Remodeled Office Condo with Six
For Sale
$1,300,000
1135 Eugenia Place, Carpinteria, CA 93013
Commercial Sale, CARPINTERIA, CA
Property Size3,167 SF
Price / SF$410.48
Days on Market246
Property Features for 1135 Eugenia Place
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C-O
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bathroom 1
Directions
Linden Exit to Carpinteria Ave, to Eugenia Place.
Subdivision
05 - CARPINTERIA-SUMMERLAND
Standard status
Active
APN
003-870-005
Size
3,167 SF
Building Details
Year built
1983
Floors in Building
1
Listing Agency:
Sun Coast Real Estate
(805) 682-4304
Listed By:
Michael Agnoli
(805) 722-0154
Added: Dec 17, 2025
Changed: Aug 19
Last Checked: Aug 20 at 10:06PM
MLS# 25-4404
Copyright © 2026 Santa Barbara Multiple Listing Service. 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.
Remodeled office condo at 1135 Eugenia Place in Carpinteria, CA, totaling 3,167 SF. Originally built in 1983, the space has fresh, modern finishes throughout and is laid out with six private offices plus a dedicated conference room. The unit includes an updated kitchen and modern bathrooms, including one with a shower. A flexible layout supports a wide range of professional uses, and the building is fully sprinklered.
The property is in downtown Carpinteria and includes on-site parking.
Designed for professional office operations, this office condo offers a self-contained interior layout with multiple offices and meeting space, along with updated shared amenities such as the kitchen and bathrooms.
The property is in downtown Carpinteria and includes on-site parking.
Designed for professional office operations, this office condo offers a self-contained interior layout with multiple offices and meeting space, along with updated shared amenities such as the kitchen and bathrooms.
Key Highlights
- 3,167 SF remodeled office condo with six private offices
- Dedicated conference room for meetings and client collaboration
- Updated kitchen plus 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
Property Profile
Current Use
Lease Details
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 - Fully remodeled office condo with six private offices, dedicated conference room, updated kitchen, and C-O zoning.
Where is this office units located?
The property is located at 1135 Eugenia Place 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 remodeled office condo with six private offices; Dedicated conference room for meetings and client collaboration; Updated kitchen plus modern bathrooms, including one with a shower
