3433-3463 State St Santa Barbara, CA 93105

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.