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Prime Santa Barbara Funk Zone Property 1 Retail Properties Offered at $3,600,000 in Santa Barbara, CA
Investment Highlights
- Cap rate on ground lease: 3.72%
- Price per SF of land: $176
- Current occupant is paying $10,300/month over the base rent. For a total of approx. $21,460.75/month or $257,529/year.
- Cap rate on sublease rent: 7.15%
- NOI: $133,932
Executive Summary
A rare ground lease investment opportunity in the heart of Santa Barbara’s Funk Zone with freeway frontage — one of the Central Coast’s most dynamic and sought-after urban districts. The ground lease rate is substantial below market. This dual-parcel offering delivers a truly passive, absolute NNN income
stream with zero landlord responsibilities. No expenses, no management, no surprises — just pure, unencumbered cash flow from day one.
Positioned at the intersection of E. Montecito St and Anacapa St, the property sits at the epicenter of Santa Barbara’s premier destination for wine tasting rooms, craft breweries, boutique hospitality, and creative retail — anchored between State Street and the waterfront.
Ground leased, absolute NNN investments of this caliber in a supply-constrained, high-barrier-to-entry market like Santa Barbara are exceptionally rare to market. Once the ground Lease expires land owner will take full control of the entire property.
Buyer to use Seller's AIR Purchase Contract, which has been filled out with required language for the sale of the property.
stream with zero landlord responsibilities. No expenses, no management, no surprises — just pure, unencumbered cash flow from day one.
Positioned at the intersection of E. Montecito St and Anacapa St, the property sits at the epicenter of Santa Barbara’s premier destination for wine tasting rooms, craft breweries, boutique hospitality, and creative retail — anchored between State Street and the waterfront.
Ground leased, absolute NNN investments of this caliber in a supply-constrained, high-barrier-to-entry market like Santa Barbara are exceptionally rare to market. Once the ground Lease expires land owner will take full control of the entire property.
Buyer to use Seller's AIR Purchase Contract, which has been filled out with required language for the sale of the property.
Property Facts
| Price | $3,600,000 | Number of Properties | 2 |
| Price / SF | $900.00 / SF | Individually For Sale | 0 |
| Sale Type | Investment or Owner User | Total Building Size | 4,000 SF |
| Status | Active | Total Land Area | 0.36 AC |
| Price | $3,600,000 |
| Price / SF | $900.00 / SF |
| Sale Type | Investment or Owner User |
| Status | Active |
| Number of Properties | 2 |
| Individually For Sale | 0 |
| Total Building Size | 4,000 SF |
| Total Land Area | 0.36 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
| 22 E Montecito St, Santa Barbara, CA 93101 | Retail | 4,000 SF | - | - |
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