601 State StSanta Barbara, CA 93101

Property Details for 601 State St

Lot size

0.12 AC

Property type

Retail properties

Property subtype

Retail space

APN

037-131-010

APU

37131010

Description

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.

• CAP approach

  CAP return

  Valuation

  6%

  $2,292,286

  6.5%

  $2,115,956

  7%

  $1,964,816

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,504,795

  Geo Method

  $2,504,795

• Alternative Use

  Use

  Valuation

  Residential

  $1,784,888

  Hospitality

  $1,634,948

  Educational

  $1,360,258

  Medical

  $1,407,039

  Retail

  $2,115,956

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

Property Tax & Assessments

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