Pen Road Assemblage - Transit Oriented Development Opportunity

Retail-Commercial for Sale
Sale Pending
Catylist Listing ID: 29934342
Property Subtypes: Street Retail
Status: Pending
Building Size (RSF): 21,167 SF
Gross Land Area: 2.34 Acres
Sale Price: $3,900,000
Unit Price: $184.25 PSF
Property Use Type: Investment
Building Name: Pen Road Assemblage
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 11/20/2017

Overview / Comments

Once in a lifetime commercial development opportunity in Santa Fe, New Mexico. Four commercial parcels near the intersection of St Francis Dr and Cerrillos Rd in Santa Fe, NM. Located adjacent to former Whole Foods and Walgreens. Easy walking distance to Rail Runner Station and the Railyard. C-2 zoning for heavy commercial use. Ideal site for infill and/or redevelopment, retail, and multifamily. City of Santa Fe plans to build rail trail on Pen Rd. Existing cash flow from multiple residential and commercial units helps carry the property during planning and permitting.

• 42,000 CPD St Francis
• $182,419 NOI in 2016
• C-2 Zoning
• Walk to shopping, dining & entertainment
• Next to Whole Foods
• Walk to light rail stop

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

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