Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$865,000
Retail space
1115 State St Santa Barbara, CA 93101-2712
Entity Owned
28-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-1323750
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Lot
0.66 ac (28,749 SF)
APN
039-231-035
UPID
US09-1323750
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Fuzion Glassware Store Art Gallery
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$865k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$865k
Owner & transaction history
1129 State Street LP · 28 yrs held
1129 State Street LP
since 1998
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Santa Barbara submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Santa Barbara submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
$865,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$865k
Range $779k – $952k · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
—
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$116,048
Tax year 2024
Assessed value
$9,658,237
Assessed 2024
Previous assessed
$9,658,237
+0.0% YoY
Effective rate
1.20%
On assessed value
Assessed land
$4,166,299
Assessed improvement
$5,491,938
Applied tax rate
2.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Heating
NONE
Lot
0.66 ac (28,749 SF)
APN
039-231-035
UPID
US09-1323750
Jurisdiction
SANTA BARBARA
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Heating
NONE
Lot
0.66 ac
Current owner
From public records · entity-resolved
1129 State Street LP
Entity
Mailing address
1231 STATE ST STE B, SANTA BARBARA, CA 93101-8710
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
1998
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
14 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 30, 2010
—
1129 State Street LP
—
Deed Of Trust
related
$16,450,000 · Rabobank
Jun 19, 2008
—
1129 State Street
—
Trustees Deed
related
$18,000,000 · Rabobank
Jun 11, 1998
—
1129 State Street LP
Micheltorena Ltd
Trustees Deed
$10,600,000 · Nomura Asset Capital Corp
Aug 8, 1997
$250,000
1129 State Street
Sb State Street
Grant Deed
—
Feb 6, 1997
—
Micheltorena Ltd
Sb State St Ltd Ptshp
Grant Deed
$10,000,000 · Fremont Investment & Loan
Oct 18, 1996
$32,000
U S Capital Corporation
S B State Street LP
Trustees Deed
related
—
Sep 13, 1996
$32,000
U S Capital Corp
S B State St
Trustees Deed
related
—
Sep 11, 1996
$146,000
Us Capital Corporation
Sb State Street LP
Trustees Deed
related
—
Jun 20, 1996
$1,000,000
Santa Barbara Partners
Uhles Trust
Trustees Deed
—
Jun 20, 1996
—
Uhles Trust
Uhles Trust
Deed Of Trust
related
$2,300,000 · Santa Barbara Bank & Trust
Jun 3, 1993
—
Uhles,trust
—
Deed Of Trust
related
—
—
—
Uhles Trust
—
Deed Of Trust
related
$4,000,000 · Sima Corp
—
—
Uhles,trust
—
Deed Of Trust
related
$313,225 · Individual
—
—
Micheltorena Ltd LP
—
Deed Of Trust
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 1115 State St?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
