Log In/Sign Up
Your email has been sent.
Ontare Plaza 3609-3617 State St 10,650 SF 100% Leased Retail Building Santa Barbara, CA 93105 $6,750,000 ($633.80/SF) 5.16% Cap Rate
Investment Highlights
- Premier, well-maintained retail center located in the preferred Upper State Street trade area within the exclusive San Roque neighborhood.
- Surrounded by high-end residential communities, including multi-million-dollar homes, supported by superior demographics.
- Highly accessible location with direct proximity to the 101 Interstate Highway and strong visibility.
- 100% occupied, stabilized, cash-flowing asset with long-term, service-oriented tenants, many of whom have operated in the center for 20–40 years.
- The area is revitalizing with two major proposed residential projects: the 443-unit La Cumbre South and the 642-unit State and Hope developments.
- Attractive future upside potential driven by redevelopment activity, strong tenant demand, and continued market growth.
Executive Summary
Notes:
1. Year built is approximate and should be verified by the buyer.
2. Tenants must not be disturbed under any circumstances.
We are pleased to offer for sale an exceptional multi-tenant investment opportunity in the highly desirable Santa Barbara San Roque neighborhood. The tenants benefit from a “perfect storm” of strong business factors, including a vibrant, high-income local customer base reflected by the upscale adjacent hillside homes, consistent high traffic counts, and the advantages of being located in a premier, high-end trade area, supported by the presence of prestigious grocery stores such as Whole Foods, Gelson’s, and Bristol Farms.
The center features a complementary mix of businesses, including home improvement, restaurants, personal high-tech devices, financial services, and wellness/beauty services. Ontare Plaza benefits from a synergistic mix of national and local tenants, including Baskin Robbins, T-Mobile, Ace Cash Express, longtime restaurateurs Rudy’s and Kaz To Go, as well as local staples Sleep Shoppe, TriCounty Blinds, and Salt Salon.
Many tenants have established long-term roots at Ontare Plaza, fostering strong loyalty from the local community. Over half of the tenants have operated at the location for more than 13 years, with Baskin Robbins serving as a community fixture for over 30 years and Rudy’s Mexican Restaurant for nearly 40 years. Tenant stability has been a hallmark of Ontare Plaza.
The San Roque area has consistently been a highly desirable and strong-performing business location. The Upper State Street corridor is an affluent, supply-constrained pocket of the city, characterized by established households, strong discretionary spending, and long-term residential stability.
1. Year built is approximate and should be verified by the buyer.
2. Tenants must not be disturbed under any circumstances.
We are pleased to offer for sale an exceptional multi-tenant investment opportunity in the highly desirable Santa Barbara San Roque neighborhood. The tenants benefit from a “perfect storm” of strong business factors, including a vibrant, high-income local customer base reflected by the upscale adjacent hillside homes, consistent high traffic counts, and the advantages of being located in a premier, high-end trade area, supported by the presence of prestigious grocery stores such as Whole Foods, Gelson’s, and Bristol Farms.
The center features a complementary mix of businesses, including home improvement, restaurants, personal high-tech devices, financial services, and wellness/beauty services. Ontare Plaza benefits from a synergistic mix of national and local tenants, including Baskin Robbins, T-Mobile, Ace Cash Express, longtime restaurateurs Rudy’s and Kaz To Go, as well as local staples Sleep Shoppe, TriCounty Blinds, and Salt Salon.
Many tenants have established long-term roots at Ontare Plaza, fostering strong loyalty from the local community. Over half of the tenants have operated at the location for more than 13 years, with Baskin Robbins serving as a community fixture for over 30 years and Rudy’s Mexican Restaurant for nearly 40 years. Tenant stability has been a hallmark of Ontare Plaza.
The San Roque area has consistently been a highly desirable and strong-performing business location. The Upper State Street corridor is an affluent, supply-constrained pocket of the city, characterized by established households, strong discretionary spending, and long-term residential stability.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront
Building Size
10,650 SF
Building Class
B
Year Built
1958
Price
$6,750,000
Price Per SF
$633.80
Cap Rate
5.16%
NOI
$348,214
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.44
Lot Size
0.56 AC
Zoning
C-P/S-D-2
Frontage
70’ on State St
Walk Score®
Very Walkable (87)
Bike Score®
Very Bikeable (81)
Nearby Major Retailers
Property Taxes
| Parcel Numbers | Improvements Assessment | $2,376,972 | |
| Land Assessment | $2,685,861 | Total Assessment | $5,062,833 |
Property Taxes
Parcel Numbers
Land Assessment
$2,685,861
Improvements Assessment
$2,376,972
Total Assessment
$5,062,833
1 of 4
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
Presented by
Ontare Plaza | 3609-3617 State St
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.
Your message has been sent!
Activate your LoopNet account now to track properties, get real-time alerts, save time on future inquiries, and more.