Listing Details

Property Description

Plaza Mercado occupies a full block in downtown Santa Fe, half a block from the Plaza, with pedestrian frontage on West San Francisco Street, Galisteo Street and West Water Street. The property offers approximately 60, 576 square feet of retail and office space on three levels arranged around a skylit central atrium, connected by an interior stair and a glass-walled elevator. The buildings began as three separate structures dating to 1890, 1942 and approximately 1960, combined and substantially renovated in 1982. Storefronts open directly to the sidewalk on all three streets, while interior suites and upper-floor tenants are reached through the atrium. Select second-floor suites have balconies overlooking it. Zoning is BCD, Business Capital District, within the downtown historic overlay, permitting retail, office and residential uses. The property has no dedicated on-site parking and is a legal non-conforming use as to parking. Street parking and nearby public lots serve the building. The property is offered as a multi-tenant investment across 58 commercial suites, of which 55 are occupied and 3 are vacant. Financial information, the rent roll and the leases are available to qualified purchasers upon execution of a confidentiality agreement. Property is in foreclosure and receivership. Sale subject to approval by the court and the receiver. Seller has limited knowledge of the recent financial performance of the property and its physical condition due to the receivership. Buyer must perform due diligence with limited information provided by Seller and Receiver and obtain its own information to be satisfied with the property. Seller will be limited in its ability to make representations and warranties upon sale. Square footage is approximate and taken from a 2018 appraisal. Information deemed reliable but not guaranteed, buyer to verify. Equal Housing Opportunity. Cooperating brokers welcome.