Divisible Flex Industrial
224 E.Highway 246 Buellton, CA 93427
224 E.Highway 246, Buellton, CA, 93427
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For Sale
Contact for pricing
Industrial flex building divisible into four separately metered units with rooftop solar and 20-foot ceilings.
Property Size9,000 SF
Price / SF$438.89
Days on Market178
Property Features for 224 E.Highway 246
General Information
- Standard status
- Active
- Size
- 9,000 SF
- Property subtype
- Office, Industrial
Listing agency
The Herman Company
Listed by
Paul Herman · License #CA01398183
Source
Crexi
Added: Jan 24 Updated: Jul 20 at 8:55PM Checked: Jul 20 at 8:55PM
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 The Herman Company
Investment Insights
Based on property information with market context.
This flex industrial property features heavy power infrastructure, a rooftop solar system, and 20-foot ceilings. The building is divisible into four separately metered units and includes 21 private offices, conference rooms, and climate-controlled amenities throughout.
Located near the 101 and 246 highway interchange, the property is positioned with access to the Santa Barbara Wine Country gateway and is described as benefiting from approximately 24,000 cars per day traffic.
The current improvements occupy only 15% of the lot, leaving room for additional storage and parking consistent with the property’s stated flexibility. The offering is presented as suitable for owner-users and investors seeking warehouses and office capacity, as well as for potential repositioning toward medical, industrial, or multi-family use.
Located near the 101 and 246 highway interchange, the property is positioned with access to the Santa Barbara Wine Country gateway and is described as benefiting from approximately 24,000 cars per day traffic.
The current improvements occupy only 15% of the lot, leaving room for additional storage and parking consistent with the property’s stated flexibility. The offering is presented as suitable for owner-users and investors seeking warehouses and office capacity, as well as for potential repositioning toward medical, industrial, or multi-family use.
Key Highlights
- Industrial flex building divisible into four separately metered units
- Rooftop solar system and heavy power infrastructure
- 20‑foot ceilings throughout the building
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $237.6k | $26.40 |
| − Vacancy | −$23.5k | −$2.61 |
| EGI | $214.1k | $23.79 |
| − OpEx | −$53.5k | −$5.95 |
| NOI | $160.6k | $17.84 |
9,000 SF · lease $26.40/SF/yr · vacancy 9.90% · expense 25.00%
Alternative Uses
Best Use
Office B
$2.29M
$2.01M – $2.68M
NOI $160,558 @ 7.0% cap · market cap 4.06%
Second Best
Flex RnD
$1.65M
$1.44M – $1.92M
NOI $115,402 @ 7.0% cap · market cap 2.92%
Theoretical Best
Multifamily LT 5
$2.82M
$2.47M – $3.30M
NOI $197,731 @ 7.0% cap · market cap 5.01%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Gary Air Conditioning ...
Hardware & Home Improvement
Coastal Vineyard Care ...
Corporate Office
Tierramar Vineyard Management
Business Management Consultant
Similar For Sale Nearby
Similar Off Market Nearby
- New West Catering Co — 181 Industrial Way Ste B, Buellton, CA 93427
- Coastal Cuisine Catering Co — 330 W Hwy 246 SPC 164, Buellton, CA 93427
- High On The Hog Catering Inc. — 100 Los Padres Way #2, Buellton, CA 93427
FAQs
What type of property is this?
Flex space - Industrial flex building divisible into four separately metered units with rooftop solar and 20-foot ceilings.
Where is this flex space located?
The property is located at 224 E.Highway 246 Buellton, CA.
What is the asking price?
The asking price for this property is $3,950,000.
What are key features of this property?
This property features: Industrial flex building divisible into four separately metered units; Rooftop solar system and heavy power infrastructure; 20‑foot ceilings throughout the building
