This exceptional 4,653-square-foot retail storefront at 601 State Street in downtown Santa Barbara presents a unique investment opportunity. Located on a highly visible corner lot at the intersection of State and W Cota Streets, this Class B property boasts an unparalleled location within a thriving commercial district. Built in 1970, the single-tenant building sits on a 0.12-acre lot and is currently vacant, offering flexibility for owner-users or investors seeking to capitalize on the high demand for retail space in this area. The asking price is $4,300,000, translating to $924.13 per square foot. Surrounding businesses include prominent national retailers such as Apple, Marshalls, Urban Outfitters, Hollister, Lululemon, H&M, and World Market, along with a variety of local boutiques and restaurants. This "trophy" asset offers strong visibility and significant potential for return on investment, whether through re-tenanting or owner-occupancy. The property's prime location and the scarcity of comparable opportunities in this desirable trade area make it an exceptional investment prospect. The property is suitable for a wide range of retail uses and benefits from its high foot traffic and prominent street frontage. This is a rare chance to acquire a significant retail presence in the heart of Santa Barbara's vibrant downtown.
Valuation by Paperhouses methods
Valuation date:
Dec 11, 2024
CAP approach
CAP return
Valuation
6%
$1,776,270
6.5%
$1,639,630
7%
$1,522,520
Comparable approach
Method
Valuation
Relative Method
$1,033,720
Geo Method
$1,033,720
Alternative Use
Use
Valuation
Industrial / Distribution
$3,188,610
Mixed-Use / Specialty
$1,637,360
Hospitality / Lodging
$1,205,930
Office
$1,631,350
Institutional / Educational
$1,703,470
Residential Income
$1,993,060
Multifamily
$2,370,570
Automotive / Energy
$1,460,120
Parking / Income-Based Land
$500,341
Restaurant / Food Service
$859,222
Healthcare / Senior Housing
$1,675,420
Location Insight
City
Santa Barbara
County
Santa Barbara
State
California
Latitude
34.4176
Longitude
-119.697
CBSA code
42200
CBSA name
SANTA MARIA-SANTA BARBARA, CA METROPOLITAN STATISTICAL AREA
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Disclaimer
The property value estimates provided on this website are automated calculations based on publicly available data, user-submitted information, and proprietary algorithms. These estimates are not appraisals and should not be used as a substitute for a professional valuation by a licensed appraiser.
We do not guarantee the accuracy, reliability, or completeness of these estimates, as market conditions, property features, and other factors may affect actual property values. Users should conduct their own due diligence and consult with a real estate professional before making financial or investment decisions.
By using this service, you acknowledge and accept that all estimates are provided for informational purposes only and that this website assumes no liability for any reliance on the provided valuations.
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