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Valley Medical Center 1414 S Miller St 34,595 SF 84% Leased Office Building Santa Maria, CA 93454 $6,695,000 ($193.53/SF) 6.96% Cap Rate



Investment Highlights
- Multi-tenant office and service retail property offering flexibility for a diverse mix of office, medical, and service-oriented tenants.
- Positioned near Broadway Plaza and Stowell Shopping Centers, providing tenants and visitors with abundant nearby amenities.
- Ownership has invested over $1 million in recent upgrades including new windows, HVAC systems, landscaping, walkways, parking lot
- Centrally located between Stowell Road and Barcellus Avenue, with immediate access to Highway 101 and South Broadway for strong regional connectivity.
- Features 103 on-site parking spaces with additional off-site parking capacity and frontage along three sides of a courtyard design.
- Current occupancy of approximately 83%, delivering immediate income with upside potential through lease stabilization and rent adjustments
Executive Summary
Current ownership has invested more than $1M towards improvements including new windows, HVAC upgrades, walkway and landscaping improvements, parking lot work, and various electrical, plumbing, and interior upgrades. Currently 83% occupied, the asset provides immediate cash flow with an in-place Cap Rate of 5.49% and a clear path to a ~7% Cap Rate through stabilization of the three current vacancies (inclusive of stabilization costs) with additional upside to an estimated 8%+ Cap Rate through pending renewals at market rents. The site’s parcel size, parking field, and layout also offer longer-term optionality, including potential condo conversion or repositioning to senior housing or market-rate apartments, subject to City approvals. This is an attractive opportunity for investors seeking:
• In-place income with value-add potential through lease-up
and mark-to-market rent growth
• A diversified rent roll with office, medical, and service
business tenancies
• Long-term appreciation supported by continued corridor
reinvestment
• Future flexibility through potential condo or residential
repositioning, subject to approvals
With strong underlying real estate, a central location, and clear paths to higher rents through lease management, 1414 S Miller Street offers a scalable asset with both current income and meaningful upside on California’s Central Coast.
Address 1414 S Miller St,
Santa Maria CA 93454
APN 128-067-002
Gross Leasable Area 34,595
Site Area 2.53 Acres
Zoning CPO - Professional office
Year Built 1962, Renovated in 2002 and
2018-2024
Parking 103 spaces on-site, and
potentially 15+ off-site
# of Buildings Eight (8)
# of Suites Twenty-eight (28)
HVAC Yes, in all suites
Investment Details
Asking Price $6,695,000
Price PSF Building $194
Price PSF Land $61
Cap Rate 5.49% (current)
6.96% (est. stabilized current)
8.21% (est. market)
Current Occupancy 83%
Current Vacancy* 17%
Financials To be provided upon receipt
of executed Confidentiality
Agreement
Note: Vacancy totals 5,543 SF in three suites: restaurant and two office suites. Call Listing Agent for more details. Seller has interest in the restaurant business which occupies Suites E & F (restaurant suite) which does not pay rent.
Property Facts
Amenities
- Bus Line
- Air Conditioning
- Raised Floor System
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
- A Santa Maria Holistic Health-Auto Injury
- Health Care and Social Assistance
- -
- -
- -
- -
Amigo Baby is a provider of early intervention services for infants and young children, with programs built around family-centered and individualized care. The company offers occupational therapy, physical therapy, speech therapy, and early intervention specialist support, and services are delivered in the child’s natural environment or in a therapy center. Amigo Baby also describes a web-based platform and mobile application for child development, along with interactive classes and parent education resources that support routines, play, communication, and learning. The company’s public materials emphasize collaboration with families, culturally sensitive service delivery, and practical support for day-to-day developmental needs.
Chiropractors are best known for treating back or neck pain, but they can also help with any pain or discomfort that is being generated by the nerves in the joints, muscles, tendons or ligaments. A chiropractor can also help to treat and rehabilitate many specific injuries - see a partial list of treatable conditions below. If you are suffering from neck, back, extremity or other health issues, consider chiropractic care as a non-invasive treatment that can help you experience relief from pain, and a return to the activities that make life worth living.
- CHC Dental Svc
- Health Care and Social Assistance
- -
- -
- -
- -
- Coast Valley Treatment Center
- Health Care and Social Assistance
- -
- -
- Modified Gross
- Apr 2020
Sansum Clinic, the largest non-profit outpatient healthcare organization between Los Angeles and the San Francisco Bay area, is now part of Sutter Health. Sutter and Sansum each have a century-long commitment to improving the health of the communities they serve. Unified by their common missions and values, they are now embarking on a journey to shape the future of healthcare on the Central Coast. Together, they will build on Sansum’s legacy while forging a new path forward. This partnership is specifically designed to increase access to high-quality, multispecialty care, to advance thier integrated care model, to provide a more connected, seamless experience for patients, and to meet diverse community needs for generations to come.
First Command Financial Services began in 1958 when Carroll Payne, a retired Air Force officer, identified a need for financial planning assistance among military families. The company started as United Services Investment Association and became First Command Financial Planning in 2001. First Command provides financial coaching through advisors who understand military life. Services include investment advice, insurance, and banking products. The company serves active-duty and retired military families.
Hometown Pharmacy is a curation of over 70 independent pharmacies focused on personalized patient care. They are evolving the face of healthcare by educating and empowering their patients and communities to make informed decisions about their health. Many of their pharmacists live in the communities they serve. They know their patients by name and strive to provide them the best care imaginable. They take a proactive approach to healthcare by teaching their patients to make time for their health now so they don't have to make time for disease later. They also work to get patients off of their prescriptions through lifestyle changes, nutritional programs, supplementation, sleep and stress recommendation, and more. They want to see their patients healthy and living their best lives.
- Stephen W. Young, DC
- Health Care and Social Assistance
- -
- $18.00
- Modified Gross
- Mar 2017
- Sun Coast Farms
- Agriculture, Forestry, Fishing and Hunting
- -
- -
- Modified Gross
- Nov 2028
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
| A Santa Maria Holistic Health-Auto Injury | Health Care and Social Assistance | - | - | - | - | |
|
Health Care and Social Assistance | - | - | - | - | |
|
Health Care and Social Assistance | - | - | - | - | |
| CHC Dental Svc | Health Care and Social Assistance | - | - | - | - | |
| Coast Valley Treatment Center | Health Care and Social Assistance | - | - | Modified Gross | Apr 2020 | |
|
Health Care and Social Assistance | - | - | - | - | |
|
Finance and Insurance | - | - | Modified Gross | May 2026 | |
|
Retailer | - | - | - | - | |
| Stephen W. Young, DC | Health Care and Social Assistance | - | $18.00 | Modified Gross | Mar 2017 | |
| Sun Coast Farms | Agriculture, Forestry, Fishing and Hunting | - | - | Modified Gross | Nov 2028 |
Space Availability
- Space
- Size
- Space Use
- Build-Out
- Available
- 1st Fl-Ste E & F
- 2,051 SF
- Retail
- -
- Now
- 1st Fl-Ste H
- 1,118 SF
- Office/Retail
- -
- Now
- 1st Fl-Ste P
- 2,374 SF
- Office/Retail
- -
- Now
| Space | Size | Space Use | Build-Out | Available |
| 1st Fl-Ste E & F | 2,051 SF | Retail | - | Now |
| 1st Fl-Ste H | 1,118 SF | Office/Retail | - | Now |
| 1st Fl-Ste P | 2,374 SF | Office/Retail | - | Now |
1st Fl-Ste E & F
| Size |
| 2,051 SF |
| Space Use |
| Retail |
| Build-Out |
| - |
| Available |
| Now |
1st Fl-Ste H
| Size |
| 1,118 SF |
| Space Use |
| Office/Retail |
| Build-Out |
| - |
| Available |
| Now |
1st Fl-Ste P
| Size |
| 2,374 SF |
| Space Use |
| Office/Retail |
| Build-Out |
| - |
| Available |
| Now |
Property Taxes
| Parcel Number | 128-067-002 | Improvements Assessment | $1,784,828 |
| Land Assessment | $2,509,917 | Total Assessment | $4,294,745 |
Property Taxes
Presented by
Valley Medical Center | 1414 S Miller St
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