1529 State Street, SANTA BARBARA, CA 93101
$5,250,000
Property Type:
Comm/Ofc
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:
4/18/2019
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 location is also available and needs to be included in this pkg. Creative financing is available FEE SIMPLE PROPERTY
More Information MLS# 14-3378
Location Info
District: 15 - SB/EAST OF STATE
Street #: 1529
Street Name: State
Street Suffix: Street
State/Province: CA
Postal Code: 93101
Compass Map: Santa Barbara
Map Grid: O12
County: Santa Barbara
Parcel Number: 027-231-022
Cross Street: Arrellaga
Contract Info
Current Price: $5,250,000
Price: 5495000
Buyers Agent $/%: 2.5
Begin Date: 2014-10-29
Status: Closed
Property Information
TYP: Commercial
For Sale/Lease: For Sale
Year Built: 1982
Yr Built Remarks: REMODELED
Year Remodeled: 5
Stories: 1
#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
Sold Price: $5,250,000
Under Contract Date: 2016-01-24
Business Info
# Pk/1000: 28
% Currently Leased: 100
Sales/Lse BK: Sale
Current Use: Market-Retail-Office
Doing Business As: CANTWELLS
# Employees: 20
Year Est: 1981
Owned Since: 2000
Owner Works: NO
Value of Furn$: 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
Income/Expenses
Annual Gross Income: 339600
Effect Gross: 339600
NOI: 339600
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; Ctnl; Ctel; OMC 1st; OMC 2nd
Listing Type: ER
Listing Office: Century 21 Real Estate Alliance
Last Updated: April - 18 - 2019
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