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509 State St

Santa Barbara, CA 93101
  • $3,495,000
  • STATUS: Active
  • ON SITE: 37 Days
  • MLS #: 21-4014
$3,495,000
  • 0
    BEDS
  • 0.11
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 3,278
    SQFT
  • $1,066
    $/SQFT
Neighborhood:
Type:
Commercial
County:

School Ratings & Info

Listing provided courtesy of Berkshire Hathaway Home Services California Properties.

Description

Great Investment Opportunity at 4 cap rate in the red hot 500 block of State St!!!. This beautifully remodeled building is leased to Pascucci restaurant w/ approximately 8 years remaining on an initial 10 year term. Building size is 2,824 SF plus 454 SF covered patio. 5 parking spaces in rear. Pascucci is a highly seasoned & successful operator w/ almost 30 years of presence in the Santa Barbara market! This Prime State St. location, in the heart of the State St pedestrian promenade has been a boon for businesses, allowing for street seating & great synergy from the surrounding food & beverage tenants + numerous hotels (including one under construction across the street) in the 5 block radius allowing for a highly diversified customer base of locals and tourists.

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© 2021 Santa Barbara Multiple Listing Service. All rights reserved. Based on information from the Santa Barbara MLS as of 2021-12-08T23:46:52.26. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Data last updated 2021-12-08T23:46:52.26.
www.theepsteinpartners.com/homes/122946441
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509 State St Santa Barbara, CA 93101

  • Price: $3,495,000
  • Status: Active
  • On Site: 37 Days
  • MLS #: 21-4014
0
Beds
0
Baths
0
½ Baths
0.11
Acres
3,278
SQFT
$1,066
$/SQFT
Neighborhood:
SB/West of State
County:
Santa Barbara
Area:
SB/West of State
Property Description
Great Investment Opportunity at 4 cap rate in the red hot 500 block of State St!!!. This beautifully remodeled building is leased to Pascucci restaurant w/ approximately 8 years remaining on an initial 10 year term. Building size is 2,824 SF plus 454 SF covered patio. 5 parking spaces in rear. Pascucci is a highly seasoned & successful operator w/ almost 30 years of presence in the Santa Barbara market! This Prime State St. location, in the heart of the State St pedestrian promenade has been a boon for businesses, allowing for street seating & great synergy from the surrounding food & beverage tenants + numerous hotels (including one under construction across the street) in the 5 block radius allowing for a highly diversified customer base of locals and tourists.
Interior Features

Heating Cooling A/C Central

Property Features

Condition Excellent Cross Street Haley Deposit 100000.00 For Sale Or Lease For Sale Gross Square Feet 3278.00 Income Expenses NOI 139890.00 Offices 1 Parking Reservd Retail 1 Terms Cash Total Bathrooms 2.00 Type Commercial Use Restaurant Zoning C-M

Listing information © 2021 Santa Barbara MLS
Listing provided courtesy of Berkshire Hathaway Home Services California Properties.



© 2021 Santa Barbara Multiple Listing Service. All rights reserved. Based on information from the Santa Barbara MLS as of 2021-12-08T23:46:52.26. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Data last updated 2021-12-08T23:46:52.26.
 
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Keller Williams
1503 Chapala Street
Santa Barbara CA, 93101
Listing provided courtesy of Berkshire Hathaway Home Services California Properties.