Multi-Tenant Office
For Sale
$6,195,000
1414 S Miller St Unit 7a, Santa Maria, CA 93454
Central Santa Maria property with diverse office, medical, restaurant, and executive-suite configurations.
Property Size34,595 SF
Lot Size2.50 Acres
Price / SF$179.07
Days on Market149
Property Features for 1414 S Miller St Unit 7a
General Information
Standard status
Active
Size
34,595 SF
Total Parking Spaces
103
Lot size
2.50 Acres
Property subtype
Commercial
Occupancy
83%
Additional Details
Cap Rate
5.49%
Highway Access
Yes
Office Units
27
Building Details
Year Built
1962
Buildings
1
Building Size
34,595 SF
Tenancy
Multi
Listing Agency:
Hayes Commercial Group, Inc.
Listed By:
Christos Celmayster · License #01342996
(805) 898-4388
Source:
Santaynezvalleyhomesforsale
Added: May 19
Changed: Oct 1
Last Checked: Oct 12 at 8:22PM
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, Inc.
Investment Insights
Based on property information with market context.
Built in 1962, this 34,595-square-foot office property occupies approximately 2.5 acres and includes 28 suites arranged around a courtyard. The current configuration comprises one restaurant, 24 office suites, and three suites designed for 20 separate executive suites. The property is 83% occupied and includes 103 on-site parking spaces.
Recent improvements totaling more than $1M include window replacement, HVAC upgrades, walkway and landscaping work, parking lot repairs, and electrical, plumbing, and interior upgrades. The property sits between Stowell Road and Barcellus Avenue, behind Broadway Plaza and Stowell Shopping Centers, one block from South Broadway and two blocks from Highway 101. The corridor carries more than 14,000 CPD. Current financial metrics include an in-place Cap Rate of 5.49%, with three vacancies and pending renewals noted in the property information.
Recent improvements totaling more than $1M include window replacement, HVAC upgrades, walkway and landscaping work, parking lot repairs, and electrical, plumbing, and interior upgrades. The property sits between Stowell Road and Barcellus Avenue, behind Broadway Plaza and Stowell Shopping Centers, one block from South Broadway and two blocks from Highway 101. The corridor carries more than 14,000 CPD. Current financial metrics include an in-place Cap Rate of 5.49%, with three vacancies and pending renewals noted in the property information.
Key Highlights
- 34,595 SF office and service retail property on approximately 2.5 acres
- 28 suites: one restaurant, 24 office suites, and three suites configured for 20 executive suites
- 103 on‑site parking spaces within the courtyard‑oriented property layout
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$560,439
Cap Rate
9.05%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$11,208,780
$11.2M
Cap Rate 7%
$8,006,271
$8.0M
Cap Rate 9%
$6,227,100
$6.2M
Market Conditions
NOI Build-Up for 34,595 SF
Gross rent
$1.04M $30.00/SF
− Vacancy
−$103.8K −$3.00/SF
EGI
$934.1K $27.00/SF
− OpEx
−$373.6K −$10.80/SF
NOI
$560.4K $16.20/SF
Area
Santa Maria, CA
Vacancy
10.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$11,208,780
Cap Rate 7%
$8,006,271
Cap Rate 9%
$6,227,100
Alternative Uses
Best Use
Office B
$8.42M
$7.36M – $9.82M
NOI $589,084 @ 7.0% cap · market cap 9.51%
Second Best
Healthcare Medical
$8.01M
$7.01M – $9.34M
NOI $560,439 @ 7.0% cap · market cap 9.05%
Theoretical Best
Office A
$11.69M
$10.23M – $13.64M
NOI $818,324 @ 7.0% cap · market cap 13.21%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Lease Details
27
Office units
83%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,272
Businesses Nearby
Explore this area
Business Placement
Demographics for 93454, CA
40,994
Population
12,413
Households
3.3
Avg Household Size
33
Median Age
18%
College-Educated
74%
High-School Grad
418.3 sq mi
ZIP Area
98
Density / Sq Mi
$84,178
Median Household Income
$34,883
Median Earnings
$1,750
Median Rent
$477,600
Median Home Value
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Market
Vacancy Rate% for Office in West region
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Frequently Asked Questions
What type of property is this?
Office building - Central Santa Maria property with diverse office, medical, restaurant, and executive-suite configurations.
Where is this office building located?
The property is located at 1414 S Miller St Unit 7a Santa Maria, CA.
What is the asking price?
The asking price for this property is $6,195,000.
What are key features of this property?
This property features: 34,595 SF office and service retail property on approximately 2.5 acres; 28 suites: one restaurant, 24 office suites, and three suites configured for 20 executive suites; 103 on‑site parking spaces within the courtyard‑oriented property layout
