1424 & 1426 State St.
Santa Barbara, CA 93101 ·
15,094 SF · Retail For Sale
1424 & 1426 State Street
|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|
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.
- 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.
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