Investment Highlights
Executive Summary
This renovated historic building in the heart of downtown Santa Barbara provides an amazing opportunity for either owner-user or an investor. The two-level office portion features a mix of open space and private offices, kitchenette, conference room and second-floor balcony with lots of natural light and views overlooking State Street. The iconic restaurant space was renovated in 2022 and features an authentic pizza oven, expansive opening windows and doors to provide an indoor/outdoor dining experience, and a beautiful patio along State St. The restaurant is leased to the world renowned L? Antica Pizzeria Da Michele through mid-2032. Steps to local attractions like the Granada Theatre and Santa Barbara County Courthouse; a short drive to the beach, Funk Zone, Cottage Hospital and the harbor.Price: $4,865,000Cap Rate: 5% (pro forma)Size: Restaurant 2,508 SFOffice 4,256 SFTotal 6,764 SFLeases: L?Antica Pizzeria leased through May ?2032 Office available 2/1/24; call listing agent for rent rollLand Size: 5,663 SFAPN: 039-281-012Floors: TwoFire Sprinklers: Yes, throughoutParking: Public lots behind the property with first 75 minutes freeKitchen: Yes, office kitchenette and fully-equipped commercial kitchen in restaurantRestrooms: FourShowings: Call Listing Agents
