Retail Portfolio on Milpas
826-836 N Milpas St Portfolio Santa Barbara, CA
826-836 N Milpas St Portfolio, Santa Barbara, CA, 00000
Contact for pricing
For Sale
Contact for pricing
Three retail buildings for sale in Santa Barbara, California.
Property Size8,079 SF
Lot Size0.60 Acres
Price / SF$433.22
Days on Market1337
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) 617-3844
Listed by
Pamela Scott
(805) 617-3844
Source
Moodyscre
Added: Nov 22, 2022 Updated: Jul 10 at 11:57AM Checked: Jul 21 at 5:24AM
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
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.
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $174.5k | $21.60 |
| − Vacancy | −$5.8k | −$0.71 |
| EGI | $168.7k | $20.89 |
| − OpEx | −$42.2k | −$5.22 |
| NOI | $126.6k | $15.67 |
8,079 SF · lease $21.60/SF/yr · vacancy 3.30% · expense 25.00%
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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Strip malls
Similar For Sale Nearby
FAQs
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.
