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Property profile & analytics
FOR LEASE
Office buildings
2020 Alameda Padre Serra, Santa Barbara, CA 93103
Individually Owned
3-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-0561670
For Lease
$22,875,000
2020 Alameda Padre Serra, Santa Barbara, CA 93103
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Total area
27,346 SF
Lot
8.72 ac (379,843 SF)
APN
019-163-004
UPID
US09-0561670
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
-
Judith Lion, MA Marriage Or Relationship Counselor
-
Dr. Margaret November, MD Physician
-
Toad&Co Corporate Office
-
Take 5 Bodywork Construction Company General Contractor
-
Berkus Design Studio Architect
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$22.88M
Owner & transaction history
Riviera Park Alameda Padre Serra Ll · 3 yrs held
Riviera Park Alameda Padre Serra Ll
since 2022
Last sale
$26.8M
6 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
$837 / 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
$325,627
Tax year 2024
Assessed value
$30,600,000
Assessed 2024
Previous assessed
$30,600,000
+0.0% YoY
Effective rate
1.06%
On assessed value
Assessed land
$19,380,000
Assessed improvement
$11,220,000
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
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
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Status
For Lease
Heating
NONE
Bathrooms
2
Total area
27,346 SF
Lot
8.72 ac (379,843 SF)
APN
019-163-004
UPID
US09-0561670
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
Bathrooms
2
Lot
8.72 ac
Current owner
From public records · entity-resolved
Riviera Park Alameda Padre Serra Ll
Individual
Mailing address
521 S SANTA BARBARA ST, SANTA BARBARA, CA 93101-1611
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 22, 2022
$26,825,000
Riviera Park Alameda Padre Serra Ll
Michael Towbes LLC
Grant Deed
—
Aug 24, 2009
—
Michael Towbes LLC
Towbes,michael
Quit Claim Deed
—
Oct 31, 2005
—
Michael Towbes
—
Grant Deed
related
$5,000,000 · Union Bank Of California
Jan 30, 2002
—
Towbes Trust
Towbes,michael
Quit Claim Deed
related
—
Oct 24, 1996
$2,544,500
Michael Towbs
Boehm Trust
Grant Deed
related
—
Dec 31, 1991
$1,020,000
Boehm Ronald J
Boehm,trust
Grant Deed
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
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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