premier investment opportunity 3905 state...san roque plaza santa barbara golf club five points...

3905 STATESTREET SANTA BARBARA, CA 93105

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 | R A D I U S G R O U P . C O M1 2 . 2 4 . 2 0

PREMIER INVESTMENT OPPORTUNIT Y

NEW PRICE$9, 4 5 0 ,0 0 0

±14,346 SF Retail Center

on ±41,817 SF Corner Lot

100% Occupied

Located at high traffic

signalized intersection

directly across from

new Target store

Aus tin H e [email protected] LIC. 01518112

Steve B r ow [email protected] LIC. 00461986

mailto:aherlihy%40radiusgroup.com%20?subject=mailto:sbrown%40radiusgroup.com%20?subject=

F O R S A L E | ± 1 4 , 3 4 6 S F N E I G H B O R H O O D R E TA I L C E N T E R

3 9 0 5 S t a t e S t . | S a n t a B a r b a r a , C A 9 3 1 0 5




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.

Property Highlights

• 100% occupied shopping center anchored by TD Ameritrade and Peet’s Coffee.

• Situated at the signalized corner of State Street and La Cumbre, one of Santa Barbara’s busiest intersections.

• Ideally located directly across the street from a new Target store with several residential developments under construction in the neighborhood.

• Within close proximity to La Cumbre Plaza Shopping Center

Offering Specifics

New Price $9,450,000

Building Size ±14,346 SF ($659/SF)

Lot Size ±41,817 SF

CAP Rate 6.0%

NOI $564,693

Suites 9

Parking 47 Spaces

Zoning General Commercial

APN 051-021-005



SHOPPING CENTER TENANTS








PEET’S COFFEE

Peet’s Coffee is a San Francisco Bay Area-based specialty coffee roaster and retailer owned by JAB Holding Company. Founded in 1966 by Alfred Peet in Berkeley, California, Peet’s introduced the United States to its darker roasted Arabica coffee in blends including French Roast and grades appropriate for espresso drinks.Peet’s offers freshly roasted beans, brewed coffee and espresso beverages, as well as bottled cold brew. Peet’s coffee is sold in over 14,000 grocery stores across the United States. peets.com

THE GOOD FEET STORE

Good Feet began as a family-owned business in 1992, with a mission to help people who suffer from tremendous foot and back pain. The Good Feet system encompasses over 100 individually owned and operated stores throughout the world. goodfeet.com

CHAMPAGNE NAIL BAR

High-end nail salon serving refreshments in luxurious surroundings.https://champagne-nail-bar.business.site

THAIRPY SALON

Built on the foundations of renowned salons in Santa Barbara, Thairpy Salon offers a broad range of services from men, women and chirldrens cuts to trending hair colors, extensions and Brazilian blowouts.thairapysb.com

QUEST DIAGNOSTICS

Quest Diagnostics Incorporated is an American clinical laboratory founded in 1967 as Metropolitan Pathology Laboratory, Inc. It became an independent corporation with the Quest name on December 31, 1996. As a Fortune 500 company, Quest operates in the United States, United Kingdom, Mexico, and Brazil.questdiagnostics.com

AGELESS MEN’S HEALTH

Ageless Men’s Health was founded by a team with an extensive clinical background, who noticed a problem: low testosterone levels in men were un-derdiagnosed and treated poorly. The company believes in empowering trained medical profes-sional to use the most advanced scientific tech-niques. Their clinics are managed and run by RNs, and use scientifically-proven methods to deliver sustainable health benefits to men. instagram.com/shopheavenscent

UNITED PARCEL SERVICE

United Parcel Service (UPS) is an American multinational package delivery and supply chain management company. The global logistics com-pany is headquartered in the U.S. City of Sandy Springs, Georgia, which is a part of the Greater Atlanta metropolitan area.ups.com

MZ NUTRITION

Operating since 2005 and one of the largest online stores offering dietary supplements in Poland. In 2015 the company opened their second warehouse in England with another soon to open in Goerlitz, Germany. MZ Nutrition offers brands such as Douglas Laboratories, Kirkman, Doctor’s Best, Jarrow Formulas, Natural Sources, Life Ex-tensions, Now Foods, Swanson, Source Naturals, Seeking Health, and Thorne. mz-store.com

TD AMERITRADE

Operating since 1975, TD Ameritrade opened its doors as First Omaha Securities building a business model that put investors’ needs first by making investing accessible, understandable, and valuable. amtd.com

T E N A N T S








2019 DEMOGRAPHICS 1 MILE 3 MILE 5 MILE

Average HHI: $109,500 $123,257 $123,950

Population: 14,977 78,987 137,249

Daytime Population: 15,292 64,997 135,726

2019 Estimates from SitesUSA

TRAFFIC COUNTS

S. La Cumbre at State Street 15,981 ADT

State Street at US Hwy 101 28,427 ADT

Traffic Counts from LandVision

S L

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STATE STREETUS HWY 101








Parcel MapSite Plan

STATE STREET

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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 1 . 9 . 2 0

Proforma Income

ADDRESS TENANT SIZE (SF)

279-R1 MZ Nutrition 1,200

279-R2 Peet's Coffee 1,512

279-R3 Ageless Men's Health 833

279-R4 Champagne Nail Bar 1,345

279-R5 TD Ameritrade 3,064

279-R6 The Good Feet 1,736

279-R7 UPS 1,783

279-R8 The Hair Salon 1,609

279-R9 Quest 1,264 YEAR 1 YEAR 2 YEAR 3 YEAR 4 YEAR 5

SUBTOTAL: 14,346 $616,183 $632,709 $649,731 $667,263 $685,322

Additional Rent* $8,004 $8,004 $8,004 $8,004 $8,004

Tenant Reimbursables (NNN)**: 86% $211,480 $207,714 $212,954 $218,333 $223,855

Total Annual Rent: $835,667 $848,427 $870,689 $893,600 $917,180

Vacancy (3%): ($25,070) ($25,453) ($26,121) ($26,808) ($27,515)

*Hair Salon pays amortized TI of $667/month throughout lease term **Owners courtesy cap on CAM charges reducing collectibles to 86%.

Annual Gross Income: $810,597 $822,974 $844,569 $866,792 $889,665

(Less Expenses) ($245,907) ($241,528) ($247,621) ($253,876) ($260,296)

YEAR 1 YEAR 2 YEAR 3 YEAR 4 YEAR 5

NET OPERATING INCOME: $564,690 $581,446 $596,947 $612,917 $629,369

CAP RATE: 6.0% 6.2% 6.3% 6.5% 6.7%

PURCHASE PRICE: $9,450,000

PRICE PER SQUARE FOOT: $659/SF







STATE STREET

STATE STREET

S. HOPE A

VENUE

LAS POSITAS

ROAD

S. LA C

UMBRE

RD.

La CumbrePlaza Mall

OntarePlaza

San RoquePlaza

Santa BarbaraGolf Club

Five Points Shopping Center

Nearby Businesses & Amenities

1 Target

2 The Marc Luxury Apartments

3 Gold’s Gym

4 Five Points Shopping Center

5 Big 5 Sporting Goods

6 Ross Dress For Less

7 Petco

8 La Cumbre Plaza Mall

9 Macys

10 Pottery Barn

11 Williams-Sonoma

12 Lure Fish House

13 Panera, Chipotle, See’s Candy

14 Whole Foods

15 Rabobank

16 Best Western Plus Pepper Tree Inn

17 Wells Fargo Bank

18 Bank of America Financial Center

19 Ontare Plaza

20 Jeannine’s Restaurant & Bakery

21 San Roque Plaza, Gelson’s Market

22 Santa Barbara Golf Club

23 Acura, Mercedez Benz, Lexus, Tesla

24 Tori Apartments

25 Hope Gardens Senior Living

26 Estancia Luxury Residences Development

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3 4

89

10 11

13

1415

19

21

22

23

24

25

26

20

16

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1812

7

5

63905

STATE ST.








A D D I T I O N A L P R O P E R T Y P H O T O S





The Seller, through Radius Commercial Real Estate (“Sales Agent”) has available for study certain information (“Evaluation Materials”) regarding 3905 State St. in Santa Barbara, CA (the “Property”). We are prepared to furnish the Evaluation Materials to you in connection with discussions concerning your possible investment in the Property only on the condition that you agree to treat the Evaluation Materials confidentially and agree specifically as follows:

1.) The Evaluation Materials furnished to you will not be used for any purpose other than to evaluate a possible investment in the Property by you as a Principal or broker;

2.) You will not make any of the Evaluation Materials available, or disclose or distribute, either orally or in writing, any of the contents of the Evaluation Materials, to any person other than your counsel, analyst (s), equity partner(s), brokers(s), or potential lender(s) (hereinafter “Excluded Persons”);

3.) You will not disclosed to any person, other than Excluded Persons, either the fact that discussions or negotiations are taking place concerning a possible investment in the Property by you or any of the terms, conditions or other facts with respect to any such possible investment, including the status thereof;

4.) You agree that you will not contact the tenant or property management staff of the Property in connection with your review of the Evaluation Materials. Any and all questions related to the Evaluation Materials must be directed solely to Austin Herlihy and Steve Brown at Radius Commercial Real Estate.

5.) You acknowledge that neither the Seller, nor Radius Commercial Real Estate, nor any affiliate of either of such persons, nor any partner, director, officer, employee, agent of or consultant to any such persons (collectively, “Seller/Agent”) has made any representation or warranty as to the completeness or accuracy of the Evaluation Materials, and any representation or warranty in connection therewith is hereby expressly excluded. The Evaluation Materials provided to you are subject to change of price or terms, withdrawal from market without notice, and prior sale. You agree that the Seller/Agent shall have no liability to you resulting from the delivery to, or use by, you of the Evaluation Materials or otherwise with respect thereto, and you agree to defend, indemnify and hold the Seller/Agent harmless from and against all loss, damage or expense sustained or incurred by Seller/Agent by reason of any unauthorized distribution or disclosure of the Evaluation Materials by you or by any Excluded Person;

6.) We may elect at any time to terminate access to the Evaluation Materials, and you agree that you will, following any request by us or if you do not wish to invest in the Property, promptly redeliver to us all written Evaluation Materials and any other written material (and agree to delete any analyses contained in a database or spreadsheet type format) containing information in the Evaluation Materials and will not retain copies of such written material;

7.) You acknowledge that you have not dealt with any broker other than Radius Commercial Real Estate concerning the investment in the Property; and

8.) You acknowledge that when you make available the Evaluation Materials to any Excluded Person, you will inform such Excluded Persons of the confidential nature of the Evaluation Materials and the existence and terms of this Agreement.

Please acknowledge your agreement to and acceptance of the foregoing by signing where indicated below and returning one (1) executed copy to our attention.

ACCEPTED AND AGREED effective as of , 2019.

PRINCIPAL BROKER

By:

Name:

Company:

Tel:

Email:

By:

Name:

Company:

Tel:

Email:

Mailing address: 205 E. Carrillo St., Ste. 100, Santa Barbara, CA 93101. Fax: 805.965.5300

Deliver to the attention of:

Aus tin Herlihy Executive Vice President805.879.9633

[email protected] Lic. 01518112

Steve B row n Principal & Founder 805.879.9607

[email protected] Lic. 00461986

C O N F I D E N T I A L I T Y A G R E E M E N T
mailto:sbrown%40radiusgroup.com?subject=Property%20Inquiry

premier investment opportunity 3905 state...san roque plaza santa barbara golf club five points...

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