Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Montecito Land for Custom Estate Title is generated by Realmo AI

    488 Barker Pass Road, Santa Barbara, CA 93108

    View on Map
    Claim this Listing
    For Sale
    $1,800,000

    LAND - SANTA BARBARA, CA

    Lot size:
    0.90 Acres
    Added:
    Jan 8, 2026
    Days on Market:
    143
    Last Refresh:
    May 31 at 1:06 pm

    Property Features for 488 Barker Pass Road

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    013-210-043
    Lot size
    0.90 Acres

    We can help!

    Listing Contact
    Marcy Bazzani

    Listing agent Marcy Bazzani

    Listing office Village Properties 1250 Coast Village Rd, Santa Barbara, CA

    Listing date Jan 8, 2026

    MLS# 26-72 Listing URL

    Copyright © 2026 Santa Barbara Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Prime 0.90‑acre property in highly desirable Montecito, CA, offering an exceptional opportunity to build a custom luxury estate.
    • Located within the esteemed and highly‑ranked Cold Spring Elementary School district.
    • Gentle slope is ideal for creating a stunning hilltop estate with an impressive drive‑up approach.
    • World‑class location in Montecito.
    • Opportunity to build a custom dream home.
    • Property offers prestige and unmatched educational value.

    Overview

    This 0.90-acre property presents an opportunity to build a custom luxury estate in Montecito, California. The land features a gentle slope, suitable for creating a hilltop estate with a drive-up approach. The property is located within the Cold Spring Elementary School district.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center Big Box & Wholesale Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Santa Barbara
    County
    Santa Barbara
    State
    California
    Longitude
    -119.667027
    Latitude
    34.439217

    Nearby Similar for Sale

    • $6,750,000
      10,650 SF

      Santa Barbara Multi-Tenant Investment Opportunity

      Multi-tenant investment opportunity in Santa Barbara's San Roque neighborhood.
      3609 State Street, Santa Barbara, CA 93105
      View Details
    • $1,995,000
      2,012 SF

      Santa Barbara Multifamily Investment Opportunity

      Charming four-unit property near downtown Santa Barbara with income potential.
      308 W De La Guerra Street, SANTA BARBARA, CA 93101
      View Details
    • $1,750,000
      1,060 SF

      Storefront with Cottage and Parking

      Commercial property with storefront, cottage, parking in Santa Barbara.
      211 W Victoria Street, SANTA BARBARA, CA 93101
      View Details
    • $1,740,000
      1,456 SF

      Santa Barbara Duplex on Lower East

      Well-maintained duplex in a convenient Santa Barbara location.
      124 Citrus Avenue, SANTA BARBARA, CA 93103
      View Details
    • $4
      910 SF

      Remodeled Restaurant Space on Pardall

      Remodeled 910 SF restaurant space ready for your concept.
      6580 Pardall Road, SANTA BARBARA, CA 93117
      View Details
    • $2,650,000
      3,400 SF

      Updated Santa Barbara Home with JADU

      Updated 4-bedroom home with permitted JADU for flexible living.
      2937 Glen Albyn Drive, SANTA BARBARA, CA 93105
      View Details
    • $1,695,000

      Riviera Land with Panoramic Views

      Rare opportunity to build a custom home with ocean views.
      40 Rincon Vista Road, SANTA BARBARA, CA 93103
      View Details
    • $1,450,000

      Riviera Land with Mountain Views

      Land available on the Riviera with mountain views.
      1208 Las Alturas Road, SANTA BARBARA, CA 93103
      View Details
    • $6,585
      1,530 SF

      Established Restaurant Location For Lease

      High-visibility restaurant space with patio on signalized corner.
      2000 De La Vina Street, SANTA BARBARA, CA 93105
      View Details
    • $860,000

      Riviera Lot with Ocean Views

      Desirable Riviera lot ready for custom home development.
      1037 Las Alturas Road, SANTA BARBARA, CA 93103
      View Details
    • $2,650,000

      Remodeled Duplex in Santa Barbara

      Turnkey duplex near landmarks, remodeled with modern amenities.
      518 E Islay Street, SANTA BARBARA, CA 93101
      View Details
    • $2,350,000
      4,201 SF

      Retail Suites in Santa Barbara

      Retail suites totaling 4,201 SF in Santa Barbara.
      631-633 Chapala St, Santa Barbara, CA 93101
      View Details

    FAQs

    What type of property is this?
    Land - 0.90 acre land in Montecito, build your custom dream home.
    Where is this land located?
    The property is located at 488 Barker Pass Road Santa Barbara, CA.
    What is the asking price?
    The asking price for this property is $1,800,000.
    What are key features of this property?
    This property features: Prime 0.90‑acre property in highly desirable Montecito, CA, offering an exceptional opportunity to build a custom luxury estate.; Located within the esteemed and highly‑ranked Cold Spring Elementary School district.; Gentle slope is ideal for creating a stunning hilltop estate with an impressive drive‑up approach.
    (805) 565-8868
    We can help!
    Listing Contact
    Marcy Bazzani
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    488 Barker Pass Road, SANTA BARBARA, CA 93108
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!