Freestanding Retail
For Sale
Contact for pricing
101 South Broadway, Santa Maria, CA 93458
Open-plan retail space along Broadway near established retailers, restaurants, service businesses, and daily-needs amenities.
Property Size5,500 SF
Price / SF$350
Days on Market53
Property Features for 101 South Broadway
General Information
Standard status
Active
Size
5,500 SF
Property subtype
Retail
Zoning
Retail
Additional Details
Space Use
Retail
Building Details
Units
1
Listing Agency:
Colliers - San Luis Obispo, California
Listed By:
John Hans, SIOR · License #CA 00658662
(805) 544-3900
Source:
Crexi
Added: Jul 14
Changed: Sep 3
Last Checked: Sep 2 at 5:54PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Colliers - San Luis Obispo, California
Investment Insights
Based on property information with market context.
This 5,500-square-foot retail property offers a broad, open interior layout suited to retail, showroom, fitness, service, and specialty uses. The space previously operated as Boot Barn and is configured as a freestanding commercial building.
The property is located on S Broadway in Santa Maria, across from Santa Maria Town Center. Surrounding uses include established retailers, restaurants, service businesses, and daily-needs amenities, with multiple high-density residential and mixed-use developments nearby. The building is also included in a landlord-planned redevelopment project.
The property is located on S Broadway in Santa Maria, across from Santa Maria Town Center. Surrounding uses include established retailers, restaurants, service businesses, and daily-needs amenities, with multiple high-density residential and mixed-use developments nearby. The building is also included in a landlord-planned redevelopment project.
Key Highlights
- 5,500 SF freestanding retail building
- Open floor plan suitable for retail, showroom, fitness, service, or specialty uses
- Former Boot Barn space
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
$76,091
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
3.95%
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%
$1,521,820
$1.5M
Cap Rate 7%
$1,087,014
$1.1M
Cap Rate 9%
$845,456
$845.5K
Market Conditions
NOI Build-Up for 5,500 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
$118.8K $21.60/SF
− Vacancy
−$10.1K −$1.84/SF
EGI
$108.7K $19.76/SF
− OpEx
−$32.6K −$5.93/SF
NOI
$76.1K $13.83/SF
Area
Santa Maria, CA
Vacancy
8.50%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
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%
$1,521,820
Cap Rate 7%
$1,087,014
Cap Rate 9%
$845,456
Alternative Uses
Best Use
Retail
$1.09M
$951.1K – $1.27M
NOI $76,091 @ 7.0% cap · market cap 3.95%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.86M
$1.63M – $2.17M
NOI $130,099 @ 7.0% cap · market cap 6.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,989
Businesses Nearby
231k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Apparel 30%
Dining 26%
Shops & Services 24%
Leisure 20%
Macy's
Apparel
58,579 visits/mo
0.0 miles
Edwards Santa Maria 14 & RPX
Leisure
46,417 visits/mo
0.1 miles
McDonald's
Dining
33,352 visits/mo
0.3 miles
Bank of America
Shops & Services
24,016 visits/mo
0.0 miles
Wells Fargo
Shops & Services
19,446 visits/mo
0.3 miles
Demographics for 93458, CA
59,927
Population
14,433
Households
4.2
Avg Household Size
28
Median Age
9%
College-Educated
50%
High-School Grad
28.4 sq mi
ZIP Area
2,110
Density / Sq Mi
$73,518
Median Household Income
$30,278
Median Earnings
$1,825
Median Rent
$460,300
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Open-plan retail space along Broadway near established retailers, restaurants, service businesses, and daily-needs amenities.
Where is this retail space located?
The property is located at 101 South Broadway Santa Maria, CA.
What is the asking price?
The asking price for this property is $1,925,000.
What are key features of this property?
This property features: 5,500 SF freestanding retail building; Open floor plan suitable for retail, showroom, fitness, service, or specialty uses; Former Boot Barn space
