MLS® ID: 18-1914
515 State St
SANTA BARBARA, California, 93101 $4,250,000
Santa Barbara Trophy Single Tenant NNN Leased Investment! Prime State St Location with approximately 50' of frontage! Rare ''street to street'' 10,000 SF parcel with 17 parking spaces in rear accessed off of Fig St. The building consists of 4,120 square feet, beautifully remodeled in 2013, with recessed patio/bar and open ceiling plan. ADA compliant restrooms at time of construction and fire sprinklered. Excellent seasoned Tenant - Paxti's Pizza, with 17 locations. Over 5 years remaining on lease plus options. 4.20% Cap Rate on in place income plus annual increases.Value add potential with future additional development possibilities.