530 State StSanta Barbara, CA 93101

Property Details for 530 State St

Lot size

0.27 AC

Property type

Retail properties

Property subtype

Retail space

APN

037-173-026

APU

37173026

Description

This exceptional 11,450± square foot storefront property, located on State Street's most vibrant block in Santa Barbara, CA (93101), presents a compelling investment opportunity. Priced at $4,175,000 ($365 psf), the property boasts a unique configuration with high ceilings and a roll-up door, offering supreme flexibility for a multitude of uses. The building features a natural division between a 4,000 square foot State Street facing retail space and a 7,000 square foot rear portion with exposed beams, high ceilings, and ground-level loading (16' x 9'). Ample parking is available in the adjacent city lot. The M-C zoning allows for a wide range of uses, including restaurant, retail, office, hotel, storage, and residential. The property's high-density housing overlay presents significant potential for value enhancement, expansion, or owner-occupancy. Its proximity to the Funk Zone and the coastline further enhances its appeal. The property sits on a 13,068 square foot lot (APN: 037-173-026) and includes sprinklers. Nearby establishments include Drift Hotel, Hotel Santa Barbara, Cost Plus World Market, and numerous restaurants and cafes. This is a rare chance to acquire a versatile property in a highly desirable and thriving location.

• CAP approach

  CAP return

  Valuation

  6%

  $5,157,769

  6.5%

  $4,761,018

  7%

  $4,420,944

• Comparable approach

  Method

  Valuation

  Relative Method

  $5,635,909

  Geo Method

  $5,635,909

• Alternative Use

  Use

  Valuation

  Residential

  $4,016,096

  Hospitality

  $3,678,722

  Educational

  $3,060,654

  Medical

  $3,165,914

  Retail

  $4,761,018

Location Insight

City

Santa Barbara

County

Santa Barbara

State

California

Latitude

34.4179

Longitude

-119.696

CBSA code

42200

CBSA name

SANTA MARIA-SANTA BARBARA, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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