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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)

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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.

1936 State St. | Santa Barbara, CA 93101

Property Facts

Sale Type

Investment

Property Type

Retail

Property Subtype

Freestanding

Building Size

3,450 SF

Building Class

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

128’ on Misison

Accommodation and Food Services
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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.