Industrial Flex Condo with
For Sale
Contact for pricing
130 Powers Avenue, Santa Barbara, CA 93103
Multi-level commercial condo with industrial, office, and storage areas in Railroad Square.
Property Size1,700 SF
Price / SF$500
Days on Market8
Property Features for 130 Powers Avenue
General Information
Standard status
Active
Size
1,700 SF
Total Parking Spaces
2
Property subtype
Office, Industrial
Zoning
M-I
Building Details
Units
1
Listing Agency:
Hayes Commercial Group
Listed By:
Christos Celmayster · License #CA 01342996
(805) 898-4388
Source:
Crexi
Added: Aug 27
Changed: Sep 1
Last Checked: Sep 1 at 9:17PM
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 Hayes Commercial Group
Investment Insights
Based on property information with market context.
This 1,700-square-foot commercial condominium in Railroad Square combines approximately 1,300 square feet of ground-floor industrial area with a break room and restroom, approximately 400 square feet of second-floor office space, and approximately 400 square feet of bonus mezzanine storage. The property has recently served as an automotive repair shop and will be vacant when the sale closes. The M-I zoning designation is documented for the unit.
Owners and tenants at Railroad Square have access to shared restrooms, showers, and a break room. The property is located at 130 Powers Avenue in Santa Barbara, California, with the 93103 ZIP code.
Owners and tenants at Railroad Square have access to shared restrooms, showers, and a break room. The property is located at 130 Powers Avenue in Santa Barbara, California, with the 93103 ZIP code.
Key Highlights
- 1,700 SF commercial condominium in Railroad Square
- Approximately 1,300 SF of ground‑floor industrial area
- Approximately 400 SF of second‑floor office space
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$26,418
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.11%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$528,360
$528.4K
Cap Rate 7%
$377,400
$377.4K
Cap Rate 9%
$293,533
$293.5K
Market Conditions
NOI Build-Up for 1,700 SF
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.
Gross rent
$40.8K $24.00/SF
− Vacancy
−$3.1K −$1.80/SF
EGI
$37.7K $22.20/SF
− OpEx
−$11.3K −$6.66/SF
NOI
$26.4K $15.54/SF
Area
Santa Barbara County, CA
Vacancy
7.50%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$528,360
Cap Rate 7%
$377,400
Cap Rate 9%
$293,533
Alternative Uses
Best Use
Retail
$377.4K
$330.2K – $440.3K
NOI $26,418 @ 7.0% cap · market cap 3.11%
Second Best
Flex RnD
$311.4K
$272.5K – $363.3K
NOI $21,798 @ 7.0% cap · market cap 2.56%
Theoretical Best
Multifamily LT 5
$533.6K
$466.9K – $622.5K
NOI $37,349 @ 7.0% cap · market cap 4.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,469
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 93103, CA
20,029
Population
8,069
Households
2.5
Avg Household Size
39
Median Age
46%
College-Educated
87%
High-School Grad
5.5 sq mi
ZIP Area
3,642
Density / Sq Mi
$118,118
Median Household Income
$46,441
Median Earnings
$2,407
Median Rent
$1,555,600
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Multi-level commercial condo with industrial, office, and storage areas in Railroad Square.
Where is this flex space located?
The property is located at 130 Powers Avenue Santa Barbara, CA.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: 1,700 SF commercial condominium in Railroad Square; Approximately 1,300 SF of ground‑floor industrial area; Approximately 400 SF of second‑floor office space
