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Property profile & analytics
OFF-MARKET
Estimated value
$2,475,000
Turn key restaurants
628 State St Santa Barbara, CA 93101-3302
Individually Owned
4-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US10-3018690
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Lot
0.16 ac (6,969 SF)
APN
037-132-026
UPID
US10-3018690
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
-
The Habit Burger Grill Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.33M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.48M
Owner & transaction history
Michael P Macelhenny · 4 yrs held
Michael P Macelhenny
since 2021
Last sale
$2.6M
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
$2,365,000
ML approach
$2,330,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$2.48M
Range $2.23M – $2.72M · ±10% · vs last sale $2.60M (Aug 30 2021)
Last sale anchor
$2.60M
Aug 30 2021
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
—
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
$30,338
Tax year 2024
Assessed value
$2,705,040
Assessed 2024
Previous assessed
$2,705,040
+0.0% YoY
Effective rate
1.12%
On assessed value
Assessed land
$2,080,800
Assessed improvement
$624,240
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Heating
NONE
Lot
0.16 ac (6,969 SF)
APN
037-132-026
UPID
US10-3018690
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
0.16 ac
Current owner
From public records · entity-resolved
Michael P Macelhenny
Individual
Mailing address
18516 MARBLEHEAD WAY, TARZANA, CA 91356-5726
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2021
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
Aug 30, 2021
—
Michael P Macelhenny
628 Ss 2013 LLC
Grant Deed
—
Aug 30, 2021
$2,600,000
Rodica Grasu
Michael P Macelhenny
Grant Deed
$1,300,000 · Montecito Bank & Trust
Jul 10, 2013
—
Bernard J Macelhenny JR.
Macelhenny 1999 Trust
Quit Claim Deed
related
—
Feb 11, 2011
—
Dann Catherine K Trust
Macelhenny,bernard J
Grant Deed
related
—
Mar 28, 2003
—
Steve Velliotes
Velliotes,tuyen T
Quit Claim Deed
related
—
Mar 28, 2003
$80,000
Bernard J Mac Elhenny
Velliotes,steve
Grant Deed
—
Nov 25, 2002
—
S Velliotes
Velliotes,tr
Quit Claim Deed
related
—
Jun 1, 2001
$150,000
Bernard J Macelhenny
Velliotes,peter
Grant Deed
—
Jan 28, 2000
—
Velliotes Trust
Velliotes,george
Quit Claim Deed
related
—
Mar 12, 1996
—
Bernard J Macelhenny
Macelhenny,carole E
Quit Claim Deed
related
—
Mar 7, 1996
—
Bernard J Macelhenny
—
Grant Deed
related
$195,000 · Ventura County National Bank
—
—
628 Ss 2013 LLC
—
Deed Of Trust
related
$1,400,000 · Rabobank
—
—
Bernard J Macelhenny
—
Deed Of Trust
related
$500,000 · Mid-state Bank & Trust Co
—
—
Bernard J Macelhenny
—
Deed Of Trust
related
$1,562,054 · Rabobank
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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