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    3433-3463 State St Santa Barbara, CA 93105

    Sponsored
    For Sale
    Contact for pricing

    Prime Santa Barbara retail, high NOI, value-add.

    Property size:
    42,777 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional Santa Barbara retail portfolio comprises two buildings totaling 42,777 square feet on a 2.83-acre lot. Located at 3433-3463 State St, Santa Barbara, CA 93105, this fee-simple property boasts a 100% occupancy rate with 20 tenants, including US Bank, State Farm, and Farmers Insurance, under NNN leases. The portfolio features a strong Net Operating Income (NOI) of $1,260,477, with significant value-add potential due to below-market rents averaging $2.48/SF/NNN. Built in 1962 and renovated in 2023, the property benefits from its prime location in the heart of Santa Barbara's Upper State Street, a thriving retail corridor near major retailers like Whole Foods and Target. The property is zoned C-P/S-D-2 and consists of 22 units across two buildings. The APNs are 051-061-013, 051-061-014, 051-061-015, 051-061-016, 051-061-017, 051-061-021, 051-063-012, and 051-063-013. This investment presents a rare opportunity to acquire a well-positioned, multi-tenant retail portfolio with substantial upside potential for increased NOI. The property's strong tenant base and prime location make it an attractive investment for long-term growth.

    Property Features for 3433-3463 State St

    General Information

    Property type
    Lifestyle centers
    Square Feet
    42,777 SF
    Lot Size
    123,275 SF

    Building Details

    Year Built/Renovated
    1962/2023
    Buildings
    2
    Units
    22

    HighLights

    • Rare value‑add, multi‑tenant retail portfolio in Santa Barbara, CA.
    • Projected NOI increase of $414,767 (32%) over 10 years.
    • In‑place rents average $2.48/SF/NNN, significantly below market.
    • Prime location at the intersection of State & Broadmoor Plaza in Upper State Street Village.
    • Located on Santa Barbara's primary retail thoroughfare, State Street.
    Property Profile Location Intelligence

    Current Use by Public Records

    Lifestyle centers

    Suggested Use

    Law Firm Realty agency Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    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
    -119.73780492
    Latitude
    34.44035254

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    FAQs

    What type of property is this?
    Lifestyle center - Prime Santa Barbara retail, high NOI, value-add.
    Where is this lifestyle center located?
    The property is located at 3433-3463 State St Santa Barbara, CA.
    What are key features of this property?
    This property features: Rare value-add, multi-tenant retail portfolio in Santa Barbara, CA.; Projected NOI increase of $414,767 (32%) over 10 years.; In-place rents average $2.48/SF/NNN, significantly below market.
    Request Owner's contact information
    3433-3463 State St Santa Barbara, CA 93105
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    Realmo Value Estimation

    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.

    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.

    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
    3433-3463 State St Santa Barbara, CA 93105
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