Office Units with Courtyard
For Sale
Contact for pricing
111 W Micheltorena St, Santa Barbara, CA 93101
Bright suites offer patios, conference rooms, kitchen access, elevator service, and courtyard-facing windows.
Property Size3,708 SF
Days on Market289
Property Features for 111 W Micheltorena St
General Information
Standard status
Active
Size
3,708 SF
Total Parking Spaces
7
Elevators
Yes
Property subtype
Commercial
Zoning
C-G
Additional Details
Floor
3
Amenities
conference room
private patio
courtyard
water feature
Listing Agency:
Hayes Commercial Group
Listed By:
Caitlin Hensel · License #CA01893341
(805) 563-2111
Source:
Santabarbarahomesearcher
Added: Jan 1
Changed: Oct 1
Last Checked: Oct 16 at 8:58AM
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 Hayes Commercial Group
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Investment Insights
Based on property information with market context.
Office units at 111 W Micheltorena St include two distinct suite configurations within a property featuring courtyard exposure, water-feature views, abundant windows, and patio access. Suite 200 includes a large conference room, full kitchen, remodeled private restroom, dual access points, and its own patio. Suite 300-A measures 3,376 SF on the 3rd floor and combines open workspace with private offices, a large conference room, and private patio access.
The property provides 7 parking spaces, HVAC throughout, common restrooms, and elevator service. It is positioned across from Three Pickles Deli and near the Public Market and Theater District. C-G zoning supports the established commercial setting.
The property provides 7 parking spaces, HVAC throughout, common restrooms, and elevator service. It is positioned across from Three Pickles Deli and near the Public Market and Theater District. C-G zoning supports the established commercial setting.
Key Highlights
- Suite 300‑A offers 3,376 SF on the 3rd floor
- Suite 200 includes a full kitchen, remodeled private restroom, and private patio
- Suite 300‑A combines open workspace with private offices and conference room
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$66,150
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,323,000
$1.3M
Cap Rate 7%
$945,000
$945.0K
Cap Rate 9%
$735,000
$735.0K
Market Conditions
NOI Build-Up for 3,708 SF
Gross rent
$97.9K $26.40/SF
− Vacancy
−$9.7K −$2.61/SF
EGI
$88.2K $23.79/SF
− OpEx
−$22.0K −$5.95/SF
NOI
$66.1K $17.84/SF
Area
Santa Barbara County, CA
Vacancy
9.90%
Lease Rate
$26.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,323,000
Cap Rate 7%
$945,000
Cap Rate 9%
$735,000
Alternative Uses
Best Use
Office B
$945.0K
$826.9K – $1.10M
NOI $66,150 @ 7.0% cap · market cap 3,307,500.00%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$1.16M
$1.02M – $1.36M
NOI $81,465 @ 7.0% cap · market cap 4,073,250.00%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
5,520
Businesses Nearby
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Business Placement
Demographics for 93101, CA
30,513
Population
13,664
Households
2.2
Avg Household Size
36
Median Age
41%
College-Educated
83%
High-School Grad
3.2 sq mi
ZIP Area
9,535
Density / Sq Mi
$79,868
Median Household Income
$42,614
Median Earnings
$2,109
Median Rent
$1,122,200
Median Home Value
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Market
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Office units - Bright suites offer patios, conference rooms, kitchen access, elevator service, and courtyard-facing windows.
Where is this office units located?
The property is located at 111 W Micheltorena St Santa Barbara, CA.
What are key features of this property?
This property features: Suite 300‑A offers 3,376 SF on the 3rd floor; Suite 200 includes a full kitchen, remodeled private restroom, and private patio; Suite 300‑A combines open workspace with private offices and conference room
