High Quality, Multi-Tenant Office Building I-25 Visibility ......Memorandum Cole Flanagan, CPA, MBA cell 505 235 7585 [email protected] Jake Mechenbier cell 505 917 5514 [email protected]

High Quality, Multi-Tenant Office Building | I-25 VisibilityValue-Add Investment or Owner-User Potential

6801 Jefferson St. NE, Suite 200 | Albuquerque NM 87109 office 1 505 878 0001 | www.IPArealty.com

2945 Rodeo Park Drive East | Santa Fe, NM 87505

A division of NAI Maestas & Ward

OfferingMemorandum

Cole Flanagan, CPA, MBAcell 505 235 7585 [email protected]

Jake Mechenbiercell 505 917 5514 [email protected]

Doug RobertsdRoberts Realty LLC

505 629 [email protected]

In cooperation withPresented by

Offering Memorandum | 2A division of NAI Maestas & Ward

The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving from NAI Maestas & Ward and should not be made available to any other person or entity without the written consent of NAI Maestas & Ward. This Marketing Brochure has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation.

NAI Maestas & Ward has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCBs or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable; however, NAI Maestas & Ward has not verified, and will not verify, any of the information contained herein, nor has NAI Maestas & Ward conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein.

ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONSULT A NAI MAESTAS & WARD OR dROBERTS REALTY, LLC ADVISOR FOR MORE DETAILS.

ConfidentialDisclaimer


InvestmentHighlights

Investment Property Advisors and dRoberts Realty LLC are pleased to offer for sale a high quality, two story, multi-tenant office building located at 2945 Rodeo Park Dr. East in Santa Fe, New Mexico. This office building is positioned near St. Francis and Interstate 25, with excellent visibility and exposure from Interstate 25. The building’s location offers convenient access to both Interstate 25 and St. Francis Dr., as well as the Rail Runner Station.

The approximately +/-25,109 sq. ft. building is situated on about +/-1.51 acres. This investment is flexible in that it can be a value-add investment or has the ability to cater to an owner-user with supplemental income. The current vacancy at the property is just over 8,000 sq. ft. Santa Fe features high barriers to entry and it is difficult to find quality product near $100/sq. ft. The property currently has a mix of government and local tenants operating under full service leases.

This investment benefits from the low price per square foot, significant upside through lease up or owner-occupant, and its convenient location offers convenient access and excellent visibility. Substantial upside in lease up combined with the excellent location make this property an opportunity on which an investor can capitalize.

� Value-Add Investment or Owner-User potential

� Low Price/SF: $106.54/SF

� Building Size: ±25,109 sq. ft.

� Land Size: ±1.51 acres

� ±8,171 sq. ft. of vacancy for lease up

� Convenient Location

� Strategically located near the major intersection of St. Francis & Interstate 25

� Over 62,400 cars per day

� Convenient access to Interstate 25

� Close proximity to Rail Runner Station

� Excellent visibility and exposure from Interstate 25

� Mix of government and local tenants

Offering SummaryPurchase Price $2,675,000

Price per Square Foot $106.54

Net Operating Income $219,643

CAP Rate 8.21%

Lease Type Full Service

HIGHLIGHTS


Amount $/SFGross Projected Rent $432,172 17.21

Vacancy (15%) $(64,826) (2.58)

ADJUSTED GROSS INCOME $367,346 14.63

Estimated Operating Expenses

Insurance $10,279 0.41

Management Fees $20,247 0.81

Property Taxes $31,831 1.27

Fire Protection Services $3,047 0.12

Janitorial $28,376 1.13

Service Contracts $7,684 0.31

Repairs & Maintenance $11,035 0.44

Supplies $2,815 0.11

Reserve for Deferred Maintenance $5,821 0.23

Utilities-Electric $17,027 0.68

Utilities-Gas $4,162 0.17

Utilities-Water $3,018 0.12

Utilities-Sewer $606 0.02

Utilities-Refuse $1,755 0.07

TOTAL OPERATING EXPENSES $147,703 5.88

NET OPERATING INCOME $219,643 8.75

ProformaOperatingSummary

Camino Carlos Rey

285

S I TE

St. Francis Dr.

Rodeo Dr.

Rodeo Dr.

Yucca St.

Rodeo Dr.

W. Zia Rd.

Rode

o Par

k Dr

.

Rail Runner

Rail Runner

Sawmill Rd.

25

STATION

MilagroMiddle School

St. Michael’sHigh SchoolSanta Fe

High School

Java Joe’s

Kearney Elementary School

Chaparral Elementary School

Ragle Park

Herb Martinez Park

Memorial Gardens

LaderaGolf Course

Premier Distributing

The MontecitoAssisted Living

Pacifica Senior Living

Christus St. VIncent

Posa’s El Merendero Restaurant

Class A 188 Unit Apartment ComplexUnder Construction

CPD 45,690

CPD 8,025

CPD

24,

694


PropertyAerial

Rode

o Par

k Dr

. Eas

t

I-25

Sou

th O

n Ram

p

Rodeo Park Dr. West Eye Associates

of New Mexico

Intermountain Region Office

Presbyterian Medical Services

National Center for Genome Resources

S I T E

Rosemont Assisted Living

of Santa Fe


PropertySite

Santa Fe

S I TE

25

25

285


1 Mile 3 Mile 5 Mile

Demographic and Income Profile2945 Rodeo Park Dr E, Santa Fe, New Mexico, 87505 Prepared by EsriRing: 1 mile radius Latitude: 35.63584

Longitude: -105.96057

Summary Census 2010 2017 2022Population 4,994 4,909 4,957Households 2,426 2,372 2,394Families 1,259 1,196 1,189Average Household Size 2.04 2.06 2.06Owner Occupied Housing Units 1,411 1,367 1,363Renter Occupied Housing Units 1,014 1,006 1,030Median Age 46.4 48.5 49.7

Trends: 2017 - 2022 Annual Rate Area State NationalPopulation 0.19% 0.32% 0.83%Households 0.18% 0.26% 0.79%Families -0.12% 0.09% 0.71%Owner HHs -0.06% 0.27% 0.72%Median Household Income 1.59% 1.80% 2.12%

2017 2022 Households by Income Number Percent Number Percent

<$15,000 242 10.2% 231 9.6%$15,000 - $24,999 235 9.9% 215 9.0%$25,000 - $34,999 190 8.0% 169 7.1%$35,000 - $49,999 322 13.6% 288 12.0%$50,000 - $74,999 549 23.1% 530 22.1%$75,000 - $99,999 291 12.3% 313 13.1%$100,000 - $149,999 348 14.7% 412 17.2%$150,000 - $199,999 111 4.7% 130 5.4%$200,000+ 85 3.6% 105 4.4%

Median Household Income $56,575 $61,213Average Household Income $73,594 $83,520Per Capita Income $35,792 $40,562

Census 2010 2017 2022 Population by Age Number Percent Number Percent Number Percent

0 - 4 250 5.0% 223 4.5% 223 4.5%5 - 9 233 4.7% 202 4.1% 187 3.8%10 - 14 232 4.6% 216 4.4% 205 4.1%15 - 19 263 5.3% 227 4.6% 213 4.3%20 - 24 251 5.0% 288 5.9% 277 5.6%25 - 34 570 11.4% 579 11.8% 607 12.2%35 - 44 591 11.8% 510 10.4% 510 10.3%45 - 54 800 16.0% 658 13.4% 577 11.6%55 - 64 982 19.7% 909 18.5% 838 16.9%65 - 74 459 9.2% 690 14.1% 813 16.4%75 - 84 242 4.8% 273 5.6% 364 7.3%

85+ 122 2.4% 135 2.7% 145 2.9%Census 2010 2017 2022

Race and Ethnicity Number Percent Number Percent Number PercentWhite Alone 4,017 80.5% 3,871 78.9% 3,866 78.0%Black Alone 57 1.1% 73 1.5% 87 1.8%American Indian Alone 104 2.1% 113 2.3% 122 2.5%Asian Alone 98 2.0% 113 2.3% 128 2.6%Pacific Islander Alone 2 0.0% 3 0.1% 4 0.1%Some Other Race Alone 529 10.6% 541 11.0% 551 11.1%Two or More Races 186 3.7% 195 4.0% 200 4.0%

Hispanic Origin (Any Race) 2,182 43.7% 2,218 45.2% 2,294 46.3%Data Note: Income is expressed in current dollars.

Source: U.S. Census Bureau, Census 2010 Summary File 1. Esri forecasts for 2017 and 2022.

March 05, 2018

©2018 Esri Page 1 of 6




Trends: 2017 - 2022 Annual Rate Area State NationalPopulation 0.19% 0.32% 0.83%Households 0.18% 0.26% 0.79%Families -0.12% 0.09% 0.71%Owner HHs -0.06% 0.27% 0.72%Median Household Income 1.59% 1.80% 2.12%


<$15,000 242 10.2% 231 9.6%$15,000 - $24,999 235 9.9% 215 9.0%$25,000 - $34,999 190 8.0% 169 7.1%$35,000 - $49,999 322 13.6% 288 12.0%$50,000 - $74,999 549 23.1% 530 22.1%$75,000 - $99,999 291 12.3% 313 13.1%$100,000 - $149,999 348 14.7% 412 17.2%$150,000 - $199,999 111 4.7% 130 5.4%$200,000+ 85 3.6% 105 4.4%



0 - 4 250 5.0% 223 4.5% 223 4.5%5 - 9 233 4.7% 202 4.1% 187 3.8%10 - 14 232 4.6% 216 4.4% 205 4.1%15 - 19 263 5.3% 227 4.6% 213 4.3%20 - 24 251 5.0% 288 5.9% 277 5.6%25 - 34 570 11.4% 579 11.8% 607 12.2%35 - 44 591 11.8% 510 10.4% 510 10.3%45 - 54 800 16.0% 658 13.4% 577 11.6%55 - 64 982 19.7% 909 18.5% 838 16.9%65 - 74 459 9.2% 690 14.1% 813 16.4%75 - 84 242 4.8% 273 5.6% 364 7.3%

85+ 122 2.4% 135 2.7% 145 2.9%Census 2010 2017 2022

Race and Ethnicity Number Percent Number Percent Number PercentWhite Alone 4,017 80.5% 3,871 78.9% 3,866 78.0%Black Alone 57 1.1% 73 1.5% 87 1.8%American Indian Alone 104 2.1% 113 2.3% 122 2.5%Asian Alone 98 2.0% 113 2.3% 128 2.6%Pacific Islander Alone 2 0.0% 3 0.1% 4 0.1%Some Other Race Alone 529 10.6% 541 11.0% 551 11.1%Two or More Races 186 3.7% 195 4.0% 200 4.0%



March 05, 2018





Trends: 2017 - 2022 Annual Rate Area State NationalPopulation 0.62% 0.32% 0.83%Households 0.65% 0.26% 0.79%Families 0.38% 0.09% 0.71%Owner HHs 0.70% 0.27% 0.72%Median Household Income 1.39% 1.80% 2.12%


<$15,000 2,550 13.5% 2,549 13.1%$15,000 - $24,999 2,270 12.0% 2,171 11.2%$25,000 - $34,999 1,817 9.6% 1,693 8.7%$35,000 - $49,999 2,577 13.7% 2,390 12.3%$50,000 - $74,999 3,664 19.4% 3,669 18.8%$75,000 - $99,999 2,045 10.8% 2,291 11.8%$100,000 - $149,999 2,233 11.8% 2,697 13.9%$150,000 - $199,999 780 4.1% 927 4.8%$200,000+ 916 4.9% 1,082 5.6%



0 - 4 2,023 5.3% 1,900 4.7% 1,936 4.7%5 - 9 1,903 5.0% 1,827 4.6% 1,794 4.3%10 - 14 1,882 4.9% 1,877 4.7% 1,885 4.6%15 - 19 1,955 5.1% 1,863 4.6% 1,890 4.6%20 - 24 1,990 5.2% 2,177 5.4% 2,120 5.1%25 - 34 4,396 11.4% 4,506 11.2% 4,662 11.3%35 - 44 4,734 12.3% 4,539 11.3% 4,595 11.1%45 - 54 5,678 14.8% 5,117 12.8% 4,862 11.8%55 - 64 6,762 17.6% 6,732 16.8% 6,290 15.2%65 - 74 3,936 10.3% 5,629 14.0% 6,404 15.5%75 - 84 2,148 5.6% 2,669 6.7% 3,527 8.5%

85+ 987 2.6% 1,231 3.1% 1,366 3.3%Census 2010 2017 2022

Race and Ethnicity Number Percent Number Percent Number PercentWhite Alone 30,190 78.6% 30,968 77.3% 31,679 76.6%Black Alone 389 1.0% 515 1.3% 620 1.5%American Indian Alone 830 2.2% 968 2.4% 1,064 2.6%Asian Alone 520 1.4% 657 1.6% 760 1.8%Pacific Islander Alone 29 0.1% 38 0.1% 45 0.1%Some Other Race Alone 5,037 13.1% 5,375 13.4% 5,543 13.4%Two or More Races 1,398 3.6% 1,547 3.9% 1,619 3.9%



March 05, 2018





Trends: 2017 - 2022 Annual Rate Area State NationalPopulation 0.80% 0.32% 0.83%Households 0.81% 0.26% 0.79%Families 0.61% 0.09% 0.71%Owner HHs 0.86% 0.27% 0.72%Median Household Income 1.42% 1.80% 2.12%


<$15,000 5,298 14.0% 5,393 13.7%$15,000 - $24,999 4,810 12.7% 4,652 11.8%$25,000 - $34,999 3,798 10.0% 3,554 9.0%$35,000 - $49,999 4,991 13.2% 4,659 11.8%$50,000 - $74,999 6,930 18.3% 6,967 17.6%$75,000 - $99,999 4,088 10.8% 4,637 11.7%$100,000 - $149,999 4,444 11.7% 5,429 13.7%$150,000 - $199,999 1,563 4.1% 1,847 4.7%$200,000+ 2,026 5.3% 2,364 6.0%



0 - 4 4,561 5.7% 4,402 5.2% 4,569 5.2%5 - 9 4,316 5.4% 4,283 5.1% 4,339 5.0%10 - 14 4,341 5.4% 4,365 5.2% 4,485 5.1%15 - 19 4,364 5.5% 4,363 5.2% 4,442 5.1%20 - 24 4,573 5.7% 4,979 5.9% 4,948 5.7%25 - 34 9,875 12.4% 10,249 12.2% 10,704 12.2%35 - 44 10,125 12.7% 9,849 11.7% 10,176 11.6%45 - 54 11,656 14.6% 10,765 12.8% 10,223 11.7%55 - 64 12,917 16.2% 13,347 15.9% 12,644 14.5%65 - 74 7,396 9.3% 10,715 12.7% 12,317 14.1%75 - 84 3,896 4.9% 4,712 5.6% 6,349 7.3%

85+ 1,637 2.1% 2,030 2.4% 2,286 2.6%Census 2010 2017 2022

Race and Ethnicity Number Percent Number Percent Number PercentWhite Alone 61,551 77.3% 63,642 75.7% 65,658 75.1%Black Alone 783 1.0% 1,041 1.2% 1,264 1.4%American Indian Alone 1,713 2.2% 2,035 2.4% 2,280 2.6%Asian Alone 1,027 1.3% 1,293 1.5% 1,513 1.7%Pacific Islander Alone 66 0.1% 89 0.1% 107 0.1%Some Other Race Alone 11,585 14.5% 12,672 15.1% 13,184 15.1%Two or More Races 2,932 3.7% 3,287 3.9% 3,475 4.0%



March 05, 2018


Demographics1, 3 & 5 Miles

Santa FeTrade AreaAnalysis


Santa Fe by the Numbers (ESRI 2017 Demographics)

Santa Fe | The City Different and the State CapitalThe oldest capital city in the United States and the oldest city in New Mexico, Santa Fe is well-known as a center for arts that reflects the multicultural character of the city. Tourism is a major element of the Santa Fe economy, with visitors attracted year-round by the climate and related outdoor activities (such as skiing in years of adequate snowfall; hiking in other seasons) plus cultural activities of the city and the region. Most tourist activity takes place in the historic downtown, especially on and around the Plaza, a one-block square adjacent to the Palace of the Governors, the original seat of New Mexico’s territorial government since the time of Spanish colonization. Other areas include Canyon Road and “Museum Hill”, the site of the major art museums of the city as well as the Santa Fe International Folk Art Market, which takes place each year during the second full weekend of July.

Ski Santa Fe

Española

±65

mi.

from

Albuquerque

SANTA FE ART REPORT CARD Santa Fe Accolades

A half-mile stretch of Santa Fe’s Canyon Road has more than 100 galleries, boutiques and restaurants “making it the world’s densest concentration of art galleries,” according to the

Four Seasons website

19minutes:

average commute

SKI SANTA FE

averages 225 inches of snow a year.

Santa Fe is the third-largest art market in the United States, after New York and Los Angeles.

#1 Best Shopping Destination in the West by Sunset#4 Best Food Town in the West by Sunset#4 Best Cities in the United States by Travel and Leisure #2 Best Small City in the US by Conde Nast Reader’s Choice #6 Best Small City in the World by Conde Nast Reader’s ChoiceTop Treks for your Family by Trekaroo#2 Cleanest Air by American Lung AssociationDestinations on the Rise TripAdvisor Travelers’ Choice Winner#3 for Visitor Experience from Travel and Leisure5th Most Romantic City by Livability.com#1 Cultural Getaway from Travel and Leisure

Santa Fe(COUNTY

METRO AREA)

Santa Fe

CITY CONTEXT

Albuquerque

Santa Fe

Albuquerque

FOUNDED IN 1608, SANTA FE IS THE OLDEST STATE CAPITAL IN THE UNITED STATES

SANTA FE | Metro Area

Santa Fe Municipal Airport

offers daily commercial flights connecting

Northern New Mexico to the world.

151,567 MSA Population

$76,589 Average Household Income

65,022 Households

$44,737 Median Disposable Income

8,430 Total Businesses

The State

Capital 94,096

Total Employees

25

2525

40

4040

40

Documents

High Quality, Multi-Tenant Office Building I-25 Visibility ......Memorandum Cole Flanagan, CPA, MBA cell 505 235 7585 [email protected] Jake Mechenbier cell 505 917 5514 [email protected]