This Retail Property is Off-Market.

1424 & 1426 State St.
Santa Barbara, CA 93101 ·

15,094 SF · Retail For Sale

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1424 & 1426 State Street

Price N/A No. Stories 1
Building Size 15,094 SF Tenancy Multiple
Property Type Retail Year Built 1972
Property Sub-type Free Standing Bldg Lot Size 1.64 AC
Property Use Type Net Lease Investment with 2 years left on lease APN / Parcel ID 039-072-020
Occupancy 100% Parking Ratio 3.80 / 1,000 SF
Listing ID: 17021511 Date Created: 02/10/2011 Last Updated: 09/15/2011

Description

PART OF A PORTFOLIO OF 12 CALIFORNIA COMMERCIAL PROPERTIES BEING OFFERED FOR SALE
THESE PROPERTIES MAY BE PURCHASED IN INCREMENTS OF ONE OR MORE

This Santa Barbara commercial property offers an investor an opportunity to acquire a rarely traded commercial property well located on the northern portion of historic State Street in the heart of downtown Santa Barbara, CA. 100% NNN leased to Internationally recognized credit tenants, Merrill Lynch and Sotheby' s International Realty, the two tenant commercial property offers an investor current stable cash flow, ease of management and pride of ownership. The lushly landscaped property consists of 15,094 SF of building GLA on 1.64 acres at the signalized intersection of State Street and Micheltorena Street. With over 295' of linear frontage on State Street, neighboring office, retail, education and church uses, the property attributes present a very desirable location for both office and certain retail/banking/restaurant type tenants.

The property is located on the NEC of State Street and Micheltorena Street, the main thoroughfare serving the city of Santa Barbara.

Highlights

  • Opportunity to acquire a rarely traded, commercial investment property in the highly desirable city of Santa Barbara, CA.
  • Stable income property is 100% leased to internationally recognized credit tenants, Merrill Lynch and Sotheby' s International Realty.
  • Historic State Street location, high barrier to entry city, and affluent trade area provide continued tenant interest correlating to high average offi
  • State Street location, high barrier to entry, and affluent trade area provide continued tenant interest correlating to high average occupancy levels.
  • Pride of ownership property offers Spanish architecture and extensively landscaped common areas, including sculpture and water fountain features.
  • Strong trade area demographics with over 70,700 people with an average household income over $87,700 within a 2 mile radius.

Research

1424 & 1426 State St., Santa Barbara, CA 93101 (Santa Barbara County)

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