331 Milpas St Santa Barbara, CA 93103-3294
This exceptional newly renovated office space, located on the second floor of a free-standing building in the heart of the Milpas Corridor, offers two available suites ranging from 606 to 1,817 contiguous square feet. Ideally situated across from CVS and a block from Trader Joe's, this location provides excellent visibility and accessibility. The suites are perfect for traditional office use or second-floor retail tenants such as yoga studios, pilates studios, or dance studios. Each suite boasts an abundance of natural light with stunning Riviera views. Recent renovations include all new finishes and fixtures, enhancing the modern and professional atmosphere. Tenants will enjoy a shared common kitchenette/lounge area, providing a convenient space for collaboration and relaxation. Ample on-site parking is available, with an approximate ratio of 2 spaces per 1,000 square feet. The building features two shared restrooms on the second floor. The property is zoned GC and includes HVAC. Lease terms range from 2 to 5 years, with a special introductory rate of $0.99 per square foot NNN (.60) for the first six months of leases three years or longer, increasing to $1.75 per square foot NNN (.60) thereafter. A 3% commission is offered to cooperating brokers. Contact us today to schedule a viewing.
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Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2024Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Property description
Physical attributes from public recordsZoning & alternative use
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.