1617-1621 N Broadway
Santa Maria, CA 93454
Retail Property For Sale

Ow Commercial and Bailey Properties are pleased to present 1617-1621 N Broadway in Santa Maria for sale. The property features an approximately 19,099 square foot commercial building (with additional 422 square foot mezzanine) on an approximately 2.15 acre land parcel. The property enjoys excellent visibility and frontage along N Broadway and features prominent building marquee signage. N Broadway is a heavily trafficked retail corridor (over 20,000 ADT) and numerous successful national chains neighbor the property, including by not limited to 99 Cent Only, Dollar Tree, Best Western Plus, Blaze Pizza, Starbucks, AutoZone, O’Reilly Auto, 7-Eleven, Subway, Del Taco, Burger King, Chase Bank, CVS, FoodMaxx, Vallarta Supermarkets, Verizon, Chevron, Arco, Fairfield Inn, Holiday Inn, Harley Davidson, and MetroPCS. Santa Maria is a dynamic and inviting City that is a mere 31 miles south of San Luis Obispo, 19 miles south of Pismo Beach, 64 miles north of Santa Barbara, 159 miles north of Los Angeles, and 123 miles west of Bakersfield. Santa Maria is the largest City by population in Santa Barbara County. The City had a population of 104,404 and a median household income of $53,066 as of January 1, 2016, with expected 7% population growth by 2021 (outpacing the growth statewide). 1617 N Broadway — Approximately 4,785 square feet of fully built-out and highly efficient Laundromat space. The lease runs until August 31, 2024. The Tenant has one 10 year option to extend the lease, subject to the Tenant also exercising its coterminous 10 year option on the adjacent space. Current base rent is $5,432/sf/mo/NNN. There are annual rent increases equal to the greater of CPI or 3% on March 1st. The Tenant is responsible for reimbursing the Landlord for its pro-rata share of property taxes, insurance, and common area maintenance. 1621 N Broadway — Approximately 14,314 square feet of retail space currently configured as a successful “mini-mall” full of thriving small business retailers and service providers. The lease runs until August 31, 2024. The Tenant has one 10 year option to extend the lease. Current rent base rent is $15,524/sf/mo/NNN. There are annual rent increases equal to the greater of CPI or 3% on December 1st. The Tenant is responsible for reimbursing the Landlfor its pro-rata share of property taxes, insurance, and common area maintenance. Fireworks Stand Lease— A portion of the parking lot adjacent to N Broadway that equates to approximately 7 parking spaces is leased to TNT Fireworks from June 28th to July 4th in 2018, 2019, and 2020. Annual rent is $3,000.