Add Listing
    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

    502-504 N Milpas St Santa Barbara, CA 93103

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Fully leased retail property in Santa Barbara, California.

    Lot size:
    0.13 Acres

    Property Features for 502-504 N Milpas St

    General Information

    Lot size
    0.13 Acres

    We can help!

    Listing Contact
    Bob Tuler
    Source: Moodyscre

    Listing Agency: Radius Commercial Real Estate Listing Agent: Bob Tuler

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

    Learn more

    Overview

    Leased Retail Property in Santa Barbara

    The property located at 502-504 N Milpas St, Santa Barbara, CA is a 100% leased retail property. There are no current availabilities.
    Location Intelligence

    Current Use by Public Records

    Shopping centers

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Daycare Center Building Supply Skin Care Clinic

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

    Similar Places Nearby

    Milpas Shopping Center, Sevilla Square, Santa Barbara Plaza, Railroad square, Zone Studioz

    Location Insight

    • Map
    • Local Demand
    City
    Santa Barbara
    County
    Santa Barbara
    State
    California
    Longitude
    -119.6853219
    Latitude
    34.4266761

    Nearby Similar for Lease

    • Sponsored
      New
      Contact for pricing

      CA, Santa Barbara - Downtown Santa Barbara

      Discover many ways to work your way in CA, Santa Barbara - Downtown Santa Barbara
      7 Figueroa St, Santa Barbara, CA 93101
      View Details
    • Contact for pricing

      Waterfront Restaurant Space in Santa Barbara

      Turn-key restaurant with rooftop deck overlooking Stearn's Wharf.
      13 E Cabrillo Blvd, Santa Barbara, CA 93101
      View Details
    • $2 SF/Yr

      Downtown Santa Barbara Office Suite

      Charming office suite in downtown Santa Barbara with on-site parking.
      228 West Carrillo St, Santa Barbara, CA 93101
      View Details
    • Contact for pricing
      Pending

      Retail Space on State Street

      Versatile retail space in high-traffic Santa Barbara location.
      435 State St, Santa Barbara, CA 93101
      View Details
    • Contact for pricing
      1,100 SF

      Downtown Santa Barbara Office Space

      Office space for lease near State Street and Highway 101.
      228 W Carrillo St, Santa Barbara, CA 93101
      View Details
    • Contact for pricing
      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
    • Contact for pricing
      18,472 SF

      Santa Barbara Office Space Sublease

      Office space available for sublease in Santa Barbara, CA.
      2030 Alameda Padre Serra, Santa Barbara, CA 93103
      View Details
    • Contact for pricing
      1,000 SF

      Turnkey Office and Team Suites

      Flexible office spaces with meeting rooms in Santa Barbara.
      307-351 Paseo Nuevo, Santa Barbara, CA
      View Details
    • $2 SF/Yr
      8,028 SF

      Office Space 100% Leased

      Office property currently 100% leased in Santa Barbara, CA.
      420 E Carrillo St, Santa Barbara, CA 93101
      View Details
    • $3 SF/Yr
      605 SF

      Freestanding Retail/Office Building For Rent

      Freestanding retail or office building with 605 square feet.
      708 E Haley St, Santa Barbara, CA 93103
      View Details
    • Contact for pricing
      1,765 SF

      Retail Property in Santa Barbara

      Fully leased retail property in Santa Barbara, California.
      1505 E Valley Rd, Santa Barbara, CA 93108
      View Details

    FAQs

    What type of property is this?
    Shopping center - Fully leased retail property in Santa Barbara, California.
    Where is this shopping center located?
    The property is located at 502-504 N Milpas St Santa Barbara, CA.
    What are key features of this property?
    This property features: - 100% Leased, providing immediate income.; - No Current Availabilities, ensuring consistent cash flow.; - Investment Property, a great addition to your portfolio.
    (805) 879-9605 Call to check price and availability
    Request Owner's contact information
    502-504 N Milpas St Santa Barbara, CA 93103
    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.
    502-504 N Milpas St
    Santa Barbara, CA 93103
    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
    502-504 N Milpas St Santa Barbara, CA 93103
    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!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Bob Tuler
    (805) 879-9605 (805) 965-5500
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!