3761 State St - Freestanding FOR SALE


Santa Barbara, CA 93105- North State
$57,500,000 USD
310-996-2217
3761 State St, Santa Barbara, CA for Sale
$57,500,000 USD
Freestanding - FOR SALE
1/7
null | Request Cap Rate

3761 State St
Santa Barbara, CA 93105
North State


HIGHLIGHTS

  • $3.5M interior renovation completed in 2022; exterior updated in 2023
  • Located on State Street with direct access to Highway 101 and Downtown
  • Serves high-income communities with $150K+ average household income in a 3-mile radius

OVERVIEW

Positioned on the most traveled street in Santa Barbara, this flagship Whole Foods Market offers unmatched visibility, access, and prestige. The property underwent a $3.5 million interior renovation in 2022 followed by a full exterior upgrade in 2023, delivering a refreshed and modern retail experience. Located less than five minutes from the 101 Freeway and under ten minutes to Downtown Santa Barbara, the site benefits from high traffic counts and proximity to affluent neighborhoods including Montecito, Hope Ranch, and Goleta. With 178 on-site parking spaces and a corporate-guaranteed lease, this single-tenant asset is the only Whole Foods serving Santa Barbara County. The property is zoned Commercial Restricted (C-R) and sits adjacent to a proposed 680-unit mixed-use redevelopment, further enhancing its long-term value and positioning. Whole Foods generates approximately $1,500 PSF in sales, underscoring its strength as a retail anchor in one of California’s most desirable coastal markets.

FOR SALE DETAILS

PRICE

$57,500,000 USD

PRICE/SF

$1,924 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Whole Foods

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1970

SPRINKLERS

-

PARKING SPACES

178

LAND DETAILS

LAND ACRES

1.9 AC

LAND SF

82,764 SF

ZONING

Commercial Restricted

APN/PARCEL ID

051-040-052,051-040-053

ASK ABOUT THIS PROPERTY

Tanel HarunzadeKidder MathewsMore Info
310-996-2217

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Tanel HarunzadeKidder MathewsMore Info
310-996-2217

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