$3,300,000

1005 South Saint Francis Drive , Santa Fe, NM 87505

 
Bedrooms:0 beds
Bathrooms:0 baths
Commercial Sale:0 sqft
Lot:0.61
Year Built:--
Listing Status:Active

Listing Agent

Tai Bixby
Loan Amount:
Interest:
Term (Years):
Annual Tax:
Monthly Principal + Interest:$
Monthly tax: $
Total Payment:$

These amounts are estimates and do not take into consideration other expenses such as PMI, etc.. This is only an estimate.

Description

This restaurant building with excess land is one of the last developable sites near the center of Santa Fe for retail. The existing structure can be updated and expanded, or the site can be cleared to develop an entirely new concept. The real estate is an offering of several components of a commercial condominium known as the Pen Road Center Condominium, branded “Crossroads Center” at 1005 South St Francis Drive in Santa Fe, New Mexico. The existing building houses Tiny’s Restaurant and Lounge, a local favorite for decades. The building constitutes condominium unit A and which measures 5,051sf as well as the associated limited common elements which include a 1,100 sf interior patio. The building (Unit A) and associated parking are on the Parcel C Reserved Development Right (“RDR”) measuring 22,267sf± plus a triangular parcel measuring 4,160sf. The triangle can be added to the condominium and the excess land can be developed for more retail. Under the New Mexico Condominium Act, and per the terms of the Condominium Declaration, the RDR can be converted to up to 6 condominium units once construction of the new units have been substantially completed. The Parcel C RDR expires on June 25, 2025. In addition, the offering includes a 50% undivided interest in the Parcel B RDR. The other 50% undivided interest belongs to another owner who also owns reserved development rights in Parcel A. See condominium plat later in this offering memo for details. Development of Parcel B RDR would require consent and cooperation of both the owners of the Parcel B RDR but would not require consent of the condominium association. Parcel B currently used for parking and cross access. Construction on the Reserved Development Rights is subject to permitting and development requirements of the City of Santa Fe and depends on factors like the intended use, parking requirements, access, traffic and other factors. Cannabis not allowed at this location due to proximity to other licensees.

Detailed Items

Other Information

1005 South Saint Francis Drive, Santa Fe, NM, 87505 is a commercial sale listing of 0 sqft on a lot of 0.61. This commercial sale listing has 0 bedrooms, and 0 baths. The map for this location can be viewed on Google maps at Google maps to property1005 South Saint Francis Drive, Santa Fe, NM
Copyright © 2025 Santa Fe Association of REALTORS®, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

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