1127 Santa Clara Peak Rd

    Espanola, NM 87532
    • $4,399,000
    • STATUS: Active
    • ON SITE: 55 days
    • MLS #: 201905481
    UPDATED: 47 min ago
    $4,399,000
    • 0
      BEDS
    • N/A
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 12,512
      SQFT
    • $352
      $/SQFT
    Neighborhood:
    Type:
    Commercial
    County:
    Area:

    School Ratings & Info

    Description

    The Courthouse is leased to the State of New Mexico with approximately 12 years remaining on the lease. The lease is full service with annual fixed escalations. The investment is offered at a 6.5% capitalization rate based on the 2019 NOI of $287,275 with gross income of $359,341 and expenses of $72,066. Built in 2007, the 13,512sf building is in class-A condition both inside and out. The expenses for 2019 include actual contracts which can be renewed at the buyers discretion. Each county in New Mexico is mandated to have a Magistrate Courthouse. The Rio Arriba County Courthouse was relocated to its present location when the original building could not be expanded. Because of the unique and stringent requirements for a courthouse, there is over 98% lease renewal rate for a state judicial building. To accommodate future growth if required, the lot provides for at least 40% expansion for improvement and parking.

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    © 2020 Santa Fe Association of REALTORS®, Inc. MLS. All rights reserved. The data relating to real estate for sale in this web site comes in part from the Internet Data Exchange ("IDX") program of SFAR MLS, Inc. Real estate listings held by brokers other than The Desmond Hamilton Group are marked with the IDX Logo. All data in this web site is deemed reliable but is not guaranteed. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated 2020-02-17T13:51:47.22.
    www.homesinsantafenm.com/homes/101875857

    1127 Santa Clara Peak Rd Espanola, NM 87532

    • Price: $4,399,000
    • Status: Active
    • Updated: 47 min ago
    • MLS #: 201905481
    0
    Beds
    0
    Baths
    0
    ½ Baths
    N/A
    Acres
    12,512
    SQFT
    $352
    $/SQFT
    Neighborhood:
    31-Espanola
    County:
    Rio Arriba
    Area:
    31-Espanola
    Property Description
    The Courthouse is leased to the State of New Mexico with approximately 12 years remaining on the lease. The lease is full service with annual fixed escalations. The investment is offered at a 6.5% capitalization rate based on the 2019 NOI of $287,275 with gross income of $359,341 and expenses of $72,066. Built in 2007, the 13,512sf building is in class-A condition both inside and out. The expenses for 2019 include actual contracts which can be renewed at the buyers discretion. Each county in New Mexico is mandated to have a Magistrate Courthouse. The Rio Arriba County Courthouse was relocated to its present location when the original building could not be expanded. Because of the unique and stringent requirements for a courthouse, there is over 98% lease renewal rate for a state judicial building. To accommodate future growth if required, the lot provides for at least 40% expansion for improvement and parking.
    Exterior Features

    Access Type Ada Parking Facilities Parking LotPaved Roof Other - See Remarks

    Interior Features

    Sq Ft Total Building 5000+

    Property Features

    Authority Espanola City Bank Owned No Building Use Other - See Remarks Commercial Type Investment Lease Type Other - See Remarks Owner Pays Other - See Remarks Possession At Closing Tenant Pays Other - See Remarks

    Listing provided courtesy of Douglas Roberts of Droberts Realty Llc. © 2020 Santa Fe Association of REALTORS®, Inc. MLS. All Rights Reserved.


    © 2020 Santa Fe Association of REALTORS®, Inc. MLS. All rights reserved. The data relating to real estate for sale in this web site comes in part from the Internet Data Exchange ("IDX") program of SFAR MLS, Inc. Real estate listings held by brokers other than The Desmond Hamilton Group are marked with the IDX Logo. All data in this web site is deemed reliable but is not guaranteed. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated 2020-02-17T13:51:47.22.
     
    The Desmond Hamilton Group
    326 Grant Ave
    Santa Fe NM, 87501