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Property profile & analytics
FOR LEASE
Motels
1616 Chapala St, Santa Barbara, CA 93101
Entity Owned
2-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US10-3020526
For Lease
1 / 2
$4 SF/Yr
1616 Chapala St, Santa Barbara, CA 93101
View Listing →
Property profile
Verified
Property type
Motels
Use group
MOTEL
Year built
1978
Total area
3,656 SF
Lot
0.17 ac (7,405 SF)
APN
027-181-016
UPID
US10-3020526
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
-
Lorena Artistry Hair Salon
-
Lavender Studio Spa & Massage Center
-
Beauty of SB - Noraaliciasbrows Hair Salon Nail Salon
-
Acupuncture Santa Barbara Medical Clinic
-
The Axxess Card Marketing & Advertising Advertising Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.02M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.59M
Blend (final)
Blend
$2.71M
Owner & transaction history
1616 Chapala Street LLC · 2 yrs held
1616 Chapala Street LLC
since 2023
Last sale
$2.5M
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
$3,050,000
ML approach
$3,015,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
HOTEL/MOTEL
$4,105,000
Current use
OFFICE BUILDING
$3,785,000
Change: -8% · Conversion: Difficult
Blend value · Realmo final
$2.71M
Range $2.44M – $2.98M · ±10% · vs last sale $2.45M (Sep 29 2023)
Last sale anchor
$2.45M
Sep 29 2023
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
$741 / 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
$25,962
Tax year 2024
Assessed value
$2,450,000
Assessed 2024
Previous assessed
$2,450,000
+0.0% YoY
Effective rate
1.06%
On assessed value
Assessed land
$1,100,000
Assessed improvement
$1,350,000
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
Motels
Use group
MOTEL
Status
For Lease
Year built
1978
Heating
NONE
Total area
3,656 SF
Lot
0.17 ac (7,405 SF)
APN
027-181-016
UPID
US10-3020526
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
Alternative use value scenarios
Repositioning upside vs current use
HOTEL/MOTEL Current
Est. value
$4.1M
OFFICE BUILDING
Est. value
$3.8M
HOTEL/MOTEL Current
OFFICE BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1978
Heating
NONE
Lot
0.17 ac
Current owner
From public records · entity-resolved
1616 Chapala Street LLC
Entity
Mailing address
219 EQUESTRIAN AVE, SANTA BARBARA, CA 93101-2013
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 29, 2023
$2,450,000
1616 Chapala Street LLC
Devsi Properties LLC
Grant Deed
—
Jan 4, 2016
$1,900,000
Devsi Properties LLC
Clarice Cornell Clarke
Grant Deed
$1,140,000 · Jpmorgan Chase Bank NA
May 14, 2007
—
Clarke Clarice C 2007 Trust
Cornell,clarice E
Quit Claim Deed
related
—
May 16, 2005
$1,775,000
Clarice E Cornell
Kuehnle E F & B B Trust B
Grant Deed
$1,219,000 · Qualified Exchange Svcs INC
Jul 20, 2004
—
Kuehnle,tr
Kuehnle,tr
Quit Claim Deed
related
$300,000 · Santa Barbara Bank & Trust
Sep 1, 1999
—
Kuehnle Trust
Kuehnle Trust
Quit Claim Deed
related
—
Dec 9, 1998
—
Kuehnle Eugene
Kuehnle,eugene & Bernardine
Quit Claim Deed
related
—
—
—
Clarice E C Clarke
—
Deed Of Trust
related
$1,169,000 · Bayview Loan Servicing LLC
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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