Commercial Warehouse with Secured
115 W Chapel St Santa Maria, CA 93458
For Sale
$995,000
As-is commercial warehouse with secured rear yard, rollup door, and alley access, plus 12 off-street parking spaces.
Property Size5,000 SF
Price / SF$199
Days on Market125
Property Features for 115 W Chapel St
General Information
Standard status
Active
Size
5,000 SF
Property subtype
Industrial
Listing Agency:
McCarty Davis Commercial Real Estate
(805) 543-1801
Listed By:
Steve Davis · License #01843738
(805) 543-1801
Source:
Elliman
Added: Mar 27
Changed: Jul 21
Last Checked: Jul 22 at 12:14PM
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 McCarty Davis Commercial Real Estate
Investment Insights
Based on property information with market context.
This as-is commercial warehouse offers highly functional interior space for purchase, along with a secured yard area at the rear of the building. The property includes a rollup door and secured yard space totaling 2,151 square feet, with alley access for practical loading and site operations. The offering also includes 12 off-street parking spaces.
Located just off North Broadway at 115 W Chapel St in Santa Maria, CA, the property benefits from alley access and dedicated parking to support tenant and customer needs.
The property is designated under Zoning: C2, within the Downtown Specific Plan, Bungalow District. Additional yard space and alley connectivity are key features of the site configuration.
Located just off North Broadway at 115 W Chapel St in Santa Maria, CA, the property benefits from alley access and dedicated parking to support tenant and customer needs.
The property is designated under Zoning: C2, within the Downtown Specific Plan, Bungalow District. Additional yard space and alley connectivity are key features of the site configuration.
Key Highlights
- 5,000 sq. ft. retail/commercial warehouse for purchase, sold as‑is
- Secured rear yard area with a rollup door
- 2,151 sq. ft. secure yard with alley access
Financial Insights For 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 | $108.0k | $21.60 |
| − Vacancy | −$9.2k | −$1.84 |
| EGI | $98.8k | $19.76 |
| − OpEx | −$29.6k | −$5.93 |
| NOI | $69.2k | $13.83 |
5,000 SF · lease $21.60/SF/yr · vacancy 8.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$988.2K
$864.7K – $1.15M
NOI $69,174 @ 7.0% cap · market cap 6.95%
Second Best
Warehouse
$757.4K
$662.7K – $883.6K
NOI $53,015 @ 7.0% cap · market cap 5.33%
Theoretical Best
Office A
$1.69M
$1.48M – $1.97M
NOI $118,272 @ 7.0% cap · market cap 11.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Similar Off Market Nearby
- Central Coast Moving & Storage — 614 S Broadway, Santa Maria, CA 93454
Frequently Asked Questions
What type of property is this?
Warehouse - As-is commercial warehouse with secured rear yard, rollup door, and alley access, plus 12 off-street parking spaces.
Where is this warehouse located?
The property is located at 115 W Chapel St Santa Maria, CA.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: 5,000 sq. ft. retail/commercial warehouse for purchase, sold as‑is; Secured rear yard area with a rollup door; 2,151 sq. ft. secure yard with alley access
