1029 State St Santa Barbara, CA 93101

This iconic Santa Barbara property offers a unique investment opportunity, combining a thriving restaurant and office space. The 6,764 square foot building boasts a fully renovated, 2,508 square foot restaurant leased to L’Antica Pizzeria Da Michele until June 30, 2032, featuring an authentic pizza oven and indoor/outdoor dining. The 4,256 square foot office space, available February 1, 2024, includes open and private offices, a kitchenette, conference room, and a second-floor balcony with natural light and State Street views. Located at 1029 State Street, this two-story building is steps from the Granada Theatre and County Courthouse, and a short drive to the beach, Funk Zone, Cottage Hospital, and the harbor. The property includes a fully equipped commercial kitchen, four restrooms, and fire sprinklers throughout. Public parking is available nearby with 75 minutes free. The asking price is $4,865,000, representing a pro-forma cap rate of 5%. The land size is 5,663 square feet, and the APN is 039-281-012. This prime location and established tenant make this a compelling investment for both owner-users and investors.