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Highly Resilient Retail Submarket 1936 State St 3,450 SF 100% Leased 4-Star Retail Building Santa Barbara, CA 93101 $4,950,000 ($1,434.78/SF)
Investment Highlights
- Excellent opportunity to acquire a fully leased retail property in a highly resilient retail submarket.
- Modern construction with monument signage.
- Two nationally recognized tenants.
- Prime, high traffic location at the corner of State and Mission streets.
- 20 parking spaces.
- Net Operating Income: $223,452 | 4.51% Cap Rate.
Executive Summary
Located at 1936 State Street in Santa Barbara, this offering presents a newer construction, fully leased retail investment with strong in-place income. The property is occupied by 7-Eleven and Ike’s Love & Sandwiches, two nationally recognized tenants providing stable, reliable cash flow.
Positioned along the highly trafficked State Street corridor, the asset benefits from excellent visibility and strong surrounding demographics. With modern construction and minimal near-term capital needs, this is a low-management, high-quality investment opportunity in one of California’s most desirable coastal markets. Contact Listing Agents for further details.
Positioned along the highly trafficked State Street corridor, the asset benefits from excellent visibility and strong surrounding demographics. With modern construction and minimal near-term capital needs, this is a low-management, high-quality investment opportunity in one of California’s most desirable coastal markets. Contact Listing Agents for further details.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
3,450 SF
Building Class
A
LoopNet Rating
4 Star
Year Built
2015
Price
$4,950,000
Price Per SF
$1,434.78
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.16
Lot Size
0.51 AC
Zoning
C-G - Commercial General
Parking
20 Spaces (5.83 Spaces per 1,000 SF Leased)
Frontage
Major Tenants Click Here to Access
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
-
- Accommodation and Food Services
- -
- -
-
Jan 0000
Exploding onto the crowded San Francisco food scene in 2007 as a small sandwich shop under the name “Ike’s Place” (founded by Ike Shehadeh), Ike’s Love and Sandwiches has been transforming the sandwich segment for over a decade. The brand has been defined by innovative offerings and iconic flavors. Dutch Crunch bread with Ike’s secret “Dirty Sauce” is a duo unlike any other. Every location comes with exclusive sandwich offerings that are eclectically named as a tribute to local celebrities and icons. Ike’s Love & Sandwiches features sandwiches for all: meat lovers, vegetarian, vegan, halal, and gluten-free.
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
|
|
Accommodation and Food Services | - | - | Jan 0000 |
Moderately walkable
70/100
Very drivable
80/100
Some public transit
50/100
Moderately bikeable
60/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 025-372-001 | Improvements Assessment | $2,901,463 |
| Land Assessment | $2,843,432 | Total Assessment | $5,744,895 |
Property Taxes
Parcel Number
025-372-001
Land Assessment
$2,843,432
Improvements Assessment
$2,901,463
Total Assessment
$5,744,895
Contacts
-
Gene Deering -
Paul Gamberdella -
Frank Gamberdella -
Radius Commercial Real Estate
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