Mixed-Use Property with Gated
For Sale
$3,500,000
3823 Santa Claus Lane A, Carpinteria, CA 93013
Multi-suite configuration combines ground-floor retail and office space with an upper-level office suite and common restrooms.
Property Size5,697 SF
Lot Size0.33 Acres
Price / SF$614.36
Days on Market197
Property Features for 3823 Santa Claus Lane A
General Information
Standard status
Active
Size
5,697 SF
Lot size
0.33 Acres
Property subtype
Commercial/Industrial
Amenities
gated on-site parking
common restrooms
Building Details
Tenancy
Multi
Listing Agency:
Beachside Partners
(805) 406-6463
Listed By:
Jason Liehr · License #02152826
(805) 406-6463
Source:
Exitrealty
Added: Feb 14
Changed: Aug 29
Last Checked: Aug 29 at 8:59PM
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 Beachside Partners
Investment Insights
Based on property information with market context.
This mixed-use property contains four (4) ground-floor retail/office suites and one (1) office suite on the second floor, supported by two (2) common restrooms. The building encompasses approximately 5,697 SF on a 14,375 SF lot and includes gated on-site parking.
Suite C adds substantial functional space with a large storage area, loading doors, floor drains, a wash sink, heated flooring, and surround-sound speakers. The upper-level Suite D includes a full bathroom and kitchenette, creating a self-contained office setting with live/work potential as described in the property information.
Suite C adds substantial functional space with a large storage area, loading doors, floor drains, a wash sink, heated flooring, and surround-sound speakers. The upper-level Suite D includes a full bathroom and kitchenette, creating a self-contained office setting with live/work potential as described in the property information.
Key Highlights
- Approximately 5,697 SF building on a 14,375 SF lot
- Four (4) ground‑floor retail/office suites plus one (1) second‑floor office suite
- Gated on‑site parking
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$101,633
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
2.90%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,032,660
$2.0M
Cap Rate 7%
$1,451,900
$1.5M
Cap Rate 9%
$1,129,256
$1.1M
Market Conditions
NOI Build-Up for 5,697 SF
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.
Gross rent
$150.4K $26.40/SF
− Vacancy
−$14.9K −$2.61/SF
EGI
$135.5K $23.79/SF
− OpEx
−$33.9K −$5.95/SF
NOI
$101.6K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,032,660
Cap Rate 7%
$1,451,900
Cap Rate 9%
$1,129,256
Alternative Uses
Best Use
Office B
$1.45M
$1.27M – $1.69M
NOI $101,633 @ 7.0% cap · market cap 2.90%
Second Best
Retail
$1.26M
$1.11M – $1.48M
NOI $88,531 @ 7.0% cap · market cap 2.53%
Theoretical Best
Multifamily LT 5
$1.79M
$1.56M – $2.09M
NOI $125,164 @ 7.0% cap · market cap 3.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
155
Businesses Nearby
Explore this area
Business Placement
Demographics for 93013, CA
16,299
Population
7,640
Households
2.1
Avg Household Size
45
Median Age
46%
College-Educated
87%
High-School Grad
41.4 sq mi
ZIP Area
394
Density / Sq Mi
$115,633
Median Household Income
$49,017
Median Earnings
$2,331
Median Rent
$1,074,600
Median Home Value
Market
Vacancy Rate% for Office 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?
Mixed-use property - Multi-suite configuration combines ground-floor retail and office space with an upper-level office suite and common restrooms.
Where is this mixed-use property located?
The property is located at 3823 Santa Claus Lane A Carpinteria, CA.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: Approximately 5,697 SF building on a 14,375 SF lot; Four (4) ground‑floor retail/office suites plus one (1) second‑floor office suite; Gated on‑site parking
