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    Northpoint Cir Santa Maria, CA 93455

    View on Map
    Sponsored
    For Sale
    $1,400,000

    Land/Lot - Santa Maria, CA

    Lot size:
    173,804.40 Acres
    Days on Market:
    3
    Last Refresh:
    Mar 20 at 8:06 pm

    Property Features for Northpoint Cir

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Zoning
    DR-3.3
    APN
    107560033
    Exterior features
    Community Features Included: Suburban
    Lot size
    173,804.40 Acres

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Jason Hart
    Jason Hart

    Hart Commercial Real Estate

    Listing agent Jason Hart License #01334694

    Listing date Mar 18, 2026

    MLS# PI26059582 Listing URL

    Copyright © 2026 California Regional Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Santa Maria Land/Lot Opportunity

    This property presents an opportunity to acquire a project with pre-negotiated fee waivers and a resolved airport land use conflict. Although re-entitlement is required, the project history and existing agreements offer a roadmap for bringing 32 new homes to the Orcutt market. A recorded settlement agreement with the Orcutt Union School District means a future developer will not have to pay school impact fees to the OUSD. A settlement with Santa Barbara County states that Quimby/Park fees will not be required as the map has already been recorded. The same settlement agreement with the county determined that no affordable housing mitigation would be required for the project. A mediated settlement with the Northpoint Homeowner's Association clarifies that this phase is not required to join the existing HOA but will contribute to shared road and drainage basin maintenance. While the previous Development Plan for the 32 units expired in 2018, the path to re-entitle the project is straightforward, requiring a new Development Plan application consistent with the prior approvals. A 2023 revision to the Airport Land Use Compatibility Plan has removed a "no build corridor" that previously conflicted with 15 of the lots. The 3.99-acre site may qualify for the permit streamlining provisions of SB 35, as it is in an urban area with 75% of its perimeter already developed.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Santa Maria
    County
    Santa Barbara
    State
    California
    Longitude
    -120.427967
    Latitude
    34.88093

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    FAQs

    What type of property is this?
    Residential land & home lot - Development opportunity with potential fee waivers in Orcutt market.
    Where is this residential land & home lot located?
    The property is located at Northpoint Cir Santa Maria, CA.
    What is the asking price?
    The asking price for this property is $1,400,000.
    What are key features of this property?
    This property features: - Significant potential savings with waived school impact fees (OUSD), Quimby/Park fees, and affordable housing in-lieu fees.; - Resolved airport land use conflict clears the way for development on previously restricted lots.; - Clear and de-risked roadmap for developing 32 new homes in the attractive Orcutt market.
    (805) 481-9010
    Request Owner's contact information
    Northpoint Cir Santa Maria, CA 93455
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    Northpoint Cir
    Santa Maria, CA 93455
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Northpoint Cir Santa Maria, CA 93455
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    Listing Contact
    Jason Hart
    Jason Hart
    Real Estate License ID: 01334694
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