This Retail Property is Off-Market.

900 State St.
Santa Barbara, CA 93101 ·

38,015 SF · Retail For Sale

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Santa Barbara Marshalls

Price N/A Occupancy 100%
Building Size 38,015 SF No. Stories 2
Property Type Retail Tenancy Single
Property Sub-type Free Standing Bldg Year Built 1960
Property Use Type Net Lease Investment with 4 years left on lease Lot Size 0.50 AC
Cap Rate 5%
Listing ID: 17334410 Date Created: 09/15/2011 Last Updated: 07/03/2012

Description

Santa Barbara Marshalls offers an investor the opportunity to acquire a rarely traded commercial property centrally located on the vibrant retail corridor of State Street in the heart of downtown Santa Barbara, CA. The single-tenant NNN-leased property offers a stable cash flow, ease of management and pride of ownership at a price that is substantially below replacement cost. The lushly landscaped property consists of 38,015 SF of building GLA on 0.50 acres at the signalized intersection of State Street and W. Canon Perdido Street. The property provides over 80 feet of frontage on State Street, a very popular pedestrian shopping destination across from Paseo Nuevo Shopping Center, anchored by Nordstrom and Macy' s. Retailers such as Apple, Forever 21, H&M and Anthropologie are located nearby on State Street.

Santa Barbara Marshalls is located on the vibrant retail corridor of State Street in the heart of downtown Santa Barbara, CA. The property provides over 80 feet of frontage on State Street at the signalized intersection with W. Canon Perdido Street. Santa Barbara's State Street is a very popular pedestrian shopping destination across from Paseo Nuevo Shopping Center, anchored by Nordstrom and Macy' s. Retailers such as Apple, Forever 21, H&M and Anthropologie are located nearby.

Highlights

  • Opportunity to acquire a rarely traded, commercial investment property in Santa Barbara, CA, an affluent California coastal city.
  • Single tenant NNN leased income property is 100% leased to Marshalls of California, LLC, a wholly-owned subsidiary of TJX Companies, Inc. (NYSE: TJX).
  • Stable cash flow.
  • Ease of management.
  • Substantially below replacement cost.
  • Historic State Street has high barriers for new tenants to enter the main shopping destination serving an affluent trade area.

Research

900 State St., Santa Barbara, CA 93101 (Santa Barbara County)

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