First-Floor Medical Office
For Sale
$400,000
821 E Chapel St Unit 102, Santa Maria, CA 93454
Configured for medical office use with exam rooms, patient reception, and direct parking-lot entry.
Property Size1,306 SF
Price / SF$306.28
Days on Market42
Property Features for 821 E Chapel St Unit 102
General Information
Standard status
Active
Size
1,306 SF
Additional Details
Floor
First Floor
Building Details
Tenancy
Multi
Listing Agency:
McCarty Davis, Inc.
(805) 543-1801
Listed By:
Steve Davis · License #01843738
Source:
Myfabuloushome
Added: Jul 20
Changed: Aug 30
Last Checked: Aug 30 at 6:49AM
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 McCarty Davis, Inc.
Investment Insights
Based on property information with market context.
Suite 102 is a first-floor medical office space within a multi-tenant medical building. The layout includes several exam rooms, two restrooms, a reception area, and a waiting room, providing a practical arrangement for patient-facing operations.
Direct entry from the parking lot supports convenient access for patients and staff. The property is located at 821 E Chapel St in Santa Maria, California.
Direct entry from the parking lot supports convenient access for patients and staff. The property is located at 821 E Chapel St in Santa Maria, California.
Key Highlights
- First‑floor position in a multi‑tenant medical building
- Several exam rooms for patient care operations
- Two restrooms within the suite
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
$22,239
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
5.56%
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%
$444,780
$444.8K
Cap Rate 7%
$317,700
$317.7K
Cap Rate 9%
$247,100
$247.1K
Market Conditions
NOI Build-Up for 1,306 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
$34.5K $26.40/SF
− Vacancy
−$4.8K −$3.70/SF
EGI
$29.7K $22.70/SF
− OpEx
−$7.4K −$5.68/SF
NOI
$22.2K $17.03/SF
Area
Santa Maria, CA
Vacancy
14.00%
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%
$444,780
Cap Rate 7%
$317,700
Cap Rate 9%
$247,100
Alternative Uses
Best Use
Office B
$317.7K
$278.0K – $370.7K
NOI $22,239 @ 7.0% cap · market cap 5.56%
Second Best
Healthcare Medical
$302.2K
$264.5K – $352.6K
NOI $21,157 @ 7.0% cap · market cap 5.29%
Theoretical Best
Office A
$441.3K
$386.2K – $514.9K
NOI $30,893 @ 7.0% cap · market cap 7.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,461
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 93454, CA
40,994
Population
12,413
Households
3.3
Avg Household Size
33
Median Age
18%
College-Educated
74%
High-School Grad
418.3 sq mi
ZIP Area
98
Density / Sq Mi
$84,178
Median Household Income
$34,883
Median Earnings
$1,750
Median Rent
$477,600
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Tami Waterman, DVM — Santa Maria, CA 93454
Frequently Asked Questions
What type of property is this?
Medical Office Space - Configured for medical office use with exam rooms, patient reception, and direct parking-lot entry.
Where is this medical office space located?
The property is located at 821 E Chapel St Unit 102 Santa Maria, CA.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: First‑floor position in a multi‑tenant medical building; Several exam rooms for patient care operations; Two restrooms within the suite
