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Property profile & analytics
OFF-MARKET
Estimated value
$2,700,000
Hotels
1281 Channel Dr, Santa Barbara, CA 93108-2856
Entity Owned
2-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-2079884
Property profile
Verified
Property type
Hotels
Use group
HOTEL
Total area
12,387 SF
Lot
3.26 ac (142,005 SF)
APN
009-353-015
UPID
US09-2079884
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
-
Coral Casino Beach & Cabana Club Nightclub Music Venue
-
Coral Cafe and Bar Cafe & Coffee Shop
-
Tydes Restaurant Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.70M
Owner & transaction history
Coral Casino LLC · 2 yrs held
Coral Casino LLC
since 2024
5 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
$218 / SF
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
$309,759
Tax year 2024
Assessed value
$21,999,744
Assessed 2024
Previous assessed
$21,999,744
+0.0% YoY
Effective rate
1.41%
On assessed value
Assessed land
$6,404,128
Assessed improvement
$15,595,616
Applied tax rate
78.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
Hotels
Use group
HOTEL
Status
Off-Market
Heating
NONE
Total area
12,387 SF
Lot
3.26 ac (142,005 SF)
APN
009-353-015
UPID
US09-2079884
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
3.26 ac
Current owner
From public records · entity-resolved
Coral Casino LLC
Entity
Mailing address
280 CHESTNUT AVE, WESTMONT, IL 60559-1139
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 5, 2024
—
Coral Casino LLC
1260 Bb Property LLC
Grant Deed
—
Mar 6, 2019
—
1260 Bb Property LLC
—
Grant Deed
related
$150,000,000 · Bank Of America
Jun 18, 2010
—
1260 Bb Property LLC
—
Deed Of Trust
related
$425,000,000 · Bank Of America NA 2005-lux
May 11, 2000
—
Hotel Equity Fund 11 LP
Channel Drive LLC
Grant Deed
related
—
Nov 9, 1995
—
Channel Drive LLC
Santa Barbara Biltmore Assoc
Grant Deed
$27,500,000 · Credit Lyonnais Cayman Island
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.
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