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Property profile & analytics
OFF-MARKET
Estimated value
$7,900,000
Strip malls
3917 State St Santa Barbara, CA 93105
Individually Owned
2-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-1511688
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Total area
23,520 SF
Lot
0.96 ac (41,817 SF)
APN
051-021-005
UPID
US09-1511688
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$7.90M
CAP Approach
CAP
$5.67M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$7.90M
Owner & transaction history
Richard G Doolittle · 2 yrs held
Richard G Doolittle
since 2024
Last sale
$7.9M
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
$7,900,000
ML approach
$7,900,000
CAP Approach
CAP Return
Estimation
6%
$6,140,000
6.5%
$5,670,000
7%
$5,265,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$5,815,000
Change: 0% · Conversion: Easy
AUTO REPAIR, GARAGE
$5,575,000
Change: 0% · Conversion: Difficult
OFFICE BUILDING
$5,085,000
Change: 0% · Conversion: Moderate
Blend value · Realmo final
$7.90M
Range $7.11M – $8.69M · ±10% · vs last sale $7.90M (Feb 14 2024)
Last sale anchor
$7.90M
Feb 14 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
$336 / 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
$84,720
Tax year 2024
Assessed value
$7,900,000
Assessed 2024
Previous assessed
$7,900,000
+0.0% YoY
Effective rate
1.07%
On assessed value
Assessed land
$5,000,000
Assessed improvement
$2,900,000
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Heating
NONE
Bathrooms
6
Total area
23,520 SF
Lot
0.96 ac (41,817 SF)
APN
051-021-005
UPID
US09-1511688
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
COMMERCIAL (GENERAL)
Est. value
$5.8M
AUTO REPAIR, GARAGE
Est. value
$5.6M
OFFICE BUILDING
Est. value
$5.1M
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
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
Heating
NONE
Bathrooms
6
Lot
0.96 ac
Current owner
From public records · entity-resolved
Richard G Doolittle
Individual
Mailing address
1881 N REFUGIO RD, SANTA YNEZ, CA 93460-9707
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
14 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 14, 2024
—
Richard G Doolittle
Richard G Doolittle
Intrafamily Transfer
related
—
Feb 13, 2024
—
Richard G Doolittle
Richard Doolittle
Intrafamily Transfer
related
—
Jul 28, 2023
$7,900,000
Richard Doolittle
3909 3917 State Street LLC
Grant Deed
$3,500,000 · Montecito Bank & Trust
Jun 29, 2017
—
3909-3917 State Street LLC
—
Deed
related
$4,400,000 · First Republic Bank
Jun 8, 2007
—
3909-3917 State Street LLC
Spi La Cumbre LP
Grant Deed
$4,400,000 · Morgan Stanley Mortgage Capital INC
Nov 16, 2004
$8,750,000
Spi La Cumbre
Levy,william J
Grant Deed
—
Dec 12, 2000
—
William J Levy
L M E Investment Co
Grant Deed
$5,500,000 · Seller
—
—
L M E Investment Co
—
Deed Of Trust
related
$505,000 · Newburg Trust
—
—
L M E Investment Co
—
Deed Of Trust
related
$275,000 · Calloan Corp
—
—
L M E Investment Co
—
Deed Of Trust
related
$700,000 · Mortgage Funding Services
—
—
William J Levy
—
Deed Of Trust
related
$4,500,000 · United Commercial Bank
—
—
William J Levy
—
Deed Of Trust
related
$1,017,500 · Mortgage Funding INC
—
—
L M E Investment Co
—
Deed Of Trust
related
$3,500,000 · Santa Barbara Bank & Trust
—
—
L M E Investments Co
—
Deed Of Trust
related
$350,000 · Individual
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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