Coastal Two-Building Office
For Sale
$11,785,000
6185 Carpinteria Avenue, Carpinteria, CA 93013
Two-story office buildings provide kitchenettes, break rooms, patios, and an open-air connection for professional or creative users.
Property Size40,763 SF
Lot Size3.58 Acres
Price / SF$289.11
Days on Market10
Property Features for 6185 Carpinteria Avenue
General Information
Standard status
Active
Size
40,763 SF
Lot size
3.58 Acres
Property subtype
Business
Amenities
kitchenettes
break rooms
outdoor patios
walking trails
Building Details
Building Size
40,763 SF
Buildings
2
Stories
2
Listing Agency:
Radius Group Commercial R.E.
(805) 965-5500
Listed By:
Robert Tuler
Source:
Erichaskellgroup
Added: Aug 14
Changed: Aug 21
Last Checked: Aug 22 at 10:22AM
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 Radius Group Commercial R.E.
Investment Insights
Based on property information with market context.
This office property comprises two separate two-story buildings totaling approximately 40,763 square feet on approximately 3.58 acres. An open-air breezeway links the structures, while multiple kitchenettes, break rooms, and outdoor patios support a campus-style workplace for professional and creative users.
The property is positioned on the Carpinteria bluffs overlooking the Pacific Ocean. Walking trails along the bluffs surround the site, and the coastal setting provides access to outdoor areas and ocean views from the office environment.
The property is positioned on the Carpinteria bluffs overlooking the Pacific Ocean. Walking trails along the bluffs surround the site, and the coastal setting provides access to outdoor areas and ocean views from the office environment.
Key Highlights
- Two separate two‑story office buildings totaling +-40,763 square feet
- Set on +-3.58 acres overlooking the Pacific Ocean
- Open‑air breezeway connects the office buildings
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
$727,204
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
6.17%
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%
$14,544,080
$14.5M
Cap Rate 7%
$10,388,629
$10.4M
Cap Rate 9%
$8,080,044
$8.1M
Market Conditions
NOI Build-Up for 40,763 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
$1.08M $26.40/SF
− Vacancy
−$106.5K −$2.61/SF
EGI
$969.6K $23.79/SF
− OpEx
−$242.4K −$5.95/SF
NOI
$727.2K $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%
$14,544,080
Cap Rate 7%
$10,388,629
Cap Rate 9%
$8,080,044
Alternative Uses
Best Use
Office B
$10.39M
$9.09M – $12.12M
NOI $727,204 @ 7.0% cap · market cap 6.17%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$12.79M
$11.19M – $14.93M
NOI $895,568 @ 7.0% cap · market cap 7.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
169
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?
Office building - Two-story office buildings provide kitchenettes, break rooms, patios, and an open-air connection for professional or creative users.
Where is this office building located?
The property is located at 6185 Carpinteria Avenue Carpinteria, CA.
What is the asking price?
The asking price for this property is $11,785,000.
What are key features of this property?
This property features: Two separate two‑story office buildings totaling +-40,763 square feet; Set on +-3.58 acres overlooking the Pacific Ocean; Open‑air breezeway connects the office buildings
