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Property profile & analytics
OFF-MARKET
Turn key restaurants

416 State St Santa Barbara, CA 93101-2305

0.23 ac lot
Trust Owned 21-yr Hold Absentee Owner ~ Est. High Equity
Property ID
US09-2289443
Property summary
AI-generated overview

This exceptional 3,509-square-foot restaurant space is available for lease, ideally situated on the coveted 400 block of State Street in Santa Barbara County. Located next to a highly successful and recently renovated food and beverage establishment (Kim's Service Department, Miramar Group, 2019), this property benefits from significant foot traffic. The building offers a fully built-out interior, ready for immediate occupancy starting November 1, 2022. Tenants can lease the space as-is or customize the layout to meet their specific operational needs. A unique opportunity exists for integration with the adjacent property, particularly concerning the shared rear patio areas; conceptual renderings are available upon request. The historic building boasts high ceilings, a pre-existing bar area, convenient front and rear customer entrances, and limited on-site parking. The property's APN is 037-212-023, and it's zoned for commercial use. This single-tenant space presents a remarkable chance to establish a thriving restaurant business in a vibrant Santa Barbara location. The cross street is Guttierez.

Property profile
Verified
Property type Turn key restaurants
Use group RESTAURANT
Lot 0.23 ac (10,018 SF)
APN 037-212-023
UPID US09-2289443
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
  • DinkDive Gym & Fitness Center Sports Field & Court
  • The Drunken Crab Santa Barbara Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
by Request
Owner & transaction history
Hughes Land Holding Trust · 21 yrs held
Hughes Land Holding Trust
since 2004
6 recorded transactions
2017
Price N/A
2004
Price N/A
1969
Price N/A
1969
Price N/A
1969
Price N/A
1969
Price N/A
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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