2.25.19 2 0 5 E . C a r r i l l o s t . s u i t E 1 0 0 | s a n t a B a r B a r a C a 9 3 1 0 1 | 8 0 5 . 9 6 5 . 5 5 0 0 | F a x 8 0 5 . 9 6 5 . 5 3 0 0 | r a d i u s g r o u p. C o m

2323 Oak Park Lane Santa Barbara, CA 93105

f o r s a l e | $ 6 , 4 5 0 , 0 0 0±7,625 SF Medical Office building directly across from Santa Barbara Cottage Hospital.

Steve Brown805.879.9607sbrown@radiusgroup.comCA Lic. 00461986

2.25.19 2 0 5 E . C a r r i l l o s t . s u i t E 1 0 0 | s a n t a B a r B a r a C a 9 3 1 0 1 | 8 0 5 . 9 6 5 . 5 5 0 0 | F a x 8 0 5 . 9 6 5 . 5 3 0 0 | r a d i u s g r o u p. C o m

For SALe � ±7,625SF MedicAL buiLding AcroSS FroM HoSpitAL2 3 2 3 oA k pA r k L n . | SA n tA bA r bA r A , c A 93 1 0 5

Austin Herlihy805.879.9633aherlihy@radiusgroup.comCA Lic. 01518112

Chris Parker805.879.9642cparker@radiusgroup.comCA Lic. 01887788

property brief

First class Medical/Office building offers easy access to nearby Santa Barbara

Cottage Hospital. The property includes a variety of spacious floor plans with

quintessential Spanish-style architecture, abundant windows and excellent

parking. Outstanding investment opportunity. Contact Listing Agents for

additional information.

Offered at $6,450,000

Building Size ±7,625 SF

Lot Size ±19,166 SF

Parking 29 Spaces (includes one ADA)

APN 025-090-038

Zoning C-O (Medical/Office)

CAP 5.0%

To Show Contact Listing Agents

The information provided here has been obtained from the owner of the property or from other sources deemed reliable. We have no reason to doubt its accuracy, but we do not guarantee it.

Steve Brown805.879.9607sbrown@radiusgroup.comCA Lic. 00461986

2.25.19 2 0 5 E . C a r r i l l o s t . s u i t E 1 0 0 | s a n t a B a r B a r a C a 9 3 1 0 1 | 8 0 5 . 9 6 5 . 5 5 0 0 | F a x 8 0 5 . 9 6 5 . 5 3 0 0 | r a d i u s g r o u p. C o m

For SALe � ±7,625SF MedicAL buiLding AcroSS FroM HoSpitAL2 3 2 3 oA k pA r k L n . | SA n tA bA r bA r A , c A 93 1 0 5

Austin Herlihy805.879.9633aherlihy@radiusgroup.comCA Lic. 01518112

Chris Parker805.879.9642cparker@radiusgroup.comCA Lic. 01887788

W. J

UNIPERO S

TREET

W. Q

UINTO S

TREET

W. P

UEBLO STREET

OAK PARK LANE

SANTA BARBARA COTTAGE HOSPITAL

OAK PARK

SUBJECTPROPERTY

Steve Brown805.879.9607sbrown@radiusgroup.comCA Lic. 00461986

2.25.19 2 0 5 E . C a r r i l l o s t . s u i t E 1 0 0 | s a n t a B a r B a r a C a 9 3 1 0 1 | 8 0 5 . 9 6 5 . 5 5 0 0 | F a x 8 0 5 . 9 6 5 . 5 3 0 0 | r a d i u s g r o u p. C o m

For SALe � ±7,625SF MedicAL buiLding AcroSS FroM HoSpitAL2 3 2 3 oA k pA r k L n . | SA n tA bA r bA r A , c A 93 1 0 5

Austin Herlihy805.879.9633aherlihy@radiusgroup.comCA Lic. 01518112

Chris Parker805.879.9642cparker@radiusgroup.comCA Lic. 01887788

Site pLAN

Not to scale

O A K P A R K L A N E

2323 Oak Park Lane

Steve Brown805.879.9607sbrown@radiusgroup.comCA Lic. 00461986

2.25.19 2 0 5 E . C a r r i l l o s t . s u i t E 1 0 0 | s a n t a B a r B a r a C a 9 3 1 0 1 | 8 0 5 . 9 6 5 . 5 5 0 0 | F a x 8 0 5 . 9 6 5 . 5 3 0 0 | r a d i u s g r o u p. C o m

For SALe � ±7,625SF MedicAL buiLding AcroSS FroM HoSpitAL2 3 2 3 oA k pA r k L n . | SA n tA bA r bA r A , c A 93 1 0 5

Austin Herlihy805.879.9633aherlihy@radiusgroup.comCA Lic. 01518112

Chris Parker805.879.9642cparker@radiusgroup.comCA Lic. 01887788

fLoorpLAN | 1St fLr . , Ste. 101 & 102

O A K P A R K L A N E

Not to scale

Steve Brown805.879.9607sbrown@radiusgroup.comCA Lic. 00461986

2.25.19 2 0 5 E . C a r r i l l o s t . s u i t E 1 0 0 | s a n t a B a r B a r a C a 9 3 1 0 1 | 8 0 5 . 9 6 5 . 5 5 0 0 | F a x 8 0 5 . 9 6 5 . 5 3 0 0 | r a d i u s g r o u p. C o m

For SALe � ±7,625SF MedicAL buiLding AcroSS FroM HoSpitAL2 3 2 3 oA k pA r k L n . | SA n tA bA r bA r A , c A 93 1 0 5

Austin Herlihy805.879.9633aherlihy@radiusgroup.comCA Lic. 01518112

Chris Parker805.879.9642cparker@radiusgroup.comCA Lic. 01887788

fLoorpLAN | 2Nd fLr .

O A K P A R K L A N E

Suite 201 Approx. 1,125 SF

BALCONY

BALCON

Y

Not to scale

Steve Brown805.879.9607sbrown@radiusgroup.comCA Lic. 00461986

2.25.19 2 0 5 E . C a r r i l l o s t . s u i t E 1 0 0 | s a n t a B a r B a r a C a 9 3 1 0 1 | 8 0 5 . 9 6 5 . 5 5 0 0 | F a x 8 0 5 . 9 6 5 . 5 3 0 0 | r a d i u s g r o u p. C o m

For SALe � ±7,625SF MedicAL buiLding AcroSS FroM HoSpitAL2 3 2 3 oA k pA r k L n . | SA n tA bA r bA r A , c A 93 1 0 5

Austin Herlihy805.879.9633aherlihy@radiusgroup.comCA Lic. 01518112

Chris Parker805.879.9642cparker@radiusgroup.comCA Lic. 01887788

LeASe SyNopSiS

Suite # Tenant Size (SF) Monthly Rent Rent/SF Share of Operating

CostsRent

AdjustmentSecurity Deposit

Parking Spaces Term (Start–End) Options Comments

101 Susanne Ramos 1,500 SF $5,129.78 $3.42 20% Annual CPI, 3%

Min. 6% Max $4,425,000 5 4/1/11–3/31/21 None

102 West Coast Vascular 2,375 SF $8,181.78 $3.44 31% Annual CPI, 2%

Min. 5% Max. $10,236.25 8 3/1/14–3/31/21 (1) 3-Year Option to Extend at FMV.

Lessee has the right to cancel with 9 month’s

notice.

201 Sleep Med, Inc. 1,150 SF $5,320.24 $4.63 15% Annual fixed at 4% $4,795.50 4 12/1/2008–

11/30/19 None

202 Santa Barbara Cottage Hospital 2,600 SF $8,115.12 $3.12 34% Annual CPI, 2%

Min.–6% Max. $10,192 10 3/1/09–3/31/19 (1) 5-Year Option to Extend FMV.

TOTALS: 7,625 SF $26,746.92 100% $29,648.75 29

Steve Brown805.879.9607sbrown@radiusgroup.comCA Lic. 00461986

2.25.19 2 0 5 E . C a r r i l l o s t . s u i t E 1 0 0 | s a n t a B a r B a r a C a 9 3 1 0 1 | 8 0 5 . 9 6 5 . 5 5 0 0 | F a x 8 0 5 . 9 6 5 . 5 3 0 0 | r a d i u s g r o u p. C o m

For SALe � ±7,625SF MedicAL buiLding AcroSS FroM HoSpitAL2 3 2 3 oA k pA r k L n . | SA n tA bA r bA r A , c A 93 1 0 5

Austin Herlihy805.879.9633aherlihy@radiusgroup.comCA Lic. 01518112

Chris Parker805.879.9642cparker@radiusgroup.comCA Lic. 01887788

proformA iNcome ANALySiSSuite Tenant Size (SF) Price/SF Year 1

101 Susanne Ramos 1,500 SF $3.42 $5,130

102 West Coast Vascular 2,375 SF $3.44 $8,182

201 Sleep Med, Inc. 1,150 SF $4.63 $5,320

202 Santa Barbara Cottage Hospital 2,600 SF $3.12 $8,115

Subtotal: 7,625 SF $3.51 $26,747

Tenant Reimbursables (NNN): 100% $11,158

Total Monthly Rent: $37,905

Annual Gross Income: $454,861

Less Estimated Expenses New Taxes: 1.05% $6,450,000 $67,725

Insurance: $4,754

Utilities: $14,193

Landscaping & Janitorial: $8,020

Repairs & Maintenance: $10,638

HVAC: $1,522

Pest Control: $970

Telephone: $478

Elevator: $2,855

Management: 5.0% $22,743

Annual Expenses ($/SF): ($1.46) ($133,898)

Net Operating Income $320,963

CAP RATE 5.0%

PURCHASE PRICE $6,450,000Recent expansion at Santa Barbara Cottage Hospital with 2323 Oak Park Lane in the distance.

Steve Brown805.879.9607sbrown@radiusgroup.comCA Lic. 00461986

2.25.19 2 0 5 E . C a r r i l l o s t . s u i t E 1 0 0 | s a n t a B a r B a r a C a 9 3 1 0 1 | 8 0 5 . 9 6 5 . 5 5 0 0 | F a x 8 0 5 . 9 6 5 . 5 3 0 0 | r a d i u s g r o u p. C o m

For SALe � ±7,625SF MedicAL buiLding AcroSS FroM HoSpitAL2 3 2 3 oA k pA r k L n . | SA n tA bA r bA r A , c A 93 1 0 5

Austin Herlihy805.879.9633aherlihy@radiusgroup.comCA Lic. 01518112

Chris Parker805.879.9642cparker@radiusgroup.comCA Lic. 01887788

property pHotoS

Steve Brown805.879.9607sbrown@radiusgroup.comCA Lic. 00461986

2.25.19 2 0 5 E . C a r r i l l o s t . s u i t E 1 0 0 | s a n t a B a r B a r a C a 9 3 1 0 1 | 8 0 5 . 9 6 5 . 5 5 0 0 | F a x 8 0 5 . 9 6 5 . 5 3 0 0 | r a d i u s g r o u p. C o m

For lease � ±2,600sF Medical oFFice across FroM Hospital2 3 2 3 oa k pa r k l n . , st e . 2 0 2 | sa n ta ba r ba r a , c a 93 1 0 5

Austin Herlihy805.879.9633aherlihy@radiusgroup.comCA Lic. 01518112

Chris Parker805.879.9642cparker@radiusgroup.comCA Lic. 01887788

SANtA bArbArA cottAge HoSpitAL

Santa Barbara Cottage Hospital (SBCH) is a 510-bed, acute-care teaching hospital and level II trauma center, the largest of its kind between Los Angeles and the San Francisco Bay Area. The hospital was founded in 1888 by 50 women determined to provide a healthcare facility for the growing community of Santa Barbara. With annual admissions of 18,204 patients, 44,397 emergency department visits and 2,216 births, the hospital is

renowned for its comprehensive maternal-child and pediatric services (Cottage Children’s Hospital), cardiac, neurosurgical and oncology programs, emergency and trauma services, modern operating rooms, sophisticated diagnostic radiology equipment, outpatient surgery, eye center, psychiatric and chemical dependency services and inpatient and outpatient rehabilitation services (Cottage Rehabilitation Hospital).

Cottage Redevelopment ProjectThe Cottage Hospital Modernization and Seismic Compliance Project was approved by the Santa Barbara City Council 12 years ago. The massive multi-phase, $700 million construction project will bring the total square footage of the new Hospital to 712,550 SF. The project has recently completed Phase 6, which consists of a nursing pavilion and a diagnostic and treatment pavilion. The construction consists of seven phases and is 90% complete overall. Site work and off site work (final grade, retaining walls, stone veneer, sidewalks and other hardscape) are approximately 50% complete. Interiors are 95% complete. Commissioning and Testing for Mechanical, Electrical & Plumbing Systems (MEP) are underway.

https://www.cottagehealth.org/about/construction-updates/

Sources: Cottage Health: http://www.cottagehealth.org/; Noozhawk.com