304 Johnson

Description

Since 2013, the property has been home to Terracotta Wine Bistro, a well-established and highly regarded restaurant known for its award-winning cuisine and curated wine list. The restaurant's success and reputation have contributed to a stable, long-term commercial tenancy that provides consistent income. Their continued presence not only adds credibility and vibrancy to the property but also ensures a level of operational continuity that appeals to investors seeking dependable returns. The property presents a compelling value-add opportunity through the conversion of its long-term residential rental units into short-term hospitality accommodations. With Santa Fe's strong tourism market, short-term rentals command significantly higher rates, offering the potential for increased cash flow. Additionally, an underutilized garage space could be converted into heated square footage, potentially allowing for the addition of a third studio unit. These upgrades would enhance both the income potential and overall value of the property.