220 & 224 W Manhattan Ave, Santa Fe, NM 87501 | 220 W Manhattan Ave
This feature is unavailable at the moment.
We apologize, but the feature you are trying to access is currently unavailable. We are aware of this issue and our team is working hard to resolve the matter.
Please check back in a few minutes. We apologize for the inconvenience.
- LoopNet Team
thank you
Your email has been sent!
220 & 224 W Manhattan Ave, Santa Fe, NM 87501 220 W Manhattan Ave
9,766 SF 100% Leased Retail Building Santa Fe, NM 87501 $4,499,000 ($461/SF) 9% Cap Rate
Executive Summary
The Parador, a boutique hotel with a rich history located in beloved Santa Fe, NM, an internationally prized destination in the Mountain Southwest. The Parador is housed in the remaining parts of what was a 200+ year old farm with a vibrant past, tucked away on West Manhattan and walking distance to the Plaza, Canyon Road and the Railyard District. The hotel offering has 15 rooms, with an additional Gift Shop Building which could be transformed into 2 Luxury Suites or reimagined as a spa or restaurant. The property was lovingly renovated and restored by renowned designers who acquired it in 2018. Care has been taken to respect the building’s authenticity, revealing its history while incorporating heirloom quality and contemporary style. The owners have spent the last years renovating, reconstructing and rebranding the assets. The Farmhouse was built at the turn of the 19th-century when New Mexico was still under Spanish rule. The double adobe structure served as a family home for over a century and a half, undergoing its first remodel in the early 1900’s with Victorian details added throughout the home. In the 1960’s, at the peak of the Rainbow Coalition’s gatherings in the surrounding areas, the space became a religious commune at which point the barn and stables were adopted and transformed into living quarters. As a commune, all that were hungry or in need of a bed were welcome. It wasn’t until the late 1970’s that the second story was added in Northern New Mexico Territorial style; entering into its new life as an inn. The Parador is a wonderful property with a rich history that offers a wonderful opportunity to add more value and operate as a cash flowing hotel.
Property Facts
Sale Type
Investment
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
9,766 SF
Building Class
B
Year Built/Renovated
1823/2018
Price
$4,499,000
Price Per SF
$461
Cap Rate
9%
NOI
$404,910
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
1.14
Land Acres
0.20 AC
Zoning
BCD
Parking
5 Spaces (0.51 Spaces per 1,000 SF Leased)
Frontage
70 FT on West Manhattan Avenue
Walk Score ®
Very Walkable (89)
Bike Score ®
Very Bikeable (77)
Nearby Major Retailers
PROPERTY TAXES
Parcel Number | 099307240 | Improvements Assessment | $352,684 |
Land Assessment | $243,930 | Total Assessment | $596,614 |
PROPERTY TAXES
Parcel Number
099307240
Land Assessment
$243,930
Improvements Assessment
$352,684
Total Assessment
$596,614
Learn More About Investing in Retail Properties
1 of 52
VIDEOS
3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
Presented by
220 & 224 W Manhattan Ave, Santa Fe, NM 87501 | 220 W Manhattan Ave
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.