38 Victoria St Santa Barbara, CA 93101
- Office Properties & Spaces
- 0.34 lot acres
Current Use by Public Records
- Wexler’s Deli / Deli
- Little Bird Kitchen / Restaurant
- Empty Bowl Gourmet Noodle Bar / Thai Restaurant
- Corazon Cocina / Mexican Restaurant
- Santa Barbara Public Market / Restaurant / Food Court
Property Details for 38 Victoria St
- Lot size
- 0.34 lot acres
- Property type
- Office Properties & Spaces
- APN
- 039-610-014
- APU
- 39610014
Description
This exceptional 183-square-foot restaurant space is available for lease within the Santa Barbara Public Market, a vibrant 19,867-square-foot food hall in the desirable Alma del Pueblo complex. Located in downtown Santa Barbara, this unique opportunity offers high visibility with nearly 65 feet of frontage along Victoria Street and two double-door entrances. The open floor plan fosters a collaborative atmosphere and maximizes foot traffic, benefiting from its location steps from the State Street corridor's shops and restaurants. The property boasts 42 common, covered parking spaces below the building with elevator access, supplemented by ample street parking and nearby city lots. The space is ideal for a restaurant operator seeking a high-traffic location near popular attractions such as the Granada, Arlington, and New Vic theaters, the SB Museum of Art, and the Santa Barbara County Courthouse. A short drive connects the property to the beach, Funk Zone, the harbor, and Santa Barbara City College. The lease terms are for 3-5 years, with a minimum base rent of $3,500 per month, plus 10% percentage rent on gross sales exceeding the minimum. Estimated monthly NNNs are $2,000, and utilities are approximately $200 per month. Space 105 (does not include a hood). The property's APN is 039-610-014, and it's conveniently located near Chapala Street.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $6,960,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $7,770,000
- 6.5%
- $7,825,000
- 7%
- $7,430,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $7,195,000
- Geo Method
- $6,430,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $6,605,000
- Retail
- $6,805,000
- Mixed-Use
- $8,360,000
- Hospitality
- $7,545,000
- Educational
- $8,215,000
- Residential Income
- $6,435,000
- Energy
- $8,350,000
- Income-Based Land
- $7,115,000
- Food Service
- $8,850,000
Location Insight
- Map
- Local Demand
- City
- Santa Barbara
- County
- Santa Barbara
- State
- California
- Longitude
- -119.707
- Latitude
- 34.4236
- CBSA code
- 42200
- CBSA name
- SANTA MARIA-SANTA BARBARA, CA METROPOLITAN STATISTICAL AREA