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Property profile & analytics
OFF-MARKET
Estimated value
$2,145,000
Office buildings
820 Montecito St, Santa Barbara, CA 93103-3221
Individually Owned
3-yr Hold
Absentee Owner
Free & Clear
Property ID
US10-3224597
Property summary
AI-generated overview
This exceptional 1,200 square foot office space, located at 820 E Montecito St, Santa Barbara, CA 93103, presents a versatile opportunity for a variety of businesses. Situated on the second floor and easily accessible via elevator, this single-tenant space boasts a wide-open floor plan ideal for customization. The unit includes a private patio, perfect for breaks or informal meetings, along with a convenient bathroom featuring a shower and a kitchenette for added convenience. The property is zoned M-I and features APN 017-042-005. Two dedicated parking spaces are included within a secure, gated parking lot, offering peace of mind and easy access. Adding to its appeal, on-site laundry facilities are available for tenant use. The building is located in the desirable Milpas corridor, known for its amenities and convenient location near N Milpas St. This property is perfect for creative professionals, small businesses, or anyone seeking a well-appointed and functional workspace in a vibrant Santa Barbara neighborhood. The property is a traditional office space.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1920
Total area
888 SF
Lot
0.13 ac (5,662 SF)
APN
017-042-005
UPID
US10-3224597
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
$2.62M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.15M
Owner & transaction history
Christine M Mclaughlin · 3 yrs held
Christine M Mclaughlin
since 2023
Last sale
$2.1M
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
$2,615,000
ML approach
$2,620,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$2.15M
Range $1.93M – $2.36M · ±10% · vs last sale $2.10M (Feb 21 2023)
Last sale anchor
$2.10M
Feb 21 2023
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
$2,416 / 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
$22,723
Tax year 2024
Assessed value
$2,142,000
Assessed 2024
Previous assessed
$2,142,000
+0.0% YoY
Effective rate
1.06%
On assessed value
Assessed land
$1,213,800
Assessed improvement
$928,200
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
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
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Status
Off-Market
Year built
1920
Heating
NONE
Rooms
6
Bathrooms
1
Total area
888 SF
Lot
0.13 ac (5,662 SF)
APN
017-042-005
UPID
US10-3224597
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
Year built
1920
Heating
NONE
Rooms
6
Bathrooms
1
Lot
0.13 ac
Current owner
From public records · entity-resolved
Christine M Mclaughlin
Individual
Free & Clear · 3 yrs held
Mailing address
1056 MONUMENT ST, PACIFIC PALISADES, CA 90272-2538
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 21, 2023
$2,100,000
Christine M Mclaughlin
Simon Raab Real Estate Holdings LLC
Grant Deed
—
Dec 21, 2004
$1,490,000
Raab Real Estate Holding Simon
Innovation Distributing
Grant Deed
—
Mar 7, 2003
—
Innovation Distributing
—
Trustees Deed
related
$1,020,000 · Santa Barbara Bank & Trust
Mar 6, 2002
—
Innovation Distributing
Heinsohn,eric J
Grant Deed
$304,000 · Santa Barbara Bank & Trust
May 31, 2000
—
Heinsohn,eric J
Mary Hernandez Estate
Trustees Deed
related
—
May 30, 2000
—
Keith S Nolan
Nolan,nancy
Quit Claim Deed
related
$245,000 · Mid State Bank
—
—
Innovation Distributing
—
Deed Of Trust
related
$48,500 · 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.
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