Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    318-324 State St Santa Barbara, CA 93101

    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Fully leased retail property in Santa Barbara, California.

    Lot size:
    1.23 Acres

    Property Features for 318-324 State St

    General Information

    Lot size
    1.23 Acres

    We can help!

    Listing Contact
    Miles Waters
    Source: Moodyscre

    Listing Agent: Miles Waters

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Retail Property in Santa Barbara

    This retail property is located at 318-324 State St in Santa Barbara, California. The property is currently 100% leased and has no current availability.
    Location Intelligence

    Current Use by Public Records

    Retail properties

    Suggested Use

    Realty agency Restaurant Law Firm Dental Office Spa & Massage Hair Salon Nail Salon Building Supply Pharmacy Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Santa Barbara
    County
    Santa Barbara
    State
    California
    Longitude
    -119.6931544
    Latitude
    34.4159211

    Nearby Similar for Lease

    • $2 SF/Yr
      1,550 SF

      Santa Barbara Office Space For Rent

      1,550 SF office space in Santa Barbara's Lagoon District.
      735 E Haley St, Santa Barbara, CA 93103
      View Details
    • $30 SF/Yr
      6,500 SF

      Santa Barbara Industrial Warehouse

      6,500 SF Warehouse, Gated Yard, Hwy 101 Access
      519 Gutierrez St, Santa Barbara, CA 93103
      View Details
    • $17 SF/Yr
      14,368 SF

      Santa Barbara Warehouse - 14,368 SF

      Downtown Santa Barbara industrial warehouse, ample parking.
      415 Salsipuedes St, Santa Barbara, CA 93103
      View Details
    • $54 SF/Yr
      59,781 SF

      Downtown Santa Barbara Retail Space

      Prime State Street Retail/Restaurant Opportunity
      803-819 De La Guerra St, Santa Barbara, CA 93101
      View Details
    • $31 SF/Yr
      33,836 SF

      Downtown Santa Barbara Office Space

      Prime Santa Barbara Office & Retail
      600 Chapala St, Santa Barbara, CA 93101
      View Details
    • $27 SF/Yr
      3,572 SF

      Prime Downtown Santa Barbara Office

      Historic building, divisible suites, State Street views.
      3 De La Guerra St, Santa Barbara, CA 93101
      View Details
    • Contact for pricing
      183 SF

      Santa Barbara Restaurant Space

      Prime Downtown Santa Barbara Retail/Restaurant
      38 Victoria St, Santa Barbara, CA 93101
      View Details
    • $23 SF/Yr
      4,560 SF

      Santa Barbara Office Suite for Lease

      Prime Office Space, Mountain Views, Beach Proximity
      201 Calle Cesar Chavez, Santa Barbara, CA 93103
      View Details
    • Contact for pricing
      2,650 SF

      Santa Barbara Executive Suites

      Prestigious Santa Barbara office space available.
      7 Figueroa St, Santa Barbara, CA 93101
      View Details
    • $23 SF/Yr
      31,407 SF

      Downtown Santa Barbara Fitness Space

      Prime State Street fitness/office space.
      820 State St, Santa Barbara, CA 93101
      View Details
    • $33 SF/Yr
      2,670 SF

      Prime Santa Barbara Medical Office Space

      2,670 SF Medical Office, 9 Parking Spaces
      317 Milpas St, Santa Barbara, CA 93103
      View Details
    • $75 SF/Yr
      21,995 SF

      Downtown Santa Barbara Office Suites

      Prime Santa Barbara Office Space Available
      7 Figueroa St, Santa Barbara, CA 93101
      View Details

    FAQs

    What type of property is this?
    Retail property - Fully leased retail property in Santa Barbara, California.
    Where is this retail property located?
    The property is located at 318-324 State St Santa Barbara, CA.
    What are key features of this property?
    This property features: - 100% Leased: Enjoy an immediate and consistent income stream.; - No Current Availability: Indicates high tenant demand and retention.
    (805) 879-9614
    Request Owner's contact information
    318-324 State St Santa Barbara, CA 93101
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    318-324 State St
    Santa Barbara, CA 93101
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    318-324 State St Santa Barbara, CA 93101
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Miles Waters
    (805) 879-9614
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.