330STATE

STREET

SAN

TA B

ARB

ARA

FOR SALE

Kristopher Roth805.898.4361

kris@hayescommercial.comlic. 01482732

Steve Hayes805.898.4370

steve@hayescommercial.comlic. 00827640

Towering over State Street in a vital position connecting the Funk Zone to Santa Barbara’s downtown core, 330 State Street is located on the highly visible, signalized corner of Gutierrez and State. It consists of two parcels, maximizing development potential with 80% zone of benefit in a high-density overlay. Leases provide investors, developers or owner/users with immense opportunity to add significant value, develop additional square footage or housing, or re-position the property for owner occupancy. Short distances to the red-hot Funk Zone and the highly desirable coastline give this property widespread appeal.

Offering Price $6,475,000

Building Size 13,791 SF

Land Area 28,390 SF (.65 acre, two parcels)

Zoning M-C

APN 037-254-14 and -16

Tenants Fit Buddha Fitness and Casa Blanca Restaurant & Cantina

Occupancy Approx. 59%

Parking 27 on-site spaces and city lot across the street

Zone of Benefit 80%

Allowable Uses Restaurant, retail, office, hotel, residential

Frontage Approx. 100 SF along State, 275 SF along Gutierrez

AUD High-density, priority housing overlay (37-63 du/acre)

The information contained herein has been obtained from the owner of the property or from other sources deemed reliable. We have no reason to doubt its accuracy, but we do not guarantee i t. 5/22/20

330STATE

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TROPHY LOCATION...Perched on the signalized corner of two main arteries, this high-visibility property is the gateway from the waterfront and Funk Zone into the downtown core and vice versa. The State Street corridor is the natural focal point for the area’s 6.1 million annual visitors, brimming with world-renowned arts, dining, and shopping. And with over 70 high-tech companies located downtown, Santa Barbara is an ascendant tech hub, drawing on the highly-educated local population, while attracting top talent worldwide to work in one of the nation’s most sought-after coastal cities.

WITH ROOM TO MANEUVERThis two-parcel offering presents countless opportunities for an investor, developer or owner-user. The advantageous zoning and AUD priority housing overlay create a wealth of possibility for residential, commercial and/or hospitality development. Existing leases provide income, but also feature short-term leases for maximum flexibility to re-position or pursue development on any time frame.

The information contained herein has been obtained from the owner of the property or from other sources deemed reliable. We have no reason to doubt its accuracy, but we do not guarantee i t. 5/22/20

330STATE

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330STATE

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ARA330

STATESTREET

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Office/retail/restaurant | 5,452 SFVacantAvailable

Suite D Suite B/C Suite A Suite AFitness | 2,664 & 307 SFFit Buddha, officeSuite B rate: $2.43 NNNSuite B expires: 12/31/20

Suite C307 SF

Suite D5,452 SF

Suite A5,368 SF

Suite Apatio

Suite Apatio

Suite B2,664 SF

Restaurant | 5,368 SFCasa BlancaRate: $1.87 NNNExpires: 3/31/21

PatioCasa BlancaRate: Included in leaseExpires: 3/31/21

Parking | 27 spacesIncludes one ADA space; Shared among all tenants

GUTIERREZ STREET

STATE STREET

5/22/20The information contained herein has been obtained from the owner of the property or from other sources deemed reliable. We have no reason to doubt its accuracy, but we do not guarantee i t.

330STATE

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Project: No NameSize: 21 res. units and 3,200 sf commercialLand: 0.33 acresBuilt: 2019-2020

AUD Designation: 37-63Parking Zone of Benefit: 50%

Original Improvements: Previously improved with approximately 3,500 sf office/industrial building on one parcel

Asking Rents (Residential):Under construction – no rent information currently available

Project: Casa AnategaSize: 30 res. units and 5,600 sf commercialLand: 0.49 acresBuilt: 2019-2020

AUD Designation: 37-63Parking Zone of Benefit: 80%

Original Improvements: Previously improved with approximately 5,500 sf industrial building and single family residence on two parcels

Asking Rents (Residential):Studio Units - $2,950 to $3,000One Bedroom Units - $3,450 to $4,500Two Bedroom Units - $4,200 to $5,250

Project: The MarcSize: 89 res. units and 2,500 sf commercialLand: 1.43 acresBuilt: 2017

AUD Designation: 37-63Parking Zone of Benefit: 0%

Original Improvements: Previously improved with approximately 16,000 sf office building and 12 room motel on two parcels

Asking Rents (Residential):One Bedroom UnitsTwo Bedroom Units - $3,595 to $3,895Three Bedroom Units - $4,095

Based on the property’s size, zoning, and AUD Priority Hous-ing Overlay (37-63 Residential Units/Acre), the potential exists for a mixed-use project that could include residential condominiums, apartments, hotel, and/or more commer-cial improvements. Also, the vacant parking lot parcel has the potential to be developed independent of the improved parcel, and/or a strictly commer-cial development of the entire property may be pursued by a new owner. Buyer to verify the potential for development, but please see recent case studies of similar properties.

3885 STATE ST, SANTA BARBARA 414 CHAPALA ST, SANTA BARBARA

Highest density • 80% zone of benefitOn two parcels • Can add additional commercial SF

RECENT DEVELOPMENTS

Large-scale development

The information contained herein has been obtained from the owner of the property or from other sources deemed reliable. We have no reason to doubt its accuracy, but we do not guarantee i t. 5/22/20

634 ANACAPA ST, SANTA BARBARA

SUBJECT PROPERTY

Land: 0.65 acres

AUD: 37-63 Pot. Units: 41 based on AUDParking Zone of Benefit: 80%

Current Improvements: Approx. 13,791 sf commercial building on two parcels

330-336 STATE ST, SANTA BARBARA

330STATE

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The information contained herein has been obtained from the owner of the property or from other sources deemed reliable. We have no reason to doubt its accuracy, but we do not guarantee i t. 5/22/20

Arlington Theatre

AmazonGranada Theatre

Night Lizard

Invoca

Honey

Sonos

Apple Store

LogicMonitor

Institution Ale

SITE

Haley Hotel

Habitat Home & Garden

• Backyard Bowls• Hayward’s 1890 • Riviera Towl Co. • Chapala & Parker

• Lilly’s Taqueria • Santa Barbara RoCo • Chocolate Maya• Yoga Soup

The Hub

M Special

Shaker Mill

Modern Times

• Nordstrom • Express • Victoria’s Secret • See’s Candies • Lush • Pickles & Swiss • Gap • Panda Express • 805 Boba • Pressed Juicery

• Saje • Pizza Rev • Metro theater • Eureka! • T-Mobile • Foot Locker • Claire’s • AT&T• Bath & Body Works • ANGL

Paseo Nuevo Mall

STATE STREET & DOWNTOWN SANTA BARBARAAt the heart of Santa Barbara lies State Street, dense with countless options for food and drink, shopping, and entertainment. Stretching the entire length of downtown and eventually turning into Stearns Wharf, State Street serves as the re-tail hub and most sought-after tourist attraction in the city. Within a few blocks of the subject property, new beer and cocktail destinations have recently sprouted, like Modern Times and Shaker Mill.

SOUTH COAST TECHNOLOGY HUBDubbed “Techtopia” by CNBC, Santa Barbara is loaded with internet companies and start-ups, many of which have spun out of UCSB research teams. Technology companies have become an increasingly significant presence in downtown Santa Barbara. Amazon, Sonos, Invoca, Honey Science, and LogicMonitor have all estab-lished large “creative” offices fronting or within a block of State Street.

• REI• SB Rock Gym

• Dawn Patrol• Variant Training Lab

The Andalucia Building

330STATE

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The information contained herein has been obtained from the owner of the property or from other sources deemed reliable. We have no reason to doubt its accuracy, but we do not guarantee i t. 5/22/20

• BlueWater Grill• Topa Topa • Lama Dog • The Nook• Brass Bear • Municipal Wines • Corks & Crown• Figueroa Mountain

• The Lark • The Lucky Penny • Oku Restaurant • Area 5.1 • Helena Bakery • Loquita Restaurant• Test Pilot• SB Winery

The Funk Zone

• Backyard Bowls• Hayward’s 1890 • Riviera Towl Co. • Chapala & Parker

• Lilly’s Taqueria • Santa Barbara RoCo • Chocolate Maya• Yoga Soup

The Hub

• REI• SB Rock Gym

• Dawn Patrol• Variant Training Lab

The Andalucia Building

Hotel Californian

Habitat Home & Garden

Invoca

Shaker Mill

Modern Times

SITE

Captain Fatty’sCorazon Cucina

THE FUNK ZONEGenerally defined by State Street to the west, Highway 101 to the north, Garden Street to the east, and the ocean to the south, the Funk Zone has historically been an industrial area. As time has passed and manufacturing waned, it has become a haven for the city’s artists and artisans. This unique history, combined with its prime location adjacent to both the beach and State Street, has re-cently attracted an influx of investment and new tenants including wine tasting rooms, restaurants, tech companies, and art galleries.

THE URBAN WINE AND ALE TRAILSWith 35,000 tourists on average every day, the area has become a thriving hub for beer and wine. Santa Barbara’s Urban Wine Trail brings heavy traffic – by train, bike and foot – into the Funk Zone and Laguna District where patrons can choose from over 15 wineries within 3 blocks of the subject property. The area is also making a name for itself in the beer world, with a rich collection of tap rooms and breweries along the Ale Trail and “Beer Mile.” Within a few blocks of the subject property, new beer and cocktail destinations have recently sprout-ed, like Modern Times and Shaker Mill.

330STATE

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3793 STATE ST, SANTA BARBARA

Size: 9,900 SF on 19,602 SFPrice: $5,750,000 ($581 psf)Deal Date: 1/25/17Parking: 2.0ZOB: 50%AUD: 15-27Excess Land: None

Size: 8,683 SF on 3,049 SFPrice: $4,205,000 ($484 psf)Deal Date: 8/28/19Parking: 0ZOB: 20%AUD: 15-27Excess Land: None

Size: 12,746 SF on 25,425 SFPrice: $6,300,000 ($494 psf)Deal Date: 10/11/19Parking: 3.2ZOB: 25%AUD: 37-63Excess Land: None

Size: 9,526 SF on 13,939 SFPrice: $7,270,000 ($763 psf)Deal Date: 1/13/17Parking: 0ZOB: 0%AUD: NoneExcess Land: None

Size: 6,627 SF on 4,920 SFPrice: $4,000,000 ($604 psf)Deal Date: 10/16/17Parking: 0ZOB: 5% & 80%AUD: 37-63Excess Land: None

Size: 7,956 SF on 9,583 SFPrice: $8,625,000 ($1,084 psf)Deal Date: 8/29/17Parking: 0ZOB: 15%AUD: 15-27Excess Land: None

M I R A M A R M A N AG E M E N T · 7 01 A N AC A PA ST R E ET, S U IT E D, SA N TA BA R BA R A , C A 9 3 101 · W W W. M I R A M A RS B. C O M

JO E C O R A Z Z A · O F F I C E : 8 0 5 - 2 3 3 - 7 9 8 8 · D I R E C T: 8 0 5 - 7 2 9 - 5 0 0 3 · JO E @ M I R A M A R S B . C O M · C A L I C . N O. 019 2 6 16 8

F O R L E AS E · 7 01 A N AC A PA ST R E E T · N E W O P E N C O N C E P T F & B / R ETA I L · + / - 5 6 2 - 3 , 8 4 6 S F · $ 4 / S F

The information contained herein has been obtained from the owner of the property or from other sources deemed reliable. We have no reason to doubt its accuracy, but do not guarantee it.

506 CHAPALA ST, SANTA BARBARA 430 CHAPALA ST, SANTA BARBARA112 E VICTORIA ST, SANTA BARBARA

29 E CABRILLO BLVD, SANTA BARBARA 701 ANACAPA ST, SANTA BARBARA800 STATE ST, SANTA BARBARA

COMPARABLES SUBJECTCOMP AVERAGES9,240 SF

12,753 SF

$668

0.9

30%

The comparables have either the same or lower AUD density potential than the subject property.

None of the comparables offer excess land.

13,791 SF

28,390 SF

$470

2.0

80%

37-63, which is highest density allowable by City and those presented by the comps.

Yes

Bldg Size

Land Size

Price PSF (Bldg)

Parking

ZOB

AUD

Excess Land

The subject property holds the advantage in every relevant metric.

The information contained herein has been obtained from the owner of the property or from other sources deemed reliable. We have no reason to doubt its accuracy, but we do not guarantee i t. 5/22/20

330STATE

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3793 STATE ST, SANTA BARBARA

Size: 18,792 SF on 19,167 SFPrice: $14,350,000 ($764 psf)Parking: 0.8ZOB/AUD: 50%, 37-63Excess Land: None

Size: 4,120 SF on 10,019 SFPrice: $4,500,000 ($1,092 psf)Parking: 4.8ZOB/AUD: 100%, 15-27Excess Land: Yes

Size: 48,564 SF on 11,326 SFPrice: $38,400,000 ($791 psf)Parking: 0ZOB/AUD: 100%, 15-27Excess Land: Yes

Size: 4,285 SF on 12,196 SFPrice: $4,350,000 ($1,015 psf)Parking: 1.0ZOB/AUD: 0%, NoneExcess Land: None

Size: 5,200 SF on 5,227 SFPrice: $2,850,000 ($548 psf)Parking: 0ZOB/AUD: 0%, 37-63Excess Land: None

Size: 5,740 SF on 6,534 SFPrice: $4,295,000 ($748 psf)Parking: 0ZOB/AUD: 0%, NoneExcess Land: None

502 haleySa n t a Ba rba ra , CA

530 CHAPALA ST, SANTA BARBARA 515 STATE ST, SANTA BARBARA1001 STATE ST, SANTA BARBARA

32 ANACAPA ST, SANTA BARBARA 502 E HALEY ST, SANTA BARBARA225 STATE ST, SANTA BARBARA

CURRENTLY AVAILABLE SUBJECTAVAIL. AVERAGES14,450 SF

10,745 SF

$826

1.1

21%

Generally, these comparables have either the same or less AUD potential than the subject property.

Most comparables listed have no excess land.

13,791 SF

28,390 SF

$470

2.0

80%

37-63, which is highest density allowable by City and those presented by the comps.

Yes

Bldg Size

Land Size

Price PSF (Bldg)

Parking

ZOB

AUD

Excess Land

The subject property holds the advantage in every relevant metric.

The information contained herein has been obtained from the owner of the property or from other sources deemed reliable. We have no reason to doubt its accuracy, but we do not guarantee i t. 5/22/20

330STATE

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SAN

TA B

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ARA

The property information included this Offering Memorandum (“Memorandum”) is provided for the sole purpose of evaluating the possible acquisition of 330 State St, Santa Barbara, California (“Property”) and is not to be used for any other purpose. Hayes Commercial Group (“HCG”) has been engaged by the owner of the property to market it for sale. Information concerning the property described herein has been obtained from sources other than HCG, and neither Owner nor HCG, nor their respective equity holders, shareholders, officers, employees and agents makes any representations or warranties, express or implied, as to the accuracy or completeness of such information. Any and all reference to age, square footage, income, expenses and any other property-specific information is approximate. Any opinions, assumptions, or estimates contained herein are projections only and used for illustrative purposes and may be based on assumptions or due diligence criteria different from that used by a purchaser, and HCG, its partners, shareholders, officers, employees and agents disclaim any liability that may be based upon or related to the information contained herein. Due to the foregoing and since the Property will be sold on an “As Is, Where Is” basis; a prospective purchaser must make its own independent investigations, projections, and conclusions regarding the acquisition of the Property without reliance on this Memorandum. Although additional Confidential Information, which may include engineering, environmental, or other reports, may be provided to qualified parties as marketing proceeds, prospective purchasers should seek advice from their own attorneys, accountants, engineering, environmental, and other experts. The information contained herein is subject to change.

330STATE

STREET

SAN

TA B

ARB

ARA

FOR SALE

The information contained herein has been obtained from the owner of the property or from other sources deemed reliable. We have no reason to doubt its accuracy, but we do not guarantee i t. 5/22/20

Kristopher Roth805.898.4361kris@hayescommercial.comlic. 01482732

Steve Hayes805.898.4370steve@hayescommercial.comlic. 00827640