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$ 9,000,000
Est. payment | /mo
2.02 Acres Lot
$ 9,000,000
Est. payment | /mo
2.02 Acres Lot
Key Details
Property Type Commercial
Sub Type Business
Listing Status Active
Purchase Type For Sale
MLS Listing ID 202602677
HOA Y/N No
Year Built 1985
Lot Size 2.020 Acres
Acres 2.02
Property Sub-Type Business
Property Description
Jacob Rocker and Tom Jenkins with Real Estate Advisors are pleased to present the sale of St. Michael's Medical Park. The asset is positioned at the entrance to the Christus St. Vincent healthcare campus — a physically unified complex comprising northern New Mexico's premier regional hospital and newly built 80,000 SF cancer
diagnostic and treatment center. Together they form the largest concentration of healthcare infrastructure in the region, serving a catchment area of 200,000+ residents across four counties.
The property is 100% occupied by nine tenants with an NOI of $576,000. Rents are 8% below market creating a clear mark-to-market opportunity as demand continues to grow from the adjacent healthcare hub. At $450–$550/SF to build equivalent medical office in Santa Fe, this asset trades at a significant discount to replacement cost. No competing supply can be built; zoning constraints, historic preservation requirements, and construction economics that require $38–$40/RSF rents to pencil — well above the current $25.00 market — make new development infeasible.
Investors are invited to submit offers based on their independent underwriting.
This is an irreplaceable asset, at a below-replacement-cost basis, in front of a $100M demand catalyst, in a market with permanent supply constraints.
diagnostic and treatment center. Together they form the largest concentration of healthcare infrastructure in the region, serving a catchment area of 200,000+ residents across four counties.
The property is 100% occupied by nine tenants with an NOI of $576,000. Rents are 8% below market creating a clear mark-to-market opportunity as demand continues to grow from the adjacent healthcare hub. At $450–$550/SF to build equivalent medical office in Santa Fe, this asset trades at a significant discount to replacement cost. No competing supply can be built; zoning constraints, historic preservation requirements, and construction economics that require $38–$40/RSF rents to pencil — well above the current $25.00 market — make new development infeasible.
Investors are invited to submit offers based on their independent underwriting.
This is an irreplaceable asset, at a below-replacement-cost basis, in front of a $100M demand catalyst, in a market with permanent supply constraints.
Location
State NM
County Santa Fe
Zoning H-Z
Interior
Fireplace No
Exterior
Parking Features Parking Lot
Utilities Available Electricity Available
Water Access Desc Public
Present Use Office
Private Pool No
Building
Water Public
Others
Tax ID 12857999
Acceptable Financing Conventional
Listing Terms Conventional
Special Listing Condition Standard
Listed by Jacob Rocker • Real Estate Advisors, LLC
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