1529 State Street, SANTA BARBARA, CA 93101 (MLS# 14-3378)

Your search results

1529 State Street, SANTA BARBARA, CA 93101

$5,250,000

Property Type: Commercial Sale Baths: 3 Square Footage: 9,100 Lot Size (sq. ft.): 18,879 Status: Closed

Current Price: $5,250,000 List Date: 12/02/2015 Last Modified: 9/16/2024

Overview

Description

FEE-SIMPLE PROPERTY on State Street consists of TWO Spanish-tiled buildings totaling 9,100 s.f. of improvements on an 18,879 s.f. corner parcel ideally-located on the business corridor of one of the most valuable commercial districts in the nation. This location, with excellent visibility and ease-of-access, has a high traffic count of about 30,000 cars a day. Owner also has conceptuals for the

Supplements: addition of 9 high-end condos w/ 6 executive offices & underground parking. This property, zoned C-2, is currently leased to Cantwells Market which has been paying $28K/month NNN. Seller owns the business & the property & requires them to be sold together as a package (see Cantwells Business Listing at $1.1MIL). Summerland Cantwell's business locat ... (Read more)

Listing Details MLS# 14-3378

Location Info

District: 15 - SB/EAST OF STATE
Street #: 1529
Street Name: State
Street Suffix: Street
State: CA
Country: US
Postal Code: 93101
Compass Map: Santa Barbara
Map Grid: O12
County: Santa Barbara
Parcel Number: 027-231-022
Cross Street: Arrellaga

Contract Info

Price: 5495000
Buyers Agent $/%: 2.5
Begin Date: 2014-10-29

Property Information

TYP: Business
For Sale/Lease: For Sale
Year Built: 1982
Yr Built Remarks: REMODELED
Year Remodeled: 5
Stories: Yes
#Offices: 3
#Retail: 3
Total Bathrooms: 3
Gross Sq Ft: 9100
Nt Rt Sq Ft.: 9100
Total SqFt.: 9100
Apx Lot SqFt: 18879
Apx # Acres: 0.43

Owner Info

Deposit: 50000

Remarks

Directions: STATE STREET TO ARRELLAGA or HWY 101 NORTH TO ARRELLAGA EXIT STRIGHT TO STATE STREET.
Hot Sheet Comment: new

Status Change Info

Sold Date: 2016-03-16
Under Contract Date: 2016-01-24

More Information

Business Info

# Pk/1000: 28
% Currently Leased: 100
Sales/Lse BK: Sale
Current Use: Market-Retail-Office
Doing Business As: CANTWELLS
# Employees: 20
Year Est: 1981
Owned Since: 2000
Owner Works: NO
Value of Furn$: 512000
Value of Fixt$: 504000
Date Avail: YESTERDAY
Value of Inv$: 275000
Lease Rate: $28,300 / month NNN
G/NNN: GROSS
Lease Term: 10+years
Days Per Week: 7
TI Allowance: N/A
St. Signage: Yes

Condition

Good: Yes

Income/Expenses

Annual Gross Income: 339600
Effect Gross: 339600
NOI: 339600

Use

Retail/Commercial: Yes

Zoning

C-2: Yes

Terms

Cash: Yes
Conventional: Yes
Ctel: Yes
OMC 1st: Yes
OMC 2nd: Yes

Listing Type

ER: Yes

Tenant Pays

Heat: Yes
Elec: Yes
Gas: Yes
Wtr: Yes
Taxes: Yes
Trash: Yes
Cbl TV: Yes
Janitr: Yes
Wnd Cln: Yes
Ins: Yes
Ext Main: Yes
Int Main: Yes
Prk Area: Yes

Parking

Uncovrd: Yes

Real Estates Incl

Yes: Yes

Reports

Phase 1: Yes

1031 Exchange

Poss: Yes

Property Features

Business Info: St. Signage Use: Retail/Commercial Zoning: C-2 Condition: Good Tenant Pays: Heat; Elec; Gas; Wtr; Taxes; Trash; Cbl TV; Janitr; Wnd Cln; Ins; Ext Main; Int Main; Prk Area Parking: Uncovrd Real Estates Incl: Yes Reports: Phase 1 1031 Exchange: Poss Terms: Cash; Conventional; Ctel; OMC 1st; OMC 2nd Listing Type: ER

Listing Office: Century 21 Masters

Last Updated: September - 16 - 2024

The data relating to real estate for sale on this web site comes from the Internet Data Exchange Program of the Santa Barbara Multiple Listing Service. Real estate listings held by brokerage firms other than the displaying broker(s) are marked with the 'MLS' logo and detailed information about them includes the name of the listing brokers. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor displaying broker shall be responsible for any typographical errors, misinformation, or misprints. 2015 Santa Barbara Multiple Listing Service. All rights reserved.