Converted Residential Office
For Sale
$595,000
117 E Fesler Street, Santa Maria, CA 93454
SINGLE_FAMILY - Santa Maria, CA
Property Size1,402 SF
Lot Size0.17 Acres
Price / SF$424.39
Days on Market36
Property Features for 117 E Fesler Street
General Information
Property type
Residential
Property subtype
Office
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bathroom 1
Subdivision
1 - Not Applicable
Directions
From Main Street heading west approaching Broadway, take a left at Broadway. Take a right on Fesler at the McDonalds. Property is located directly across the street from McDonalds.
Standard status
Active
APN
121-152-015
Size
1,402 SF
Lot size
0.17 Acres
Building Details
Year built
1937
Floors in Building
1
Listing Agency:
SearchLight Properties
(805) 938-5309
Listed By:
Michelle Shipman · License #01703087
(805) 938-5309
Added: Jul 2
Changed: Jul 26
Last Checked: Aug 6 at 12:06PM
MLS# 26000475
Copyright © 2026 North Santa Barbara County Regional MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
117 E. Fesler St. is a converted residential property built into commercial office use, offering a mix of multiple private rooms/offices plus a reception area. The building is positioned to provide the character of a vintage residence alongside the day-to-day functionality of a professional workspace.
The property is located in Santa Maria, Santa Barbara County, at 117 E Fesler Street (93454). Onsite parking is available for visitors and staff. With 1,402 square feet of space on an approximately 0.17-acre lot, the layout supports a range of professional and administrative office uses. Buyer to verify permitted uses, zoning, square footage, and suitability for intended use.
The property is located in Santa Maria, Santa Barbara County, at 117 E Fesler Street (93454). Onsite parking is available for visitors and staff. With 1,402 square feet of space on an approximately 0.17-acre lot, the layout supports a range of professional and administrative office uses. Buyer to verify permitted uses, zoning, square footage, and suitability for intended use.
Key Highlights
- Built in 1937 and converted from a home to commercial office use at 117 E. Fesler St.
- Multiple private rooms/offices plus a reception area for client‑facing professional use.
- Onsite parking available.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$23,873
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.01%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$477,460
$477.5K
Cap Rate 7%
$341,043
$341.0K
Cap Rate 9%
$265,256
$265.3K
Market Conditions
NOI Build-Up for 1,402 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$37.0K $26.40/SF
− Vacancy
−$5.2K −$3.70/SF
EGI
$31.8K $22.70/SF
− OpEx
−$8.0K −$5.68/SF
NOI
$23.9K $17.03/SF
Area
Santa Maria, CA
Vacancy
14.00%
Lease Rate
$26.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$477,460
Cap Rate 7%
$341,043
Cap Rate 9%
$265,256
Alternative Uses
Best Use
Office B
$341.0K
$298.4K – $397.9K
NOI $23,873 @ 7.0% cap · market cap 4.01%
Second Best
Healthcare Medical
$324.5K
$283.9K – $378.5K
NOI $22,712 @ 7.0% cap · market cap 3.82%
Theoretical Best
Office A
$473.8K
$414.5K – $552.7K
NOI $33,163 @ 7.0% cap · market cap 5.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,804
Businesses Nearby
Explore this area
Business Placement
Demographics for 93454, CA
40,994
Population
12,413
Households
3.3
Avg Household Size
33
Median Age
18%
College-Educated
74%
High-School Grad
418.3 sq mi
ZIP Area
98
Density / Sq Mi
$84,178
Median Household Income
$34,883
Median Earnings
$1,750
Median Rent
$477,600
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Converted home with multiple private offices, reception area, and onsite parking in Santa Maria.
Where is this office units located?
The property is located at 117 E Fesler Street Santa Maria, CA.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: Built in 1937 and converted from a home to commercial office use at 117 E. Fesler St.; Multiple private rooms/offices plus a reception area for client‑facing professional use.; Onsite parking available.
