Whole Foods NNN Investment
For Sale
Contact for pricing
Pending
3761 State St, Santa Barbara, CA 93105
Freestanding grocery asset with renovated interiors and an extended lease term.
Property SizeContact for details
Days on Market141
Property Features for 3761 State St
General Information
Standard status
Pending
Property subtype
Retail
Occupancy
100%
Site & Location
Traffic Count
25,300 vehicles/day
Highway Access
Yes
Road Access
Yes
Building Details
Year Renovated
2022
Buildings
1
Construction
Spanish Colonial Revival
Tenancy
Single
Listing Agency:
SRS Real Estate Partners Newport Beach
(480) 221-4221
Listed By:
Matthew Mousavi · License #CA 01732226
Source:
Crexi
Added: Apr 13
Changed: Aug 30
Last Checked: Aug 30 at 6:05PM
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 SRS Real Estate Partners Newport Beach
Investment Insights
Based on property information with market context.
This fee-simple NNN property combines land and building ownership with a freestanding Whole Foods Market location in Santa Barbara. The store has operated at the site for over 15 years, and the interior received a full remodel in 2022. Spanish Colonial Revival architecture shapes the building’s exterior and interior presentation, while multiple ingress and egress points, substantial State Street frontage, and a large monument sign support access and identification.
The lease has 11 years remaining in its initial term, followed by six five-year extension options. It includes a 10% rental increase in November 2029 and at the start of each option period. The lease is corporately guaranteed by an S&P AA- rated entity and places minimal responsibilities on the landlord.
The property sits along State Street, a major retail and commuter route carrying 25,300 vehicles daily, with proximity to U.S. Highway 101 and its 136,000 VPD traffic volume. The surrounding retail corridor includes Gelson’s, Bristol Farms, Trader Joe’s, Target, Macy’s, Chick-fil-A, Chipotle, and Starbucks. The site is 0.5 miles from Hope Ranch and serves a five-mile area with more than 132,000 residents and 88,000 daytime employees.
The lease has 11 years remaining in its initial term, followed by six five-year extension options. It includes a 10% rental increase in November 2029 and at the start of each option period. The lease is corporately guaranteed by an S&P AA- rated entity and places minimal responsibilities on the landlord.
The property sits along State Street, a major retail and commuter route carrying 25,300 vehicles daily, with proximity to U.S. Highway 101 and its 136,000 VPD traffic volume. The surrounding retail corridor includes Gelson’s, Bristol Farms, Trader Joe’s, Target, Macy’s, Chick-fil-A, Chipotle, and Starbucks. The site is 0.5 miles from Hope Ranch and serves a five-mile area with more than 132,000 residents and 88,000 daytime employees.
Key Highlights
- Freestanding Whole Foods Market with fee‑simple land and building ownership
- NNN lease with 11 years remaining, six 5‑year options, and corporate guarantee from an S&P AA- rated entity
- 10% rental increase scheduled for November 2029 and at the beginning of each option period
Property Analytics
Current Use
Lease Details
25,300 VPD
Traffic count
100%
Occupancy
Single-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,570
Businesses Nearby
601k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 33%
Apparel 19%
Groceries 17%
Shops & Services 14%
Target
Superstores
64,819 visits/mo
0.3 miles
Macy's
Apparel
54,801 visits/mo
0.2 miles
Chick-fil-A
Dining
45,919 visits/mo
0.2 miles
Whole Foods Market
Groceries
37,644 visits/mo
0.2 miles
Ross Dress for Less
Apparel
30,488 visits/mo
0.4 miles
Demographics for 93105, CA
26,003
Population
11,401
Households
2.3
Avg Household Size
49
Median Age
60%
College-Educated
94%
High-School Grad
139.8 sq mi
ZIP Area
186
Density / Sq Mi
$129,549
Median Household Income
$64,371
Median Earnings
$2,572
Median Rent
$1,496,500
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
NNN property - Freestanding grocery asset with renovated interiors and an extended lease term.
Where is this nnn property located?
The property is located at 3761 State St Santa Barbara, CA.
What are key features of this property?
This property features: Freestanding Whole Foods Market with fee‑simple land and building ownership; NNN lease with 11 years remaining, six 5‑year options, and corporate guarantee from an S&P AA- rated entity; 10% rental increase scheduled for November 2029 and at the beginning of each option period
