n la cumbre road contacts: 200 - loopnet...n la cumbre road santa barbara, ca te ormao oaed ere a...
TRANSCRIPT
Contacts:
Kristopher [email protected]. 01482732
Greg [email protected]. 01131125
SIGNIFICANT PRICE REDUCTION
200
FOR SALEMEDICAL/OFFICE
The information contained herein 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 i t. 3/22/19
N La Cumbre RoadSANTA BARBARA, CA
La CumbrePlaza
Five PointsCenter
Target
Subject
N La Cumbre RoadSANTA BARBARA, CA
The information contained herein 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 i t.
Outstanding location in the heart of Santa Barbara’s upper State Street area, near the La Cumbre Mall, Five Points Shopping Center, the new Target site and residential developments with easy access to US 101 & Hwy 154. This medical/office property features ample parking in a serene garden setting with a diverse range of medical professionals. The property is positioned to allow upside potential for an investor or developer, or is a great opportunity for an owner-user to occupy part of the property while enjoying income from the existing leases.
NEW PRICE: $4,675,000 ($381/RSF • $80/SF OF LAND)
Building area: Approximately 12,270 sf of rentable area
Site area: 1.34 Acres (58,370 sf )
APN: 057-240-051
Zoning: O-M/USS
Floors: All single-story
Year Built: 1966
Parking: 46 spaces (3.75 spaces / 1,000 sf )
HVAC: Yes
Utilities: All utilities are master-metered
Sprinklers: None
CSO: 2%
To Show: Call listing agents — do not disturb tenants
SUMMARYTHE 20
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Given the subject property’s excellent location and flexible zoning, there are several scenarios that will reward the buyer.
Investor • Realize significant income gains and higher
return with interior improvements and lease-up in the near term
• Multitenant property with several suites in four buildings provides income stability and avoids reliance on a single tenant
• Demograhics of the area favor a steady, long-term income stream at this location
• Multiple leases were recently renewed at attractive rents evidencing tenancy’s commitment to the property and reducing near-term rollover.
Developer• Collect income on existing leases while
processing permits and approvals to re-imagine the site and maximize its value
• Zoning allows for commercial and multifamily uses, providing great flexibility for a developer
• Rare opportunity considering the scarcity of developable land
• Demand is near historic highs for rental housing and the City is receptive to multifamily development in this area
Owner-User• Occupy part of the site and expand as needed
in the future as leases expire• Earn income on leased spaces to offset
mortgage costs • Take advantage of low interest rates, tax
benefits of ownership, and equity appreciation• Flexibility exists to occupy approximately 51%
of the property in the near term and thereby comply with SBA financing criteria
OPPORTUNITYTHE 20
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The information contained herein 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 i t. 3/22/19
N La Cumbre RoadSANTA BARBARA, CA
The information contained herein 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 i t.
PHOTOSTHE 20
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3/22/19
N La Cumbre RoadSANTA BARBARA, CA
The information contained herein 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 i t.
SITE PLANTHE
VIA
LU
CERO
LA CUMBRE RD
cove
red
park
ing
belo
w
Stairs
Vacant
Dr Aijian
Dr Payne & Dr Liang
Purety Family Medical
Dr Perez, DDS
Dr Dunn, DDS
Dr Nunez, DDS
Fredda Meisel
960 SFSTE A960 SF
STE C/D1,536 SF
1,969 SF1,079 SF
536
SF
928 SF
942 SF
STE H/K2,848 SF
512 SF
B
E
F
G
L
M
N(storage on lower level)
200
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GE
5
3/22/19
N La Cumbre RoadSANTA BARBARA, CA
CONFIDENTIALITY AGREEMENT
The Seller, through Hayes Commercial Group (“Sales Agent”), has available for study certain information (“Evaluation Materials”) regarding 200 N La Cumbre Rd in Santa Barbara, CA (the “Property”). We are prepared to furnish the Evaluation Materials to you in connection with discussions concerning your possible investment in the Property only on the condition that you agree to treat the Evaluation Materials confidentially and agree specifically as follows:
1. The Evaluation Materials furnished to you will not be used for any purpose other than to evaluate a possible investment in the Property by you as a Principal or broker;
2. You will not make any of the Evaluation Materials available, or disclose or distribute, either orally or in writing, any of the contents of the Evaluation Materials, to any person other than your counsel, analyst(s), equity partner(s), broker(s), or potential lender(s) (hereinafter “Excluded Persons”);
3. You will not disclose to any person, other than Excluded Persons, either the fact that discussions or negotiations are taking place concerning a possible investment in the Property by you or any of the terms, conditions or other facts with respect to any such possible investment, including the status thereof;
4. You agree that you will not contact the tenant or property management staff of the Property in connection with your review of the Evaluation Materials. Any and all questions related to the Evaluation Materials must be directed solely to Kristopher Roth and Greg Bartholomew at Hayes Commercial Group;
5. You acknowledge that neither the Seller, nor Hayes Commercial Group, nor any affiliate of either of such persons, nor any partner, director, officer, employee, agent of or consultant to any such persons (collectively, “Seller/Agent”) has made any representation or warranty as to the completeness or accuracy of the Evaluation Materials, and any representation or warranty in connection therewith is hereby expressly excluded. The Evaluation Materials provided to you are subject to change of price or terms, withdrawal from market without notice, and prior sale. You agree that the Seller/Agent shall have no liability to you resulting from the delivery to, or use by, you of the Evaluation Materials or otherwise with respect thereto, and you
agree to defend, indemnify and hold the Seller/Agent harmless from and against all loss, damage or expense sustained or incurred by Seller/Agent by reason of any unauthorized distribution or disclosure of the Evaluation Materials by you or by any Excluded Person;
6. We may elect at any time to terminate access to the Evaluation Materials, and you agree that you will, following any request by us or if you do not wish to invest in the Property, promptly redeliver to us all written Evaluation Materials and any other written material (and agree to delete any analyses contained in a database or spreadsheet type format) containing information in the Evaluation Materials and will not retain copies of such written material;
7. You acknowledge that you have not dealt with any broker other than Hayes Commercial Group or below named broker concerning the investment in the Property; and
8. You acknowledge that when you make available the Evaluation Materials to any Excluded Person, you will inform such Excluded Persons of the confidential nature of the Evaluation Materials and the existence and terms of this Agreement.
Please acknowledge your agreement to and acceptance of the foregoing by signing where indicated below and returning one (1) executed copy of the to our attention.
ACCEPTED AND AGREED effective as of __________________, 2018
PRINCIPAL BROKER
By: ___________________________ By: ____________________________
Name: ________________________ Name: _________________________
Company: _____________________ Company: ______________________
Tel: ___________________________ Tel: ____________________________
Email: _________________________ Email: __________________________
Kristopher [email protected]. 01482732
Greg [email protected]. 01131125
Deliver to the attention of:
The information contained herein 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 i t.20
0
FOR SALEMEDICAL/OFFICE
3/22/19
N La Cumbre RoadSANTA BARBARA, CA