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Mesquit Building 201-205 E Main St 23,400 SF 100% Leased Retail Building Santa Maria, CA 93454 $3,450,000 ($147.44/SF) 6.25% Cap Rate
INVESTMENT HIGHLIGHTS
- Historic restored building - Amazing Tenants - Fantastic location
- 100% Leased
EXECUTIVE SUMMARY
Opportunity is knocking. Own one of the last original buildings in downtown Santa Maria. Built between 1905 and 1915 - this is an amazing historical building. Massive remodel in the 60's and significant updates over the last 6 years. This is only the second time this building has been available for sale in the last 50 years. Currently 24 tenants. All units have minimum of a one year contract. Building has a great industrial old world feel and a very good mix of tenants. Downtown has seen significant investment over the last few years and several projects are in development. Don't miss out. Numbers are not proforma - all previously owner occupied spaces have been rented and are under contract. Great income producing building in Santa Barbara County.
We have many long term tenants and when units do become available there is a waiting list for available space. 100% leased. Owner is relocating to another state - which necessitates the sale.
We have many long term tenants and when units do become available there is a waiting list for available space. 100% leased. Owner is relocating to another state - which necessitates the sale.
FINANCIAL SUMMARY (PRO FORMA - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$264,000
|
$11.28
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$264,000
|
$11.28
|
| Taxes |
$14,500
|
$0.62
|
| Operating Expenses |
$42,000
|
$1.79
|
| Total Expenses |
$56,500
|
$2.41
|
| Net Operating Income |
$207,500
|
$8.87
|
FINANCIAL SUMMARY (PRO FORMA - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $264,000 |
| Annual Per SF | $11.28 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $264,000 |
| Annual Per SF | $11.28 |
| Taxes | |
|---|---|
| Annual | $14,500 |
| Annual Per SF | $0.62 |
| Operating Expenses | |
|---|---|
| Annual | $42,000 |
| Annual Per SF | $1.79 |
| Total Expenses | |
|---|---|
| Annual | $56,500 |
| Annual Per SF | $2.41 |
| Net Operating Income | |
|---|---|
| Annual | $207,500 |
| Annual Per SF | $8.87 |
PROPERTY FACTS
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Building Size
23,400 SF
Building Class
C
Year Built
1905
Price
$3,450,000
Price Per SF
$147.44
Cap Rate
6.25%
NOI
$215,625
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
1.58
Lot Size
0.34 AC
Zoning
Retail, Office, Service - Mixed Use
Frontage
95’ on E Main St
AMENITIES
- Signalized Intersection
Walk Score®
Walker's Paradise (93)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Numbers | Total Assessment | $853,360 (2025) | |
| Land Assessment | $512,018 (2025) | Annual Taxes | $14,500 ($0.62/SF) |
| Improvements Assessment | $341,342 (2025) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$512,018 (2025)
Improvements Assessment
$341,342 (2025)
Total Assessment
$853,360 (2025)
Annual Taxes
$14,500 ($0.62/SF)
Tax Year
2024
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Presented by
Gossage Group Inc.
Mesquit Building | 201-205 E Main St
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