Office Unit with Dual
1525 State St Unit 106, Santa Barbara, CA 93101
For Sale
$399,000
The leased suite combines a private office with open workspace under a rolling 90-day lease.
Property Size1,122 SF
Price / SF$355.61
Days on Market22
Property Features for 1525 State St Unit 106
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Additional Details
Tenant in Place
Property Use
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 10 at 12:19PM
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.
Suite 106 contains 1,122 square feet in an office condominium project. Its layout pairs one large private office with an open workspace, and the unit can be entered from both inside and outside the building. The suite is leased on a rolling 90-day basis.
The property is at 1525 State St in Santa Barbara, on the upper portion of State Street.
The property is at 1525 State St in Santa Barbara, on the upper portion of State Street.
Key Highlights
- 1,122‑square‑foot office condominium unit
- One large private office and an open workspace
- Interior and exterior access
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,016
Cap Rate
5.02%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$400,320
$400.3K
Cap Rate 7%
$285,943
$285.9K
Cap Rate 9%
$222,400
$222.4K
Market Conditions
NOI Build-Up for 1,122 SF
Gross rent
$29.6K $26.40/SF
− Vacancy
−$2.9K −$2.61/SF
EGI
$26.7K $23.79/SF
− OpEx
−$6.7K −$5.95/SF
NOI
$20.0K $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%
$400,320
Cap Rate 7%
$285,943
Cap Rate 9%
$222,400
Alternative Uses
Best Use
Office B
$285.9K
$250.2K – $333.6K
NOI $20,016 @ 7.0% cap · market cap 5.02%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$352.1K
$308.1K – $410.8K
NOI $24,650 @ 7.0% cap · market cap 6.18%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
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 - The leased suite combines a private office with open workspace under a rolling 90-day lease.
Where is this office unit located?
The property is located at 1525 State St Unit 106 Santa Barbara, CA.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: 1,122‑square‑foot office condominium unit; One large private office and an open workspace; Interior and exterior access
