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622 State St 10,214 SF 100% Leased Retail Building Santa Barbara, CA 93101 $6,225,000 ($609.46/SF) 5.25% Cap Rate
Executive Summary
Prime, single-level retail building custom designed and built for Urban Outfitters in 1999 and has remained the only tenant since the building’s completion. The ±10,214
SF structure is situated in a high foot traffic section of downtown Santa Barbara adjacent to bars, dining, boutiques, parking garages and entertainment venues.
Sweeping, open floor plan filled with natural light thanks to six skylights and large State Street facing windows. Cement flooring and industrial-style lighting makes this a modern and highly valuable asset for investors seeking Class A properties in downtown Santa Barbara.
SF structure is situated in a high foot traffic section of downtown Santa Barbara adjacent to bars, dining, boutiques, parking garages and entertainment venues.
Sweeping, open floor plan filled with natural light thanks to six skylights and large State Street facing windows. Cement flooring and industrial-style lighting makes this a modern and highly valuable asset for investors seeking Class A properties in downtown Santa Barbara.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Storefront
Building Size
10,214 SF
Building Class
C
Year Built
1999
Price
$6,225,000
Price Per SF
$609.46
Cap Rate
5.25%
NOI
$326,813
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.94
Lot Size
0.25 AC
Zoning
M-C - Manufacturing Commercial
Amenities
- Corner Lot
- Signage
- Signalized Intersection
- Skylights
- Storage Space
- Air Conditioning
Exceptionally walkable
90/100
Very drivable
80/100
Some public transit
50/100
Moderately bikeable
60/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 037-132-030 | Improvements Assessment | $5,638,969 |
| Land Assessment | $2,451,721 | Total Assessment | $8,090,690 |
Property Taxes
Parcel Number
037-132-030
Land Assessment
$2,451,721
Improvements Assessment
$5,638,969
Total Assessment
$8,090,690
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622 State St
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