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A shley G alla [email protected] Lic. 02040772
1514 ANACAPA ST. SANTA BARBARA, CA 93101
FOR SALE OR FOR LEASE
Office Building In A Prime
Downtown Location.
OFFERED FOR SALE AT
$2,400,000
OFFERED FOR LEASE AT
$2.50/SF NNN ($0.40)
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A shley G alla [email protected] Lic. 02040772
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.
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Well positioned office location with available 1,400 SF for lease. Back
patio, private entrances, and private restroom with shower. True to Santa
Barbara’s historic Spanish-style architecture, this building allows for a
multi-tenant asset in the city’s financial district. Highly positioned for an
owner-user looking to relocate their office or a multi-tenant NNN investment
once fully leased. Contact Listing Agent for further information.
Offering Specifics
Sale Price $2,400,000
Building Size ±3,504 SF
Price/SF $685
Lot Size ±6,790 SF
No. of Units 4
CAP Rate Fully Stabilized 4.09%
NOI $103,539
APN 027-241-016
Zoning O-R
Floors 1
HVAC Throughout
Parking Private Lot
Restrooms 2
Year Built 1954
P R O P E R T Y O V E R V I E W
±1,400 SF office space also available immediately for lease at $2.50/SF NNN ($0.40) with one restroom, private lot and on-street parking.
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A shley G alla [email protected] Lic. 02040772
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.
Anacapa St.
Santa Barbara St.
E. Sola
St.
E. Micheltore
na St.
SUBJECT PROPERTY
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A shley G alla [email protected] Lic. 02040772
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.
1 Cantwell’s Market & Deli
2 Bill’s Copy Shop
3 Santa Barbara Yoga Center
4 Community West Bank
5 La Quinta Inn & Suites
6 South Coast Deli
7 Opal
8 Carlitos Café y Cantina
9 Chase Bank
10 Starbucks
11 Santa Barbara Public Market
12 Crushcakes & Cafe
13 Simpson House Inn
14 EF International Language Campus
STATE ST.
CHAPALA ST.
ANACAPA ST.SANTA BARBARA ST.
Alameda Plaza
Santa Barbara
Courthouse
Alice Keck Park Memorial
Gardens
The Arlington Theatre The Granada
Theatre
8
97
6
5
4
3
2
10
11
14
13
12
1
SUBJECT PROPERTY
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A shley G alla [email protected] Lic. 02040772
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.
I N C O M E A N A LY S I SIncome Analysis 3,504 SF1514 Anacapa, Santa Barbara
Current Income Suite Tenant Sq.Ft. Lease Type NNN Rent/SF NNN Rent NNN's Gross Rent Lease Expiration
A Mountain Wealth Mgmt.
421 NNN $2.49 $1,048 $455 $1,503
May-22B Maizlish
Realtors833 NNN $2.50 $2,083 $900 $2,982
Current Tenant is paying $1,800 MTM
C Juliana Malis Attorney
850 NNN $2.35 $1,998 $918 $2,916
21-DecD Vacant
Proforma1,400 NNN $2.50 $3,500 $1,512 $5,012
TBDTotal Bld SF: 3,504 Monthly Base Rent: $8,628
Tenant Reimbursable (NNN's) $3,785Gross Monthly Rent (Base Rent + NNN's) $12,413
Annual Scheduled Income: $148,960
Annual Gross Income: $148,960
NNN ExpensesNew Taxes at 1.1% $26,400Utilities $500Insurance $7,000Maintenance $7,000Property Management at 3% $4,521
Annual Commercial Expenses: $1.08 $45,421(Monthly Expenses/Total Bldg SF) PSF
Net Operating Income: $103,539
Price Analysis:
Estimated Lease up Costs (All Are Estimates)Tenant Improvements on Commercial $10 /SF $35,040
6 Months $74,480Leasing Brokerage (6% on 5 Year Deals for Commercial) $20,097
Total Lease Up Costs $129,617
Cap Rate on Fully Stabilized Value Lease Up Costs Sale Price
Fully Stabilized Value Sale Price/SF
Values: 4.09% $129,617 $2,400,000 $2,529,617 $685
Lease Up Time (Gross Rent)
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A shley G alla [email protected] Lic. 02040772
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.
P R O P E R T Y P H O T O S
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A shley G alla [email protected] Lic. 02040772
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.
VA C A N T O F F I C E S U I T E