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Property profile & analytics
FOR LEASE
Investment properties
4141 State St Santa Barbara, CA 93110
Entity Owned
13-yr Hold
~
Est. High Equity
Property ID
US09-2244923
For Lease
1 / 2
$2,735,000
4141 State St, Santa Barbara, CA 93110
View Listing →
Property profile
Verified
Property type
Investment properties
Use group
STORE/OFFICE (MIXED USE)
Total area
24,050 SF
Lot
1.06 ac (46,173 SF)
APN
061-110-004
UPID
US09-2244923
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
-
Dent-Line Emergency Dental Group Dental Office
-
Pacific Sum Productions Film Production Television Studio
-
The Maley Firm, PC Law Firm
-
Santa Barbara Dentist, Dr. Davis Dental Office
-
Valeska Barnard G DDS Dental Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.62M
Comparable Approach
Comparable
$2.68M
Blend (final)
Blend
$2.74M
Owner & transaction history
El Mercado Delaware LLC · 13 yrs held
El Mercado Delaware LLC
since 2012
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
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$2,835,000
6.5%
$2,620,000
7%
$2,430,000
Blend value · Realmo final
$2.74M
Range $2.46M – $3.01M · ±10%
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
$114 / 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
$50,240
Tax year 2024
Assessed value
$4,346,210
Assessed 2024
Previous assessed
$4,346,210
+0.0% YoY
Effective rate
1.16%
On assessed value
Assessed land
$1,690,193
Assessed improvement
$2,656,017
Applied tax rate
69.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
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
Investment properties
Use group
STORE/OFFICE (MIXED USE)
Status
For Lease
Heating
NONE
Total area
24,050 SF
Lot
1.06 ac (46,173 SF)
APN
061-110-004
UPID
US09-2244923
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
Lot
1.06 ac
Current owner
From public records · entity-resolved
El Mercado Delaware LLC
Entity
Mailing address
PO BOX 30760, SANTA BARBARA, CA 93130-0760
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2012
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
Sep 23, 2021
—
El Mercado Delaware LLC
—
Deed
related
$450,000 · First Republic Bank
Oct 29, 2012
—
El Mercado Delaware LLC
Michael P Macelhenny
Grant Deed
$4,750,000 · Ubs Real Estate Securities INC
Mar 10, 2010
—
Macelhenny 1999 Trust
Macelhenny,bernard J JR
Quit Claim Deed
related
—
Nov 3, 2000
—
Bernard J Macelhenny
—
Deed Of Trust
related
$1,250,000 · Oceanic Bank
May 29, 1998
—
Bernard J Macelhenny
Macelhenny,carole E
Quit Claim Deed
related
—
—
—
Bernard J Macelhenn
—
Deed Of Trust
related
$550,000 · Santa Barbara Bank & Trust
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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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