Penthouse Office
For Sale
Contact for pricing
3944 State St, Santa Barbara, CA 93105
Penthouse office spaces with abundant natural light and efficient layouts, offered for sale with 48 shared parking spaces.
Property Size2,288 SF
Days on Market321
Property Features for 3944 State St
General Information
Standard status
Active
Size
2,288 SF
Total Parking Spaces
48
Property subtype
Commercial
Site & Location
Neighborhood
Hope
Highway Access
Yes
Listing Agency:
Hayes Commercial Group
Listed By:
Kris Roth
(805) 898-4361
Source:
Santabarbarahomesearcher
Added: Dec 7, 2025
Changed: Oct 1
Last Checked: Oct 23 at 7:21AM
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 Hayes Commercial Group
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Investment Insights
Based on property information with market context.
These penthouse office spaces feature abundant natural light and efficient layouts in a quiet setting. The offering includes access to 48 shared parking spaces for occupants and visitors.
The property is located on State Street in Santa Barbara’s Upper State Street area, with convenient access to Highway 101 and nearby shopping and restaurants.
For showings, contact the listing agents; the public remarks indicate a minimum 3-year term.
The property is located on State Street in Santa Barbara’s Upper State Street area, with convenient access to Highway 101 and nearby shopping and restaurants.
For showings, contact the listing agents; the public remarks indicate a minimum 3-year term.
Key Highlights
- Penthouse office spaces offering abundant natural light
- Efficient layouts in a quiet setting
- Located on State Street in Santa Barbara’s Upper State Street area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,817
Suggested Prices Based on Cap Rates
Cap Rate 5%
$816,340
$816.3K
Cap Rate 7%
$583,100
$583.1K
Cap Rate 9%
$453,522
$453.5K
Market Conditions
NOI Build-Up for 2,288 SF
Gross rent
$60.4K $26.40/SF
− Vacancy
−$6.0K −$2.61/SF
EGI
$54.4K $23.79/SF
− OpEx
−$13.6K −$5.95/SF
NOI
$40.8K $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 Rate 5%
$816,340
Cap Rate 7%
$583,100
Cap Rate 9%
$453,522
Alternative Uses
Best Use
Office B
$583.1K
$510.2K – $680.3K
NOI $40,817 @ 7.0% cap · market cap 4,081,700.00%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$718.1K
$628.4K – $837.8K
NOI $50,268 @ 7.0% cap · market cap 5,026,800.00%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,626
Businesses Nearby
Explore this area
Business Placement
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
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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 unit - Penthouse office spaces with abundant natural light and efficient layouts, offered for sale with 48 shared parking spaces.
Where is this office unit located?
The property is located at 3944 State St Santa Barbara, CA.
What are key features of this property?
This property features: Penthouse office spaces offering abundant natural light; Efficient layouts in a quiet setting; Located on State Street in Santa Barbara’s Upper State Street area
