for sale 6,300 sfce/retail buildingoffi€¦ · the information provided here has been obained rom...

The information provided here has been obtained from the owner of the property or from other sources deemed reliable. We have no reason to doubt its accuracy, but we do not guarantee it.

2 0 5 E . C a r r i l lo st. s u i tE 1 0 0 | s a nta B a r B a r a C a 93 1 0 1 | 8 0 5 .9 6 5 . 5 5 0 0 | Fa x 8 0 5 .9 6 5 . 5 3 0 0 | r a d i u s gr o u p.Co m

Paul [email protected] Lic. 01267748

Bob [email protected] Lic. 00643325

Gene [email protected] Lic. 01450943

For sale � ±6,300sF oFFice/retail building1 0 19 – 1 0 2 1 c h a pa l a st. | sa n ta ba r ba r a , c a 93 1 0 1

2.20.18

Type ▶ Office/Retail Price ▶ $3,200,000

CAP Rate ▶ 4.6% on current rents

Building Size ▶ ±6,300 SF

Price Per SF/Bldg. ▶ $508

Land Size ▶ ±7,840 SF

Price Per SF/Land ▶ $408

APN ▶ 039-272-009

HVAC ▶ In front two offices only. (Heating only in rear ballet space).

Zoning ▶ C-2 with Priority Housing Overlay (49–63 units per acre)

Zone of Benefit ▶ 35%

Year Built ▶ Approx. 1952

CSO ▶ 2.5%

Parking ▶ (6) Located in the Ralphs underground parking lot next door + unmarked open area behind the building.

property brief

Unique downtown Santa Barbara office/retail building adjacent to Ralphs and

across from the new retail building on Carrillo and Chapala Streets. Ideal for an

owner-user or investor. Contact Listing Agents for details.

mailto:pgamberdella%40radiusgroup.com?subject=Property%20Inquirymailto:gdeering%40radiusgroup.com?subject=Property%20Inquiry







2.20.18

property photos








2.20.18

floorplanc h a p a l a s t .

Not to scale

Vacant

Santa Barbara Ballet

Select Staffing

Ralphs Grocery

Stairs to an additional 6 parking spaces under Ralphs.

Rear Parking

Area

Easement Access








5.3.17

location

Carril

lo St.

Chapala St.








2.20.18

income analysis

Current Income: Tenant SF Lease Type NNN Rent/SF NNNRent Gross Rent Lease Exp Notes

Santa Barbara Ballet 3,483 NNN $1.76 $6,129 $8,907 6/30/2018 No Options to Extend. Rear Parking Area.

Select Staffing 1,562 NNN $2.03 $3,164 $4,411 3/31/2018No Option. Select Staffing is interested in

extending their current lease. Parking: 2 reserved & 2 unreserved.

Vacant - Proforma 1,431 NNN $2.10 $2,939 $4,080 8/31/2017

Monthly Base Rent $12,232

Tenant Reimbursables (NNN) $5,167

Total Monthly Rent $17,398

Annual Scheduled Income $208,780

Annual Gross Income $208,780

Less Expenses With New Taxes

New Taxes $33,000

Management $6,000

Maintenance & Repairs $18,000

Insurance $5,000

Annual Commercial Expenses ($/Sq. Ft.) $0.80/SF $62,000

Net Operating Income $146,780

Purchase Analysis

Purchase Price Price/SF CAP Rate

$3,200,000 $508/SF 4.6%








2.20.18

downtown santa barbara merchants map

1019–1021 Chapala St.±6,300 SF Office/Retail Building








2.20.18

Symbolizing the ultimate in casual California lifestyle, Santa Barbara is undoubtedly one of America’s most desirable travel destinations. Located on a pristine coastline approximately 337 miles south of San Francisco and 93 miles north of Los Angeles, Santa Barbara is nestled between the Pacific Ocean and the Santa Ynez Mountains. This stretch of coast is known as the “American Riviera” because of its Mediterranean climate.

With a population of approximately 92,000 in 2014, Santa Barbara is both small and vibrant. Locals and visitors alike are drawn to the city’s charming downtown and picturesque State Street with its rich Spanish architecture and historical sites, and wide variety of shops and galleries, numerous Zagat-rated restaurants, thriving open-air shopping centers like the famed Paseo Nuevo, pristine, sunny beaches and harbor, and countless other outdoor attractions including the Santa Barbara Zoo, Santa Barbara Mission, Stearns Wharf and Santa Barbara Museum of Natural History, to name just a few. Plus, with nearly 100 wineries within a short drive, Santa Barbara County is a world renowned wine region.

s a n t a b a r b a r at h e a m e r i c a n r i v i e r a








2.20.18

Economy

As a major travel destination, Santa Barbara’s tourism and hospitality industry are vital components of the local economy, which also includes a very large service sector (nearly 35% in 2004), education, technology, health care, finance, agriculture, manufacturing, and local government. Education in particular is well-represented with five higher learning institutions including UCSB, Santa Barbara City College and Westmont College

Rank Employer # Employees1 University of California, Santa Barbara 6,200

2 County of Santa Barbara 4,000

3 Santa Barbara Cottage Hospital 2,500

4 Santa Barbara City College 2,000

5 Santa Barbara School Districts 1,800

Rank Employer # Employees6 Raytheon 1,500

7 Sansum Clinic 1,500

8 City Of Santa Barbara 1,000

9 United States Postal Service 1,000

10 Union Bank 950

Demographics

2015 Population � ±91,842

Population Density � ±2,105 per square mile

Households � ±35,449

Age 0–18 � ±18.6%

Age 18–44 � ±42.0%

Age 44–64 � ±25.2%

Age 65+ � ±14.2%

santa barbara | economy & demographics

for sale 6,300 sfce/retail buildingoffi€¦ · the information provided here has been obained rom...

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