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

    120 State St Santa Barbara, CA

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    100% leased retail property in Santa Barbara, California.

    Type:RETAIL
    Lot size:
    1.16 Acres
    Added:
    Oct 7, 2022
    Days on Market:
    1292
    Last Refresh:
    Apr 5 at 10:18 pm

    Property Features for 120 State St

    General Information

    Standard status
    Active
    Lot size
    1.16 Acres
    Property subtype
    RETAIL

    Spaces For Lease

    at 120 State St Contact us

    We can help!

    Listing Contact
    Chris Parker

    Listing agent Chris Parker

    Listing office Radius Commercial Real Estate

    Listing date Oct 7, 2022

    Source Moodyscre

    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 Radius Commercial Real Estate

    Overview

    Retail Property in Santa Barbara

    The property is a retail property located in Santa Barbara, California. It is currently 100% leased and has no current availabilities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Starbucks Cafe & Coffee Shop Melville Winery Tasting ... Brewery & Distillery State Street Visitor ... Travel Agency McConnell's Fine Ice ... Grocery & Convenience Store Santa Barbara South ... Business Service Center

    Suggested Use

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

    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
    -119.69
    Latitude
    34.4136

    Nearby Similar for Lease

    • Sponsored
      Contact for pricing

      CA, Santa Barbara - Downtown Santa Barbara

      7 Figueroa St, Unit Suites 300, Santa Barbara, CA 93101
      View Details
    • $2/mo

      Downtown Santa Barbara Office Suite

      Charming office suite in downtown Santa Barbara with on-site parking.
      228 West Carrillo Street, Santa Barbara, CA 93101
      View Details
    • $2/mo

      Santa Barbara Office Space For Rent

      1,550 SF office space in Santa Barbara's Lagoon District.
      735 E Haley St, Santa Barbara, CA
      View Details
    • $3/mo

      Remodeled Suites on North Milpas

      Renovated suites suitable for office or retail use.
      422 N Milpas St, Santa Barbara, CA 93103
      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/mo

      Santa Barbara Office Space Available

      Office space for rent in Santa Barbara, CA.
      1332 De La Vina St, Santa Barbara, CA
      View Details
    • $2/mo

      Modern Office Space Available

      Second-floor office space with modern finishes available for sublease.
      430 Chapala St, Santa Barbara, CA
      View Details
    • $2/mo

      Creative Office Space Available

      Creative office space for rent in Santa Barbara, CA.
      826 De La Vina St, Santa Barbara, CA
      View Details
    • $2/mo

      Santa Barbara Commercial Automotive Space

      3,890 SF commercial space suitable for automotive or creative tenants.
      136 E Haley St, Santa Barbara, CA
      View Details
    • Contact for pricing

      Santa Barbara Commercial Space Available

      Commercial space available for rent in Santa Barbara, CA.
      836 Anacapa St, Santa Barbara, CA 93102
      View Details
    • $2/mo

      Santa Barbara Industrial Flex Space

      2,525 SF flex space with modern finishes for lease.
      810 Bond Ave, Santa Barbara, CA
      View Details
    • $2/mo

      Downtown Santa Barbara Office Space

      Office space for lease near State Street and Highway 101.
      228 W Carrillo St, Santa Barbara, CA
      View Details

    FAQs

    What type of property is this?
    Retail property - 100% leased retail property in Santa Barbara, California.
    Where is this retail property located?
    The property is located at 120 State St Santa Barbara, CA.
    What are key features of this property?
    This property features: 100% Leased; No Current Availabilities
    (805) 879-9642 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Chris Parker
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!