Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    3887 State St Santa Barbara, CA 93105-3125

    • Commercial land
    • 8,856 SF
    • 1.16 lot acres
    OFF-MARKET
    Value Estimations
    $2,795,000
    Show details
    Cap Rate Potential
    9.5%
    Commercial land
    Location Intelligence
    Property ID
    US09-2385993
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Alternative Digital Printing / Corporate Office / Business Park
    • Anthem Blue Cross / Insurance Agency
    • Santa Barbara Insurance Broker / Insurance Agency
    • Affordable Office Support / Law Firm
    • Erin Graffy Associates / Marketing & Advertising / Advertising Agency

    Property Details for 3887 State St

    Lot size
    1.16 lot acres
    Property size
    8,856 SF
    Property type
    Commercial land
    APN
    051-022-033
    APU
    51022033

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $3,532,000
      Market price range: $431k - $3.53M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $3,825,000
      Current use
      RETAIL STORES
      $4,135,000
      Change: +8% Conversion: Easy
      INDUSTRIAL (GENERAL)
      $3,485,000
      Change: -9% Conversion: Moderate

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Santa Barbara
    County
    Santa Barbara
    State
    California
    Longitude
    -119.75
    Latitude
    34.4397
    CBSA code
    42200
    CBSA name
    SANTA MARIA-SANTA BARBARA, CA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2015
    $63,006
    $6,017,882
    $0.00
    $6,017,882
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $555,000
      3.32 Acres

      540 Pueblo St

      VACANT COMMERCIAL LAND • 3.32 Acres
      540 Pueblo St, Santa Barbara, CA 93105-4230
      View Details
    • Value Estimation
      $4,920,000
      0.15 Acres

      Santa Barbara, CA 93105

      VACANT COMMERCIAL LAND • 0.15 Acres
      Santa Barbara, CA 93105
      View Details
    • Value Estimation by Request
      0.27 Acres

      Santa Barbara, CA 93105

      VACANT COMMERCIAL LAND • 0.27 Acres
      Santa Barbara, CA 93105
      View Details
    • Value Estimation
      $2,420,000
      0.61 Acres

      100 La Cumbre Rd

      VACANT COMMERCIAL LAND • 26,136 SF
      100 La Cumbre Rd, Santa Barbara, CA 93105
      View Details
    • Value Estimation by Request
      0.60 Acres

      2317 Oak Park Ln

      VACANT COMMERCIAL LAND • 768 SF
      2317 Oak Park Ln, Santa Barbara, CA 93105-4222
      View Details
    • Value Estimation by Request
      0.18 Acres

      3714 State St, Unit C1

      VACANT COMMERCIAL LAND • 0.18 Acres
      3714 State St, Santa Barbara, CA 93105-3104
      View Details

    Similar Nearby for Sale

    • $389,000
      0.85 Acres

      Santa Barbara Land Opportunity

      Land in Santa Barbara, create your dream retreat!
      290-292 Rosario Park Rd, Santa Barbara, CA 93105
      View Details
    • Contact for pricing
      1,530 SF

      Established Restaurant Location For Lease

      High-visibility restaurant space with patio on signalized corner.
      2000 De La Vina St, Santa Barbara, CA 93105
      View Details
    • $3,495,000

      Two-Story Medical Office Building

      Two-story medical office with apartments near Cottage Hospital.
      517 W Junipero St, Santa Barbara, CA 93105
      View Details
    • $3,950,000
      3,714 SF

      Santa Barbara Medical Office Building

      Prime Medical Office w/ Apartments
      517 Junipero St, Santa Barbara, CA 93105
      View Details
    • Contact for pricing
      42,777 SF

      Santa Barbara Retail Portfolio

      Prime Santa Barbara retail, high NOI, value-add.
      3433-3463 State St, Santa Barbara, CA 93105
      View Details
    • $2,775,000
      3,400 SF

      Updated Santa Barbara Multifamily Home

      Flexible multifamily property with income potential in Santa Barbara, CA.
      2937 Glen Albyn Dr, Santa Barbara, CA 93105
      View Details

    Similar Nearby for Lease

    • $17 SF/Yr
      5,214 SF

      State Street Office Suites Available

      Santa Barbara Office Space: 808-1819 SF
      3944 State St, Santa Barbara, CA 93105
      View Details
    • Contact for pricing
      1,990 SF

      Renovated Retail Center Near Highway

      Regional shopping center with immediate highway access and high income population.
      3943 State St, Santa Barbara, CA 93105
      View Details
    • Contact for pricing

      Leased Office Building in Santa Barbara

      Fully leased office building in Santa Barbara, California.
      2323 Oak Park Ln, Santa Barbara, CA 93105
      View Details
    • Contact for pricing
      1,863 SF

      Retail Space Available For Rent

      In-line retail space available for rent.
      3967-3985 State St, Santa Barbara, CA 93105
      View Details
    • Contact for pricing

      Fully Leased Retail Center

      Shopping center in Santa Barbara, CA, currently 100% leased.
      3601-3631 State St, Santa Barbara, CA 93105
      View Details
    • Contact for pricing
      890 SF

      Retail Space Near La Cumbre

      Retail spaces available near La Cumbre Plaza and US-101.
      3987-3993 State St, Santa Barbara, CA 93105
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    3887 State St
    Santa Barbara, CA 93105-3125
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!