Retail Portfolio on Milpas
For Sale
Contact for pricing
826-836 N Milpas St Portfolio, Santa Barbara, CA
Three retail buildings for sale in Santa Barbara, California.
Property Size8,079 SF
Lot Size0.60 Acres
Price / SF$433.22
Days on Market1429
Property Features for 826-836 N Milpas St Portfolio
General Information
Standard status
Active
Size
8,079 SF
Lot size
0.60 Acres
Property subtype
RETAIL
Listing Agency:
GPS Commercial Real Estate
(805) 560-0040
Listed By:
Pamela Scott
(805) 617-3844
Source:
Moodyscre
Added: Nov 22, 2022
Changed: Oct 4
Last Checked: Oct 21 at 12:07AM
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 GPS Commercial Real Estate
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Available for purchase is a portfolio of three single-story retail buildings, fully occupied. The properties include a strip center, a freestanding restaurant, and a laundromat. This is the first time the property has been on the market in fifty years. The property offers a solid return with upside potential. The property features below-market rents, below-replacement cost, and annual CPI increases. The property contains 8,079 square feet.
Key Highlights
- Rare opportunity to acquire 3 single‑story retail buildings.
- 100% occupied, including a strip center, restaurant, and laundromat.
- Strong upside potential for increased returns.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$126,561
Cap Rate
3.62%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,531,220
$2.5M
Cap Rate 7%
$1,808,014
$1.8M
Cap Rate 9%
$1,406,233
$1.4M
Market Conditions
NOI Build-Up for 8,079 SF
Gross rent
$174.5K $21.60/SF
− Vacancy
−$5.8K −$0.71/SF
EGI
$168.7K $20.89/SF
− OpEx
−$42.2K −$5.22/SF
NOI
$126.6K $15.67/SF
Area
Santa Barbara County, CA
Vacancy
3.30%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,531,220
Cap Rate 7%
$1,808,014
Cap Rate 9%
$1,406,233
Alternative Uses
Best Use
Specialty Retail
$1.81M
$1.58M – $2.11M
NOI $126,561 @ 7.0% cap · market cap 3.62%
Second Best
Retail
$1.79M
$1.57M – $2.09M
NOI $125,548 @ 7.0% cap · market cap 3.59%
Theoretical Best
Multifamily LT 5
$2.54M
$2.22M – $2.96M
NOI $177,497 @ 7.0% cap · market cap 5.07%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,737
Businesses Nearby
48k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 82%
Shops & Services 18%
Jack in the Box
Dining
15,698 visits/mo
0.4 miles
Taco Bell
Dining
12,607 visits/mo
0.1 miles
Rusty's Pizza Parlor
Dining
4,304 visits/mo
0.5 miles
KFC
Dining
3,897 visits/mo
0.3 miles
O'Reilly Auto Parts
Shops & Services
3,868 visits/mo
0.4 miles
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in West region
Frequently Asked Questions
What type of property is this?
Strip mall - Three retail buildings for sale in Santa Barbara, California.
Where is this strip mall located?
The property is located at 826-836 N Milpas St Portfolio Santa Barbara, CA.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: Rare opportunity to acquire 3 single‑story retail buildings.; 100% occupied, including a strip center, restaurant, and laundromat.; Strong upside potential for increased returns.
