Two-Unit Office
1525 State St Unit 104, Santa Barbara, CA 93101
For Sale
$915,000
Recently updated, vacant office space can be occupied following closing.
Property Size2,286 SF
Price / SF$400.26
Days on Market22
Property Features for 1525 State St Unit 104
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Site & Location
Neighborhood
Additional Details
Condition
Asking Price
Office Units
Property Use
Building Details
Owner Occupied
Listing Agency:
Radius Group Commercial R.E.
Listed By:
Gene Deering · License CA #01450943
(805) 879-9623
Source:
Santabarbarahomesearcher
Added: Oct 20
Changed: Nov 8
Last Checked: Nov 8 at 5:07PM
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 Radius Group Commercial R.E.
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Two adjacent office condominium units are being conveyed together as a 2,286 SF suite. The space has been renovated and is vacant, with occupancy possible after closing. Four dedicated parking spaces are included.
The property is at 1525 State St in Santa Barbara, within the professional district.
The property is at 1525 State St in Santa Barbara, within the professional district.
Key Highlights
- Two adjacent office condo units sold together
- 2,286 SF combined office suite
- Recently renovated and vacant
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,782
Cap Rate
4.46%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$815,640
$815.6K
Cap Rate 7%
$582,600
$582.6K
Cap Rate 9%
$453,133
$453.1K
Market Conditions
NOI Build-Up for 2,286 SF
Gross rent
$60.4K $26.40/SF
− Vacancy
−$6.0K −$2.61/SF
EGI
$54.4K $23.79/SF
− OpEx
−$13.6K −$5.95/SF
NOI
$40.8K $17.84/SF
Area
Santa Barbara County, CA
Vacancy
9.90%
Lease Rate
$26.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$815,640
Cap Rate 7%
$582,600
Cap Rate 9%
$453,133
Alternative Uses
Best Use
Office B
$582.6K
$509.8K – $679.7K
NOI $40,782 @ 7.0% cap · market cap 4.46%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$717.5K
$627.8K – $837.1K
NOI $50,224 @ 7.0% cap · market cap 5.49%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
2
Office units
Location Intelligence
Trade Area within ½ mile
5,393
Businesses Nearby
Explore this area
Business Placement
Demographics for 93101, CA
30,513
Population
13,664
Households
2.2
Avg Household Size
36
Median Age
41%
College-Educated
83%
High-School Grad
3.2 sq mi
ZIP Area
9,535
Density / Sq Mi
$79,868
Median Household Income
$42,614
Median Earnings
$2,109
Median Rent
$1,122,200
Median Home Value
Market
Properties on Market for Office Units in Santa Barbara
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Office unit - Recently updated, vacant office space can be occupied following closing.
Where is this office unit located?
The property is located at 1525 State St Unit 104 Santa Barbara, CA.
What is the asking price?
The asking price for this property is $915,000.
What are key features of this property?
This property features: Two adjacent office condo units sold together; 2,286 SF combined office suite; Recently renovated and vacant
