Remodeled Office
For Sale
$1,300,000
1135 Eugenia Pl Unit 5-7, Carpinteria, CA 93013
Six private offices, a conference room, updated kitchen, and modern restrooms create a functional professional workspace.
Property Size3,167 SF
Price / SF$410.48
Days on Market351
Property Features for 1135 Eugenia Pl Unit 5-7
General Information
Standard status
Active
Size
3,167 SF
Property subtype
Commercial
Additional Details
Sprinkler System
Yes
Office Units
1
Building Details
Year Built
1983
Listing Agency:
Sun Coast Real Estate
(805) 722-0154
Listed By:
Michael Agnoli
Source:
Santabarbarahomesearcher
Added: Sep 14, 2025
Changed: Aug 28
Last Checked: Aug 29 at 10:38AM
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 Sun Coast Real Estate
Investment Insights
Based on property information with market context.
This 3,167-square-foot office condo, built in 1983, has been remodeled with contemporary interior finishes. The configuration includes six private offices, a separate conference room, an updated kitchen, and modern bathrooms, including one with a shower. A flexible floor plan accommodates professional office operations, while full sprinkler coverage adds an important building feature.
The property is located in downtown Carpinteria at 1135 Eugenia Pl, Unit 5-7. Shopping, dining, and the beach are minutes away, and on-site parking supports daily access for occupants and visitors.
The property is located in downtown Carpinteria at 1135 Eugenia Pl, Unit 5-7. Shopping, dining, and the beach are minutes away, and on-site parking supports daily access for occupants and visitors.
Key Highlights
- 3,167 SF office condo in downtown Carpinteria
- Six private offices plus a dedicated conference room
- Updated kitchen and modern bathrooms, including one with a shower
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
$56,499
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
4.35%
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%
$1,129,980
$1.1M
Cap Rate 7%
$807,129
$807.1K
Cap Rate 9%
$627,767
$627.8K
Market Conditions
NOI Build-Up for 3,167 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
$83.6K $26.40/SF
− Vacancy
−$8.3K −$2.61/SF
EGI
$75.3K $23.79/SF
− OpEx
−$18.8K −$5.95/SF
NOI
$56.5K $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 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%
$1,129,980
Cap Rate 7%
$807,129
Cap Rate 9%
$627,767
Alternative Uses
Best Use
Office B
$807.1K
$706.2K – $941.7K
NOI $56,499 @ 7.0% cap · market cap 4.35%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$994.0K
$869.7K – $1.16M
NOI $69,579 @ 7.0% cap · market cap 5.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Office units
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
973
Businesses Nearby
Explore this area
Business Placement
Demographics for 93013, CA
16,299
Population
7,640
Households
2.1
Avg Household Size
45
Median Age
46%
College-Educated
87%
High-School Grad
41.4 sq mi
ZIP Area
394
Density / Sq Mi
$115,633
Median Household Income
$49,017
Median Earnings
$2,331
Median Rent
$1,074,600
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 - Six private offices, a conference room, updated kitchen, and modern restrooms create a functional professional workspace.
Where is this office units located?
The property is located at 1135 Eugenia Pl Unit 5-7 Carpinteria, CA.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: 3,167 SF office condo in downtown Carpinteria; Six private offices plus a dedicated conference room; Updated kitchen and modern bathrooms, including one with a shower
