Tag Archives: Santa Fe commercial real estate

Rare 35,005 sq. ft. Multi-Use Industrial Zoned Building in Valdes Business Park

MLS #201201673, Asking price $3,600,000

2520 Camino Entrada, Santa Fe, NM  87507

35,005 square feet, Lot size: 4.852 ac, Year built: 1973

Free standing, extra-large, multi-use building centrally located near the intersection of Camino Entrada and Cerrillos Road, just 1/10th of a mile west of Cerrillos Road.  Prime commercial location in the Valdes Business Park.

Approximately 24,000 square feet, currently used by Calvary Church, will be immediately available for new owners to use or rent. The remaining approximately 11,000 square feet are leased to 2 tenants on short term leases.

Rare I-1 (light industrial) zoning.  Many permitted uses including light manufacturing, processing, storage, warehousing, distribution and similar commercial uses.

Previously used as a light manufacturing plant that made auto parts.  Built in 1973 but extensively renovated in 2004.  Current owners spent approximately $1.2 million in renovations.

Ample parking with approximately 150+ parking spaces. Ceiling heights vary form 12 feet to 15 feet.

Church floor plan includes a foyer, a sanctuary, a school room section with multiple classrooms, 4 bathrooms, and a recreational area with basketball hoops.  APOD and NOI available upon request.

Two legal lots of record, with two ingress and egress.  Plenty of room to expand. Church has two ADA compliant entrances/exits.

 

Investors and users don’t miss this RARE opportunity!

Contact Karen Meredith, Keller Williams, at 505 603-3036 or Renee Edwards, Keller Williams, at 505 470-7773 to schedule an appointment now.

Income Producing Professional Office Space – just $135,000

3600 Rodeo Lane, Unit B-1

3600 Rodeo Lane, Unit #B-1, Santa Fe, NM 87507, Offering Price $135,000, MLS #201105532. Listing Agents, Karen Meredith, Keller Williams Realty, (505) 603-3036 and Renee Edwards, Keller Williams Realty, (505) 470-7773

Attention Income Investors!!!  Get a 5.4% return on just $135,000 for Professional Office Space, C-1 Zoned Condo along Rodeo Road Corridor

3600 Rodeo Lane, office

 

 

 

 

 

 

3600 Rodeo Lane, kitchenette

Tenant is number 118 on the Fortune 500 list. Newer and well maintained end unit with excellent parking. Convenient location near Sam’s Club and other shopping along Rodeo Road. 2 private offices with windows, 3rd interior space can be another office or conference room. Has a kitchenette area, bathroom and storage room. Cap rate is 5.4%.

Call Karen Meredith, Keller Williams Realty, (505) 603-3036 or Renee Edwards (505) 470-7773 FOR MORE INFORMATION. Lease available upon request.

Hike in building permits issued in Santa Fe could point to economic recovery

By Trip Jennings | The New Mexican
Posted: Sunday, July 10, 2011

This article is syndicated from The New Mexican.  For a complete copy of the original article, click here.

It’s not quite time to cue up “Let the Good Times Roll,” Shirley and Lee’s 1950s R&B classic. But maybe the Beatles’ “Here Comes the Sun” will do the trick.

The number of building permits issued by the city of Santa Fe has increased in recent months, tempting local officials to wonder whether the local economy is rebounding.

Matthew O’Reilly, Santa Fe’s land-use director, wouldn’t go that far Thursday, but confirmed that city staff members handling building permits are busier than a year ago. Cautioning that they were preliminary numbers, O’Reilly predicted the number of city-issued building permits for the year that just ended June 30 would eclipse the previous year’s total by 36 percent.

“We’re seeing a lot of commercial permits, and that includes new construction and remodels. And we are seeing a lot of additions, remodels and alterations in residential construction,” O’Reilly said. “What we are not seeing is new home production building.”

John Di Janni, a local builder, can relate.

Di Janni, who has built custom homes in Santa Fe since 1977, finished his last home in 2008 after several years of juggling work on three to four new homes at a time.

“We haven’t built a house since then,” he said. “There are some people who are lucky to land a new house, but they are few and far between.”

Custom Homes by John Di Janni has survived on remodeling jobs and additions to existing homes since then. About a year ago, Di Janni noticed that the number of calls for such work began to increase, he said.

“People want to update their homes, new windows, new stuccos; rather than buying new, they are fixing up their houses, it seems to me,” he said.

Tax data appear to confirm the construction trend. Spending in the city of Santa Fe rose significantly in a year-to-year comparison between April 2010 and this past April, when the city reported $19 million in taxable receipts in the construction industry compared with $11 million in the previous year, according to information from the New Mexico Taxation and Revenue Department.

The gross-receipts tax is generally a good indicator of economic activity because it is a levy not only on the purchase of goods but also of services. And, generally, growth in taxable receipts usually means more revenue for the city. A clearer picture will emerge when numbers come in for the months of May and June, the last two months of the fiscal year.

Even though it was only a snapshot, tax data for the city of Santa Fe in April appear promising. Transactions in the city that were subject to the gross-receipts tax were $202 million, nudging past the $197 million reported in April 2010 and the $200 million recorded in April 2009. April is the latest month for which information was available.

Optimists might be tempted to point to a ongoing recovery, but the data aren’t so easily interpreted. Yes, local economic activity this April was slightly better in a year-to-year-comparison, but it is still well below matching pre-recession levels. The taxable portion of the gross-receipts tax in April 2008 was $222 million, well above this April’s figures.

There are other signs that the local economy hasn’t fully recovered.

Retail trade, Santa Fe’s major gross-receipts tax generator, appears to have stayed flat, if not dropped slightly, in recent years. Retail transactions subject to the tax dipped to $67.8 million this April, down from $68.8 million in April 2010. That compares unfavorably to the $73.5 million reported in April of 2008 and $68.2 million in April 2009.

The snapshot of the city’s economic activity seems to coincide with what’s happening in New Mexico overall.

According to a recent report by the Legislative Finance Committee, the Legislature’s budget arm, state tax revenues are greater than expected. Through April, the state received $87 million more than anticipated.

Receipts from the state’s corporate income tax showed big growth, coming in nearly 200 percent over last year’s levels, the report noted. But higher-than-anticipated rebates from the state’s film production tax credit program are expected to eat into that growth, the report said.

“An unexpected rush to receive film refunds before the new tax credit law takes effect in FY12 has pushed full-year credits to approximately $101 million compared to the forecast of $65 million,” according to the LFC. The rebates totaled $65.9 million in the state budget year that ended June 30, 2010.

The LFC’s report was issued July 1, the first day of the new state budget year. It was also the day the new law changing the state’s film production tax credit program took effect.