Two-Story Office
For Sale
$4,850,000
218 W Carmen Ln, Santa Maria, CA 93458
Elevator-served professional suites include parking and a landscaped courtyard with fountain.
Property Size25,000 SF
Days on Market206
Property Features for 218 W Carmen Ln
General Information
Standard status
Active
Size
25,000 SF
Elevators
Yes
Property subtype
Office
Occupancy
100%
Amenities
courtyard with fountain and lush landscaping
Building Details
Building Size
25,000 SF
Stories
2
Tenancy
Multi
Listing Agency:
Pacifica Commercial Realty
Listed By:
Mike Kelly · License #01800988
Source:
Commercialcafe
Added: Mar 25
Changed: Oct 14
Last Checked: Oct 16 at 6:10AM
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 Pacifica Commercial Realty
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Investment Insights
Based on property information with market context.
This 25000-square-foot office project in Santa Maria contains multiple suite layouts and sizes within a two-story building. An elevator serves the property, which also includes parking and a landscaped courtyard featuring a fountain. The improvements date to 1982, and the building is currently 100% leased.
Located on W. Carmen Lane in central Santa Maria, the property carries PD C-2 zoning. Its office configuration, varied suite arrangement, elevator, parking, and outdoor courtyard are established features of the project.
Located on W. Carmen Lane in central Santa Maria, the property carries PD C-2 zoning. Its office configuration, varied suite arrangement, elevator, parking, and outdoor courtyard are established features of the project.
Key Highlights
- 25000‑square‑foot office project in Santa Maria
- Two‑story building with elevator service
- Various office suite floor plans and sizes
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$425,700
Cap Rate
8.78%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$8,514,000
$8.5M
Cap Rate 7%
$6,081,429
$6.1M
Cap Rate 9%
$4,730,000
$4.7M
Market Conditions
NOI Build-Up for 25,000 SF
Gross rent
$660.0K $26.40/SF
− Vacancy
−$92.4K −$3.70/SF
EGI
$567.6K $22.70/SF
− OpEx
−$141.9K −$5.68/SF
NOI
$425.7K $17.03/SF
Area
Santa Maria, CA
Vacancy
14.00%
Lease Rate
$26.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$8,514,000
Cap Rate 7%
$6,081,429
Cap Rate 9%
$4,730,000
Alternative Uses
Best Use
Office B
$6.08M
$5.32M – $7.10M
NOI $425,700 @ 7.0% cap · market cap 8.78%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$8.45M
$7.39M – $9.86M
NOI $591,360 @ 7.0% cap · market cap 12.19%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,297
Businesses Nearby
Explore this area
Business Placement
Demographics for 93458, CA
59,927
Population
14,433
Households
4.2
Avg Household Size
28
Median Age
9%
College-Educated
50%
High-School Grad
28.4 sq mi
ZIP Area
2,110
Density / Sq Mi
$73,518
Median Household Income
$30,278
Median Earnings
$1,825
Median Rent
$460,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Office building - Elevator-served professional suites include parking and a landscaped courtyard with fountain.
Where is this office building located?
The property is located at 218 W Carmen Ln Santa Maria, CA.
What is the asking price?
The asking price for this property is $4,850,000.
What are key features of this property?
This property features: 25000‑square‑foot office project in Santa Maria; Two‑story building with elevator service; Various office suite floor plans and sizes
