Renovated Congregate Living Health
For Sale
$2,499,000
1430 Solomon Rd, Santa Maria, CA 93455
18-bed congregate living health facility on an acre lot.
Property Size5,714 SF
Lot Size1.00 Acre
Days on Market276
Property Features for 1430 Solomon Rd
General Information
Standard status
Active
Size
5,714 SF
Lot size
1.00 Acre
Property subtype
Commercial
Building Details
Building Size
5,714 SF
Year Built
1977
Listing Agency:
(323) 304-9898
Listed By:
MIRA GONZAGA
Source:
Elliman
Added: Nov 27, 2025
Changed: Aug 21
Last Checked: Aug 29 at 10:41AM
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 MIRA GONZAGA
Investment Insights
Based on property information with market context.
The property is situated on an acre lot within a residential area. It features a gated entrance and a large front yard capable of accommodating multiple vehicles. The building has a bright and open floor plan, with views from the large kitchen, a large living room with a fireplace, and large windows. The property was renovated for use as an 18-bed congregate living health facility (CLHF). All rooms have exit doors. Wide receiving doors are located at the back, connecting to the rear ramp. Additional ramps are present on the front and side of the house.
Key Highlights
- Large one‑acre lot in a prime residential area.
- Renovated for use as an 18‑bed congregate living health facility (CLHF).
- Gated property with a large front yard and ample parking.
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
$83,037
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
3.32%
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%
$1,660,740
$1.7M
Cap Rate 7%
$1,186,243
$1.2M
Cap Rate 9%
$922,633
$922.6K
Market Conditions
NOI Build-Up for 5,714 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
$159.8K $27.96/SF
− Vacancy
−$8.8K −$1.54/SF
EGI
$151.0K $26.42/SF
− OpEx
−$67.9K −$11.89/SF
NOI
$83.0K $14.53/SF
Area
Santa Maria, CA
Vacancy
5.50%
Lease Rate
$27.96 /SF/Yr
Expense Ratio
45.00%
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%
$1,660,740
Cap Rate 7%
$1,186,243
Cap Rate 9%
$922,633
Alternative Uses
Best Use
Apartment 5plus
$1.19M
$1.04M – $1.38M
NOI $83,037 @ 7.0% cap · market cap 3.32%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.93M
$1.69M – $2.25M
NOI $135,161 @ 7.0% cap · market cap 5.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
39
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 93455, CA
45,282
Population
16,087
Households
2.8
Avg Household Size
40
Median Age
32%
College-Educated
89%
High-School Grad
118.3 sq mi
ZIP Area
383
Density / Sq Mi
$108,501
Median Household Income
$53,120
Median Earnings
$2,267
Median Rent
$572,700
Median Home Value
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Senior housing / Retirement Home - 18-bed congregate living health facility on an acre lot.
Where is this senior housing / retirement home located?
The property is located at 1430 Solomon Rd Santa Maria, CA.
What is the asking price?
The asking price for this property is $2,499,000.
What are key features of this property?
This property features: Large one‑acre lot in a prime residential area.; Renovated for use as an 18‑bed congregate living health facility (CLHF).; Gated property with a large front yard and ample parking.
