Mixed-Use Property Near
For Sale
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3823 Santa Claus Ln, Carpinteria, CA 93013
Mixed-use property with retail, office, and live-work potential.
Property Size5,697 SF
Lot Size0.33 Acres
Price / SF$579.25
Days on Market177
Property Features for 3823 Santa Claus Ln
General Information
Standard status
Active
Size
5,697 SF
Lot size
0.33 Acres
Property subtype
Office, Retail
Listing Agency:
Beachside Partners
(805) 705-7311
Listed By:
Nick Henry · License #01748131
Source:
Crexi
Added: Feb 16
Changed: Aug 9
Last Checked: Aug 11 at 7:45PM
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.
Located along Santa Claus Ln, between Montecito and Carpinteria, this mixed-use property features four ground-floor retail/office suites and one second-floor office suite. The building comprises approximately 5,697 square feet of building area situated on a 14,375 square foot lot. The property benefits from gated on-site parking. Suite C includes a large storage area equipped with loading doors, floor drains, wash sink, heated flooring, and surround-sound speakers. Suite D on the second floor is outfitted with a full bathroom and kitchenette, offering a private space and the potential for a live/work environment. The site is surrounded by established businesses, including Padaro Beach Grill, Rincon Beach Club, A-Frame Surf Shop, Rowan Boutique, and Garden Market. A revitalization initiative, the Santa Claus Lane Improvement Project, is underway, delivering enhanced beach access, expanded public parking, and a new pedestrian and bicycle pathway connecting Carpinteria and Summerland.
Key Highlights
- Rare commercial property: One of only nine parcels on Santa Claus Lane, a highly desirable coastal location.
- Mixed‑use property: Features retail/office suites providing diverse income potential.
- Prime location: Situated among established businesses, benefiting from strong synergy.
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
3.08%
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 3.08%
Second Best
Retail
$1.26M
$1.11M – $1.48M
NOI $88,531 @ 7.0% cap · market cap 2.68%
Theoretical Best
Multifamily LT 5
$1.79M
$1.56M – $2.09M
NOI $125,164 @ 7.0% cap · market cap 3.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
246
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
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use property with retail, office, and live-work potential.
Where is this mixed-use property located?
The property is located at 3823 Santa Claus Ln Carpinteria, CA.
What is the asking price?
The asking price for this property is $3,300,000.
What are key features of this property?
This property features: Rare commercial property: One of only nine parcels on Santa Claus Lane, a highly desirable coastal location.; Mixed‑use property: Features retail/office suites providing diverse income potential.; Prime location: Situated among established businesses, benefiting from strong synergy.
