Office Building with Private
For Sale
$695,000
117 E Fesler St, Santa Maria, CA 93454
A converted residence provides a reception area, multiple private workrooms, and on-site parking.
Property Size1,402 SF
Price / SF$495.72
Days on Market222
Property Features for 117 E Fesler St
General Information
Standard status
Active
Size
1,402 SF
Property subtype
Commercial
Amenities
multiple private rooms/offices
reception area
onsite parking
Building Details
Year Built
1937
Buildings
1
Listing Agency:
SearchLight Properties
(805) 709-1412
Listed By:
Michelle Shipman · License #01703087
Source:
Santaynezvalleyhomesforsale
Added: Jan 20
Changed: Aug 30
Last Checked: Aug 30 at 6:56AM
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 SearchLight Properties
Investment Insights
Based on property information with market context.
Built in 1937, this 1,402-square-foot office building began as a residence and has been adapted for commercial workspace. The interior includes multiple private rooms suitable for offices, along with a reception area that supports a professional visitor experience. On-site parking adds convenience for occupants and guests.
Located at 117 E. Fesler St in Santa Maria, the property offers a distinctive alternative to conventional office space, combining residential character with a practical office layout. Its configuration may suit professional services, therapy, legal, accounting, or medical-related administrative operations, subject to verification of zoning, permitted uses, and intended-use suitability.
Located at 117 E. Fesler St in Santa Maria, the property offers a distinctive alternative to conventional office space, combining residential character with a practical office layout. Its configuration may suit professional services, therapy, legal, accounting, or medical-related administrative operations, subject to verification of zoning, permitted uses, and intended-use suitability.
Key Highlights
- 1,402‑square‑foot commercial office building
- Originally constructed in 1937
- Multiple private rooms or offices
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
$23,873
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
3.43%
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%
$477,460
$477.5K
Cap Rate 7%
$341,043
$341.0K
Cap Rate 9%
$265,256
$265.3K
Market Conditions
NOI Build-Up for 1,402 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
$37.0K $26.40/SF
− Vacancy
−$5.2K −$3.70/SF
EGI
$31.8K $22.70/SF
− OpEx
−$8.0K −$5.68/SF
NOI
$23.9K $17.03/SF
Area
Santa Maria, CA
Vacancy
14.00%
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%
$477,460
Cap Rate 7%
$341,043
Cap Rate 9%
$265,256
Alternative Uses
Best Use
Office B
$341.0K
$298.4K – $397.9K
NOI $23,873 @ 7.0% cap · market cap 3.43%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$473.8K
$414.5K – $552.7K
NOI $33,163 @ 7.0% cap · market cap 4.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,767
Businesses Nearby
Explore this area
Business Placement
Demographics for 93454, CA
40,994
Population
12,413
Households
3.3
Avg Household Size
33
Median Age
18%
College-Educated
74%
High-School Grad
418.3 sq mi
ZIP Area
98
Density / Sq Mi
$84,178
Median Household Income
$34,883
Median Earnings
$1,750
Median Rent
$477,600
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 building - A converted residence provides a reception area, multiple private workrooms, and on-site parking.
Where is this office building located?
The property is located at 117 E Fesler St Santa Maria, CA.
What is the asking price?
The asking price for this property is $695,000.
What are key features of this property?
This property features: 1,402‑square‑foot commercial office building; Originally constructed in 1937; Multiple private rooms or offices
