1127 Santa Clara Peak Rd

$4,399,000

1 of 2

1127 Santa Clara Peak Rd

$4,399,000

  • 12512 sqft

Contact Presenting Broker

The David Cordova Group

The David Cordova Group

505.660.9744

Key Features

  • MLS: 201905481
  • Status: Active
  • Price: $4,399,000
  • Area: 31-Espanola
  • Type: Investment
  • Total Sqft: 12,512

About this Property

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.

Additional Features

  • Type: Investment
  • Days On Market: 444

Neighborhoods

Nambe Area

The areas to the north between Santa Fe and Taos possess some of the most spectacular and varied landscapes in New Mexico. Beautiful communities line the Taos Gorge and the Rio Grande like Espanola, Velarde & Dixon along what is called the 'Low Road' to Taos. The 'High Road' is a scenic, winding road through the Sangre de Cristo Mountains that runs between Santa Fe and Taos. Among the quaint

Schools

Listing Brokerage

IDX listing

Douglas Roberts

dRoberts Realty LLC

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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 Sotheby's International Realty ® are marked with the IDX logo. All data in this web site is deemed reliable but is not guaranteed.