Goleta Target NNN-Leased
For Sale
Contact for pricing
6865 Hollister Ave, Goleta, CA 93117
Premier single-tenant Target property in Goleta, Santa Barbara County.
Property Size116,612 SF
Lot Size7.64 Acres
Price / SF$545.40
Days on Market187
Property Features for 6865 Hollister Ave
General Information
Standard status
Active
Size
116,612 SF
Lot size
7.64 Acres
Property subtype
Retail
Listing Agency:
Keller Williams Realty
(213) 298-3593
Listed By:
Bill Bauman · License #CA RE Lic. #00969493
Source:
Nmrk
Added: Jan 27
Changed: Jul 6
Last Checked: Aug 1 at 5:59AM
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 Keller Williams Realty
Investment Insights
Based on property information with market context.
This is a rare investment opportunity to acquire a fee simple interest in a single-tenant, NNN-leased Target property in Goleta, Santa Barbara County. The retail asset features a newly constructed, full-size Target store totaling approximately 116,612 square feet, positioned on a 7.64-acre site. The property is secured by a 20-year lease with Target Corporation. The lease commenced just over five years ago and provides for 10% rental escalations every five years, as well as four additional ten-year renewal options. Target selected this location in 2018. Goleta is a market bolstered by demographics and a thriving economy. The city is home to the University of California, Santa Barbara, with an enrollment of 26,325 students. The property serves a trade area, encompassing the communities of Santa Barbara, Carpinteria, Montecito, Solvang, Santa Ynez, and Goleta itself, together boasting a population exceeding 153,000 residents and an average annual household income of $131,000. Goleta’s retail market generated over $1.05 billion in sales, highlighting the area’s retail vitality.
Key Highlights
- Long‑term (20‑year) NNN lease with Target Corporation, providing stable and passive income.
- Located in Goleta, a highly desirable coastal community within Santa Barbara County.
- Newly constructed, full‑size Target store (approximately 116,612 square feet) on a 7.64‑acre site.**
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 | $2.52M | $21.60 |
| − Vacancy | −$83.1k | −$0.71 |
| EGI | $2.44M | $20.89 |
| − OpEx | −$608.9k | −$5.22 |
| NOI | $1.83M | $15.67 |
116,612 SF · lease $21.60/SF/yr · vacancy 3.30% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$26.10M
$22.83M – $30.45M
NOI $1,826,774 @ 7.0% cap · market cap 2.87%
Second Best
Retail
$25.89M
$22.65M – $30.20M
NOI $1,812,150 @ 7.0% cap · market cap 2.85%
Theoretical Best
Multifamily LT 5
$36.60M
$32.02M – $42.70M
NOI $2,561,979 @ 7.0% cap · market cap 4.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
736
Businesses Nearby
605k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Superstores 38%
Dining 17%
Home Improvements & Furnishings 15%
Apparel 9%
Costco Wholesale
Superstores
123,769 visits/mo
0.5 miles
Target
Superstores
108,073 visits/mo
0.1 miles
The Home Depot
Home Improvements & Furnishings
55,907 visits/mo
0.3 miles
Ross Dress for Less
Apparel
35,008 visits/mo
0.4 miles
Best Buy
Electronics
31,048 visits/mo
0.5 miles
Demographics for 93117, CA
53,430
Population
18,208
Households
2.9
Avg Household Size
28
Median Age
49%
College-Educated
90%
High-School Grad
168.1 sq mi
ZIP Area
318
Density / Sq Mi
$85,711
Median Household Income
$28,542
Median Earnings
$1,980
Median Rent
$1,021,700
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Premier single-tenant Target property in Goleta, Santa Barbara County.
Where is this grocery and convenience store located?
The property is located at 6865 Hollister Ave Goleta, CA.
What is the asking price?
The asking price for this property is Off market.
What are key features of this property?
This property features: Long‑term (20‑year) NNN lease with Target Corporation, providing stable and passive income.; Located in Goleta, a highly desirable coastal community within Santa Barbara County.; Newly constructed, full‑size Target store (approximately 116,612 square feet) on a 7.64‑acre site.**
