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    Goleta Target NNN-Leased Property Title is generated by Realmo AI

    6865 Hollister Ave, Goleta, CA 93117

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    Premier single-tenant Target property in Goleta, Santa Barbara County.

    Type:Retail
    Property size:
    116,612 SF
    Lot size:
    7.64 Acres
    Added:
    Jan 27, 2026
    Days on Market:
    111
    Last Refresh:
    Apr 5 at 11:31 pm

    Property Features for 6865 Hollister Ave

    General Information

    Standard status
    Active
    Size
    116,612 SF
    Lot size
    7.64 Acres
    Property subtype
    Retail

    We can help!

    Listing Contact
    Bill Bauman

    Listing agent Bill Bauman License #CA RE Lic. #00969493

    Listing office Newmark

    Listing date Jan 27, 2026

    Source Nmrk

    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 Newmark

    HighLights

    • Long‑term (20‑year) NNN lease with Target Corporation, providing stable and passive income.
    • Located in Goleta, a highly desirable coastal community within Santa Barbara County.
    • Newly constructed, full‑size Target store (approximately 116,612 square feet) on a 7.64‑acre site.
    • Attractive 10% rental escalations every five years, plus four (4) additional ten (10) year renewal options.
    • Strategic location serving a broad trade area with a population exceeding 153,000 residents.
    • Goleta's robust retail market generated over $1.05 billion in sales in 2022.

    Overview

    This is a rare investment opportunity to acquire a fee simple interest in a single-tenant, NNN-leased Target property in Goleta, Santa Barbara County. The retail asset features a newly constructed, full-size Target store totaling approximately 116,612 square feet, positioned on a 7.64-acre site. The property is secured by a 20-year lease with Target Corporation. The lease commenced just over five years ago and provides for 10% rental escalations every five years, as well as four additional ten-year renewal options. Target selected this location in 2018. Goleta is a market bolstered by demographics and a thriving economy. The city is home to the University of California, Santa Barbara, with an enrollment of 26,325 students. The property serves a trade area, encompassing the communities of Santa Barbara, Carpinteria, Montecito, Solvang, Santa Ynez, and Goleta itself, together boasting a population exceeding 153,000 residents and an average annual household income of $131,000. Goleta’s retail market generated over $1.05 billion in sales, highlighting the area’s retail vitality.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Isalis (Bike/Boat/Book/etc) Store Party City Party Supply Store Skunk Funk Big Box & Wholesale Store Carl's Trading Co Hat Shop Bushka's Kitchen LLC (Bike/Boat/Book/etc) Store

    Suggested Use

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

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

    Similar Places Nearby

    • Target Grocery — 6865 Hollister Ave, Goleta, CA 93117
    • Albertsons — 7127 Hollister Ave #27, Goleta, CA 93117
    • Indo China Market Goleta — 6831 Hollister Ave, Goleta, CA 93117

    Location Insight

    • Map
    • Local Demand
    City
    Goleta
    County
    Santa Barbara
    State
    California
    Longitude
    -119.967
    Latitude
    34.4816

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    FAQs

    What type of property is this?
    Grocery and convenience store - Premier single-tenant Target property in Goleta, Santa Barbara County.
    Where is this grocery and convenience store located?
    The property is located at 6865 Hollister Ave Goleta, CA.
    What are key features of this property?
    This property features: Long‑term (20‑year) NNN lease with Target Corporation, providing stable and passive income.; Located in Goleta, a highly desirable coastal community within Santa Barbara County.; **Newly constructed, full‑size Target store (approximately 116,612 square feet) on a 7.64‑acre site.**
    (213) 298-3593
    We can help!
    Listing Contact
    Bill Bauman
    Real Estate License ID: CA RE Lic. #00969493
    Learn More
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    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.

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