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315 Meigs Rd
Santa Barbara, CA 93109
Land Lease Investment On The Mesa · Retail Property For Sale
Investment Highlights
- Sale consists strictly of a leasehold interest, not fee simple ownership.
- 11.7% Cap Rate | NOI: $233,689.
- High-yield investment supported by fully stabilized, diversified tenancy.
- Long-term ground lease in place with options that may extend control through 2051.
- $5,000 rent increase at start of 2027.
- Located in one of Santa Barbara’s most desirable coastal neighborhoods with consistent tenant demand.
Property Facts
Property Type
Retail
Property Subtype
Building Size
10,745 SF
Building Class
B
Year Built
1961
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.28
Lot Size
0.89 AC
Zoning
CPR2S - Commercial Parking Residential – Medium Density, State Street Subdistrict
Parking
49 Spaces (4.56 Spaces per 1,000 SF Leased)
Property Taxes
| Parcel Number | 045-015-008 | Improvements Assessment | $1,386,284 |
| Land Assessment | $1,770,544 | Total Assessment | $3,156,828 |
Property Taxes
Parcel Number
045-015-008
Land Assessment
$1,770,544
Improvements Assessment
$1,386,284
Total Assessment
$3,156,828
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