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    509 State

    Santa Barbara, CA 93101
    • $3,495,000
    • STATUS: Active
    • ON SITE: 108 Days
    • MLS #: 21-2407
    UPDATED: 44 min ago
    $3,495,000
    • 0
      BEDS
    • 0.11
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Commercial
    County:

    School Ratings & Info

    Listing provided courtesy of Berkshire Hathaway Home Services California Properties.

    Description

    Single Tenant NNN Leased Investment in the red hot 500 block of State St!!! The Premises consists of a fully equipped 2,824 SF restaurant bldg., plus a 454 SF covered patio & 5 parking spaces in rear (possible residential addition). The lease has 8 1/2 years remaining w/ annual CPI increases. The tenant is highly seasoned & successful operator w/ almost 30 years of presence in the Santa Barbara market, and has paid 100% of rent during the pandemic. The Tenant relocated to this location about 18 months ago from their former space of about 20 years, which reduced their rent by about 50% while increasing sales significantly. The newly created State St pedestrian promenade has created a platform for locals & tourists to come together for a variety of exciting food & beverage experiences!!

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    © 2021 Santa Barbara Multiple Listing Service. All rights reserved. Based on information from the Santa Barbara MLS as of 2021-10-15T19:46:57.26. 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 2021-10-15T19:46:57.26.
    www.theepsteinpartners.com/homes/118807439
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    509 State Santa Barbara, CA 93101

    • Price: $3,495,000
    • Status: Active
    • Updated: 44 min ago
    • MLS #: 21-2407
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.11
    Acres
    Neighborhood:
    SB/West of State
    County:
    Santa Barbara
    Area:
    SB/West of State
    Property Description
    Single Tenant NNN Leased Investment in the red hot 500 block of State St!!! The Premises consists of a fully equipped 2,824 SF restaurant bldg., plus a 454 SF covered patio & 5 parking spaces in rear (possible residential addition). The lease has 8 1/2 years remaining w/ annual CPI increases. The tenant is highly seasoned & successful operator w/ almost 30 years of presence in the Santa Barbara market, and has paid 100% of rent during the pandemic. The Tenant relocated to this location about 18 months ago from their former space of about 20 years, which reduced their rent by about 50% while increasing sales significantly. The newly created State St pedestrian promenade has created a platform for locals & tourists to come together for a variety of exciting food & beverage experiences!!
    Property Features

    Condition Excellent Cross Street Haley Deposit 100000.00 For Sale Or Lease For Sale Income Expenses NOI 139884.00 Offices 1 Parking Pub/LotReservd 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 2021-10-15T19:46:57.26. 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 2021-10-15T19:46:57.26.
     
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    Keller Williams
    1503 Chapala Street
    Santa Barbara CA, 93101
    Listing provided courtesy of Berkshire Hathaway Home Services California Properties.