3609-3617 State St - Storefront FOR SALE


Santa Barbara, CA 93105- North State
$6,750,000 USD
818-424-1031
3609-3617 State St, Santa Barbara, CA for Sale
$6,750,000 USD
Storefront - FOR SALE
1/3
null | 5.16% Cap Rate

3609-3617 State St
Santa Barbara, CA 93105
North State


HIGHLIGHTS

  • Premier, well-maintained retail center located in the preferred Upper State Street trade area within the exclusive San Roque neighborhood.
  • 100% occupied, stabilized, cash-flowing asset with long-term, service-oriented tenants, many of whom have operated in the center for 20–40 years.
  • Surrounded by high-end residential communities, including multi-million-dollar homes, supported by superior demographics.
  • The area is revitalizing with two major proposed residential projects: the 443-unit La Cumbre South and the 642-unit State and Hope developments.
  • Highly accessible location with direct proximity to the 101 Interstate Highway and strong visibility.
  • Attractive future upside potential driven by redevelopment activity, strong tenant demand, and continued market growth.

OVERVIEW

Notes: 1. Year built is approximate and should be verified by the buyer. 2. Tenants must not be disturbed under any circumstances. We are pleased to offer for sale an exceptional multi-tenant investment opportunity in the highly desirable Santa Barbara San Roque neighborhood. The tenants benefit from a “perfect storm” of strong business factors, including a vibrant, high-income local customer base reflected by the upscale adjacent hillside homes, consistent high traffic counts, and the advantages of being located in a premier, high-end trade area, supported by the presence of prestigious grocery stores such as Whole Foods, Gelson’s, and Bristol Farms. The center features a complementary mix of businesses, including home improvement, restaurants, personal high-tech devices, financial services, and wellness/beauty services. Ontare Plaza benefits from a synergistic mix of national and local tenants, including Baskin Robbins, T-Mobile, Ace Cash Express, longtime restaurateurs Rudy’s and Kaz To Go, as well as local staples Sleep Shoppe, TriCounty Blinds, and Salt Salon. Many tenants have established long-term roots at Ontare Plaza, fostering strong loyalty from the local community. Over half of the tenants have operated at the location for more than 13 years, with Baskin Robbins serving as a community fixture for over 30 years and Rudy’s Mexican Restaurant for nearly 40 years. Tenant stability has been a hallmark of Ontare Plaza. The San Roque area has consistently been a highly desirable and strong-performing business location. The Upper State Street corridor is an affluent, supply-constrained pocket of the city, characterized by established households, strong discretionary spending, and long-term residential stability.

FOR SALE DETAILS

PRICE

$6,750,000 USD

PRICE/SF

$634 USD /SF

CAP RATE

5.16%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Ontare Plaza

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1958

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.56 AC

LAND SF

24,394 SF

ZONING

C-P/S-D-2

APN/PARCEL ID

051-051-005,051-051-006

ASK ABOUT THIS PROPERTY

Richard KarzenRE/MAX One CommercialMore Info
818-424-1031

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Richard KarzenRE/MAX One CommercialMore Info
818-424-1031

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.