37 PSF
Property Use Type: Investment
Building Name: Pen Road Assemblage
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Expired On: 7/17/2017
Last Updated: 7/17/2017

Overview / Comments

Three commercial parcels near the intersection of St Francis Dr and Cerrillos Rd in Santa Fe, NM. Located adjacent to Whole Foods and Walgreens. Easy walking distance to Rail Runner Station and the Santa Fe Railyards with shopping, movies, dining & entertainment. C-2 Zoning allows most commercial uses. Ideal site for infill and/or redevelopment, retail, and multifamily. City of Santa Fe plans to build rail trail on Pen Rd. connecting to the Santa Fe Railyard. Existing cash flow from multiple residential and commercial units helps carry the property during planning and permitting. Once in a lifetime development opportunity in one of the best locations in Santa Fe.

• 42,000 CPD St Francis
• $100,400 NOI in 2015
• C-2 Zoning
• Walk to shopping, dining & entertainment
• Next to Whole Foods
• Walk to light rail stop

Attachments & Media

Additional Details

Nearest MSA: Alamogordo
County: Santa Fe
Tax ID/APN: 1053098279261000000
Property Located Between: West Cordova Road
Area Description: Next to Whole Foods and Walgreens. Walking distance to light rail stop, Trader Joes, Pharmaca, Wells Fargo Bank, KFC, Dunkin Donuts, Santa Fe Railyards, US Eagle Credit Union, 1 Hr Martinizing drycleaners, Ohori's Coffee. Near the intersection of St Francis Drive and Cerrillos Road, with 42,000 cars per day. 19,000 CPD on Cordova Road. Prime infill development site.
Tenancy: Multiple Tenants
Year Built: 1921
Parking Type: Surface
Land Ownership: Fee simple

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 12,771 51,649 71,961
Median Age: 46.61 48.07 44.17
Households: 6,589 25,707 33,275

Contact

Photograph of Listing Agent

Tai Bixby

Keller Williams Realty - Santa Fe CARNM CIE Member

Source

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