Divisible Retail
For Sale
Contact for pricing
817 State St, Santa Barbara, CA 93101
Divisible retail suites at a prominent corner retail destination with 24-hour security at Paseo Nuevo Mall.
Property Size53,822 SF
Days on Market568
Property Features for 817 State St
General Information
Standard status
Active
Size
53,822 SF
Listing Agency:
Hayes Commercial Group
Listed By:
Francois DeJohn · License #CA01144570
(805) 898-4365
Source:
Exprealty
Added: Apr 2, 2025
Changed: Oct 6
Last Checked: Oct 20 at 9:42PM
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.
This prominent retail site at Paseo Nuevo Mall is now divisible, offering retail suites within a larger property setting. The building features prominent corner placement and 24-hour security.
The property is described as steps from the many amenities of State Street. Development is also underway to transform upper floors into residential units, with 85 units in process, and 400+ units planned on-site at Paseo Nuevo.
For buyers and brokers, the divisibility supports flexible suite configurations within an actively developing retail environment centered on Paseo Nuevo.
The property is described as steps from the many amenities of State Street. Development is also underway to transform upper floors into residential units, with 85 units in process, and 400+ units planned on-site at Paseo Nuevo.
For buyers and brokers, the divisibility supports flexible suite configurations within an actively developing retail environment centered on Paseo Nuevo.
Key Highlights
- Prominent divisible retail site at Paseo Nuevo Mall
- Prominent corner location at a retail destination
- 24‑hour security
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$836,394
Suggested Prices Based on Cap Rates
Cap Rate 5%
$16,727,880
$16.7M
Cap Rate 7%
$11,948,486
$11.9M
Cap Rate 9%
$9,293,267
$9.3M
Market Conditions
NOI Build-Up for 53,822 SF
Gross rent
$1.29M $24.00/SF
− Vacancy
−$96.9K −$1.80/SF
EGI
$1.19M $22.20/SF
− OpEx
−$358.5K −$6.66/SF
NOI
$836.4K $15.54/SF
Area
Santa Barbara County, CA
Vacancy
7.50%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$16,727,880
Cap Rate 7%
$11,948,486
Cap Rate 9%
$9,293,267
Alternative Uses
Best Use
Retail
$11.95M
$10.45M – $13.94M
NOI $836,394 @ 7.0% cap · market cap 83,639,400.00%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$16.89M
$14.78M – $19.71M
NOI $1,182,476 @ 7.0% cap · market cap 118,247,600.00%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
7,003
Businesses Nearby
324k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Apparel 23%
Groceries 21%
Shops & Services 16%
Leisure 14%
Ralphs
Groceries
46,819 visits/mo
0.2 miles
Marshalls
Apparel
37,135 visits/mo
0.1 miles
Metropolitan Fiesta 5 Theatre
Leisure
27,969 visits/mo
0.1 miles
World Market
Home Improvements & Furnishings
25,963 visits/mo
0.3 miles
Smart & Final
Groceries
22,316 visits/mo
0.5 miles
Demographics for 93101, CA
30,513
Population
13,664
Households
2.2
Avg Household Size
36
Median Age
41%
College-Educated
83%
High-School Grad
3.2 sq mi
ZIP Area
9,535
Density / Sq Mi
$79,868
Median Household Income
$42,614
Median Earnings
$2,109
Median Rent
$1,122,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in West region
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Frequently Asked Questions
What type of property is this?
Shopping center - Divisible retail suites at a prominent corner retail destination with 24-hour security at Paseo Nuevo Mall.
Where is this shopping center located?
The property is located at 817 State St Santa Barbara, CA.
What are key features of this property?
This property features: Prominent divisible retail site at Paseo Nuevo Mall; Prominent corner location at a retail destination; 24‑hour security
