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Property profile & analytics
OFF-MARKET
Estimated value
$505,000
Motels
821 State St, Santa Barbara, CA 93101-3206
Entity Owned
3-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-1461012
Property profile
Verified
Property type
Motels
Use group
MOTEL
Lot
0.15 ac (6,534 SF)
APN
037-400-009
UPID
US09-1461012
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
-
New Covenant Worship Center Church
-
Partys Bus Santa Barbara Travel Agency Tour Operator
-
ABC Rental Rental Travel Agency Tour Operator
-
Santa Barbara Makeup Bar Cosmetic Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$505k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$505k
Owner & transaction history
2nd Story 821 State LLC · 3 yrs held
2nd Story 821 State LLC
since 2022
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
by Request
ML approach
$505,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$505k
Range $455k – $556k · ±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
—
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
$57,184
Tax year 2024
Assessed value
$5,159,000
Assessed 2024
Previous assessed
$5,159,000
+0.0% YoY
Effective rate
1.11%
On assessed value
Assessed land
$1,224,000
Assessed improvement
$3,935,000
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
Motels
Use group
MOTEL
Status
Off-Market
Heating
NONE
Lot
0.15 ac (6,534 SF)
APN
037-400-009
UPID
US09-1461012
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
0.15 ac
Current owner
From public records · entity-resolved
2nd Story 821 State LLC
Entity
Mailing address
808 LAGUNA ST, SANTA BARBARA, CA 93101-1510
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2022
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
Jun 1, 2023
—
2nd Story 821 State LLC
—
Deed
related
$2,250,000 · Montecito Bank & Trust
Apr 12, 2023
—
2nd Story 821 State LLC
—
Deed
related
$500,000 · Housing Authority Of The City Of Sant
Dec 13, 2022
—
2nd Story 821 State LLC
821 State LLC
Grant Deed
—
May 7, 2021
$4,575,000
821 State LLC
Douglas S Pilkington
Grant Deed
—
Apr 8, 2021
—
Douglas S Pilkington
Pilkington Properties
Grant Deed
—
Dec 28, 2012
—
Properties Pilkington
Pilkington Family Trust
Quit Claim Deed
related
—
Jun 8, 2012
—
Pilkington Family Trust
Pilkington,douglas S
Quit Claim Deed
related
—
May 14, 2010
—
Hardy Family Trust
Hardy,debra S
Quit Claim Deed
related
—
Feb 26, 2010
—
Pilkington Family Trust A
Pilkington LP
Quit Claim Deed
—
Sep 18, 2003
—
LP Pilkington
—
Trustees Deed
related
$1,400,000 · Montecito Bank & Trust
Sep 8, 1999
—
Debra Hardy
Pilkington,betty
Grant Deed
related
—
Feb 25, 1999
—
Betty Pilkington
Pilkington,fam Tr
Quit Claim Deed
related
—
Jun 21, 1994
—
Pilkington,fam Tr
Pilkington,betty
Quit Claim Deed
related
—
—
—
Properties Pilkington
—
Deed Of Trust
related
$1,415,000 · 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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