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7 E Anapamu St 4,850 SF Retail Building Santa Barbara, CA 93101 $4,600,000 ($948.45/SF) 5.47% Cap Rate
Investment Highlights
- 5.47 Cap - Excellent Tenant Azul Artisanal Cocina w/ Personal Guaranty
- Arguably the best patio in Santa Barbara with large capacity seating
- Phenomenal Upscale Interior with Bar
- Tenant is best in class elevated Mexican Fusion Cuisine
Executive Summary
Single Tenant NNN Leased Investment in a premier downtown Santa Barbara location at 5.47% Cap Rate.
Outstanding, best in class Tenant for elevated Mexican fusion cuisine: Azul Artesanal Mexican Cocina
When only the absolute finest will do!! This approximate $4M remodel has transformed the prior Arts and Letters Café into a true masterpiece, and features dramatic white washed ceilings, gorgeous quartz flooring, 10 person bar, stylish lounge area, dining area, plus kitchen area with extended cookline. The phenomenal rear patio is one of the best patios in all of Santa Barbara, and features exquisite perimeter stone work and on the imported olive tree planters, quartz flooring, handsome sconces, string lighting, and fireplace. This well located restaurant building is perfectly positioned in the “restaurant row” area of Santa Barbara, where many long term, well established, successful restaurants are located, due to close proximity the 2 top performing arts venues, the Granada Theater and Arlington. Additionally, ease of parking, strong daytime population, along the part of town that captures locals and the over 6M annual tourists, make this the perfect Santa Barbara location!
Outstanding, best in class Tenant for elevated Mexican fusion cuisine: Azul Artesanal Mexican Cocina
When only the absolute finest will do!! This approximate $4M remodel has transformed the prior Arts and Letters Café into a true masterpiece, and features dramatic white washed ceilings, gorgeous quartz flooring, 10 person bar, stylish lounge area, dining area, plus kitchen area with extended cookline. The phenomenal rear patio is one of the best patios in all of Santa Barbara, and features exquisite perimeter stone work and on the imported olive tree planters, quartz flooring, handsome sconces, string lighting, and fireplace. This well located restaurant building is perfectly positioned in the “restaurant row” area of Santa Barbara, where many long term, well established, successful restaurants are located, due to close proximity the 2 top performing arts venues, the Granada Theater and Arlington. Additionally, ease of parking, strong daytime population, along the part of town that captures locals and the over 6M annual tourists, make this the perfect Santa Barbara location!
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Restaurant
Building Size
4,850 SF
Building Class
B
Year Built
1990
Price
$4,600,000
Price Per SF
$948.45
Cap Rate
5.47%
NOI
$251,620
Tenancy
Single
Building Height
1 Story
Building FAR
0.93
Lot Size
0.12 AC
Zoning
C-2 - Commercial General
Frontage
61’ on E Anapamu
Amenities
- Courtyard
- Restaurant
- Air Conditioning
Exceptionally walkable
90/100
Very drivable
80/100
Strong public transit
80/100
Moderately bikeable
60/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 039-183-041 | Improvements Assessment | $1,849,275 |
| Land Assessment | $1,412,169 | Total Assessment | $3,261,444 |
Property Taxes
Parcel Number
039-183-041
Land Assessment
$1,412,169
Improvements Assessment
$1,849,275
Total Assessment
$3,261,444
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7 E Anapamu St
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