1 Calle Medico
Santa Fe, NM 87505

Net leased office condominium investment leased to successful and long standing accounting firm Zlotnick and Laws PC. One unit of a two unit condominium well located near the hospital, medical offices, professional offices on Santa Fe's southeast side. Thirteen parking spaces in a paved lot. Good visibility from Arroyo Chamiso and Old Pecos Trail. Tenant pays all expenses except outside maintenance. No condo fee, instead, each owner maintains its portion of the common areas. Three years left on the lease with 2% annual rent escalation. At the asking price of $650,000 measures of investment performance are GRM of 13.5, a cap rate of 7.38%, price per square foot of $223 and an after tax, post financing IRR of 11.3%.