3433-3463 State St Santa Barbara, CA 93105
- Lifestyle centers
- 42,777 SF
- 2.83 lot acres
Current Use by Public Records
- Lifestyle centers
Property Details for 3433-3463 State St
- Year built
- 1962
- Lot size
- 2.83 lot acres
- Property size
- 42,777 SF
- 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 Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Santa Barbara
- County
- Santa Barbara
- State
- California
- Longitude
- -119.738
- Latitude
- 34.4404
