Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    3433-3463 State St Santa Barbara, CA 93105
    Back to Search
    Property profile & analytics

    3433-3463 State St, Santa Barbara, CA 93105

    View on Map
    • Lifestyle centers
    • 42,777 SF
    • 2.83 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Lifestyle centers

    Property Details for 3433-3463 State St

    Year built
    1962
    Lot size
    2.83 lot acres
    Property type
    Lifestyle centers
    Property subtype
    Power centers

    Description

    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.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Santa Barbara
    County
    Santa Barbara
    State
    California
    Longitude
    -119.738
    Latitude
    34.4404

    Comparable in this City

    • Value Estimation
      $625,000
      0.92 Acres

      2830 De La Vina St

      SHOPPING CENTER, STRIP CENTER
      2830 De La Vina St, Santa Barbara, CA 93105-3457
      View Details
    • Value Estimation
      $7,900,000
      23,520 SF

      3917 State St

      SHOPPING CENTER, STRIP CENTER
      3917 State St, Santa Barbara, CA 93105
      View Details
    • Value Estimation by Request
      4.94 Acres

      3303 State St

      SHOPPING CENTER, STRIP CENTER
      3303 State St, Santa Barbara, CA 93105-2603
      View Details
    • Value Estimation
      $760,000
      0.43 Acres

      3939 State St

      SHOPPING CENTER, STRIP CENTER
      3939 State St, Santa Barbara, CA 93105-3113
      View Details
    • Value Estimation
      $510,000
      4.13 Acres

      3311 Mccaw Ave

      SHOPPING CENTER, STRIP CENTER
      3311 Mccaw Ave, Santa Barbara, CA 93105
      View Details
    • Value Estimation
      $935,000
      10.48 Acres

      3943 State St

      SHOPPING CENTER, STRIP CENTER
      3943 State St, Santa Barbara, CA 93105-3113
      View Details

    Similar Nearby for Sale

    • $6,750,000
      10,650 SF

      Santa Barbara Multi-Tenant Investment Opportunity

      Multi-tenant investment opportunity in Santa Barbara's San Roque neighborhood.
      3609 State St, Santa Barbara, CA 93105
      View Details
    • $6,750,000

      Santa Barbara Multi-Tenant Investment Opportunity

      Multi-tenant investment opportunity in Santa Barbara's San Roque neighborhood.
      3609 State St, Santa Barbara, CA 93105
      View Details
    • Contact for pricing
      1,530 SF

      Established Restaurant Location For Lease

      High-visibility restaurant space with patio on signalized corner.
      2000 De La Vina St, Santa Barbara, CA 93105
      View Details
    • Contact for pricing
      1,530 SF

      De La Vina Corner Lot

      Corner lot on De La Vina Street in Santa Barbara.
      2000 De La Vina St, Santa Barbara, CA 93105
      View Details
    • Contact for pricing
      6,935 SF

      Freestanding Auto Service Building

      Freestanding building featuring reception area and open-bay auto service.
      3948 State St, Santa Barbara, CA 93105
      View Details
    • Contact for pricing
      1,728 SF

      Medical Condo in Alamar Center

      Improved medical condo for sale in Santa Barbara, California.
      2780 State St, Santa Barbara, CA 93105
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,990 SF

      Renovated Retail Center Near Highway

      Regional shopping center with immediate highway access and high income population.
      3943 State St, Santa Barbara, CA 93105
      View Details
    • Contact for pricing
      2,040 SF

      Retail Pad Building For Rent

      Freestanding retail building with high visibility, anchored by Whole Foods.
      3771 State St, Santa Barbara, CA 93105
      View Details
    • Contact for pricing
      1,600 SF

      Retail Space Available For Rent

      In-line retail space available for rent.
      3935-3965 State St, Santa Barbara, CA 93105
      View Details
    • Contact for pricing
      890 SF

      Retail Space Near La Cumbre

      Retail spaces available near La Cumbre Plaza and US-101.
      3987-3993 State St, Santa Barbara, CA 93105
      View Details
    • Contact for pricing

      La Cumbre Plaza Retail Space

      100% leased shopping center in Santa Barbara.
      3890 La Cumbre Plaza Ln, Santa Barbara, CA 93105
      View Details
    • Contact for pricing

      Retail Property in Santa Barbara

      Fully leased retail property in Santa Barbara, California.
      2261-2283 Las Positas Rd, Santa Barbara, CA 93105
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    3433-3463 State St
    Santa Barbara, CA 93105
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    3433-3463 State St, Santa Barbara, CA, 93105
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!