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Property profile & analytics
OFF-MARKET
Estimated value
$2,970,000
Retail space
201 Milpas St Santa Barbara, CA 93103-3201
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US09-2280569
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Total area
4,656 SF
Lot
0.45 ac (19,602 SF)
APN
017-043-018
UPID
US09-2280569
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
-
Mercury Insurance Insurance Agency
-
Panaderia Veronica Bakery Specialty Food Shop
-
Tina's Nail Salon Jason Nail Salon
-
Allen Construction | Custom Home Construction and Remodeling Construction Company
-
Geo Solutions Engineer
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.97M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.13M
Blend (final)
Blend
$2.97M
Owner & transaction history
Dennis Allen Associates · 1 yrs held
Dennis Allen Associates
since 2024
Last sale
$3.0M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$4.8M
+121.7%
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
$2,970,000
ML approach
$2,970,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$2,175,000
Current use
OFFICE BUILDING
$4,820,000
Change: +122% · Conversion: Easy
COMMERCIAL (GENERAL)
$2,010,000
Change: -8% · Conversion: Easy
Blend value · Realmo final
$2.97M
Range $2.67M – $3.27M · ±10% · vs last sale $2.97M (Oct 18 2024)
Last sale anchor
$2.97M
Oct 18 2024
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
$638 / 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
$23,727
Tax year 2024
Assessed value
$2,234,106
Assessed 2024
Previous assessed
$2,234,106
+0.0% YoY
Effective rate
1.06%
On assessed value
Assessed land
$1,771,715
Assessed improvement
$462,391
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
Total area
4,656 SF
Lot
0.45 ac (19,602 SF)
APN
017-043-018
UPID
US09-2280569
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
RETAIL STORES Current
Est. value
$2.2M
OFFICE BUILDING
Est. value
$4.8M
COMMERCIAL (GENERAL)
Est. value
$2.0M
RETAIL STORES Current
OFFICE BUILDING
COMMERCIAL (GENERAL)
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
Heating
NONE
Lot
0.45 ac
Current owner
From public records · entity-resolved
Dennis Allen Associates
Entity
Mailing address
201 N MILPAS ST UNIT B, SANTA BARBARA, CA 93103-3201
Mailing matches property
Yes
Owner-occupied
Yes
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
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 25, 2024
—
Dennis Allen Associates
—
Deed
related
$1,217,000 · Cen Cal Business Finance Group
Oct 18, 2024
$2,970,000
Dennis Allen Associates
201 N Milpas LLC
Grant Deed
$1,485,000 · American Riviera Bank
Mar 12, 2024
—
201 N Milpas LLC
—
Deed
related
$950,000 · Montecito Bank & Trust
Dec 2, 2022
$4,227,000
Fhj Business Enterprises LLC
Rhonda Jo Harris
Quitclaim Deed
related
—
Feb 11, 2021
—
Rhonda Jo Harris
Barbara A Fitzgerald
Deed
related
—
Feb 23, 2012
—
201 N Milpas LLC
Allen-cushnie Family Trust
Grant Deed
related
—
Feb 5, 2010
$1,750,000
Dennis W Allen
Lester Wolff
Grant Deed
$875,000 · Community West Bank NA
Mar 8, 2007
—
Wolff Family Trust
Wolff Family Trust
Quit Claim Deed
related
—
—
—
201 N Milpas LLC
—
Deed Of Trust
related
$833,000 · Rabobank
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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