Hayes Commercial Group brochure v2...PHOTOS Fantastic views of the theater district and mountains Fountain courtyard Rear of building faces parking lot From third floor walkway Shell

222 E. Carrillo Street, Suite 101, Santa Barbara, California 93101 | HayesCommercial.com

Co-listed with

Stuart [email protected]. 00859105

PRICE REDUCTIONOWNER HAS INITIATED CONDO MAP PROCESS

OWNER BUILDING OUT SUITE 102

29 W ANAPAMU ST, SANTA BARBARA, CA | 1,481 - 18,776 SQUARE FEETFOR SALE OR LEASE | OFFICE / MEDICAL BUILDING IN THE CENTER OF DOWNTOWN SANTA BARBARA

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. 3/2/20

Francois [email protected]. 01144570

Kristopher [email protected]. 01482732


Co-listed with


The Grayson Building was built in 1985 and substantially upgraded in 2018-2019. The building features an elevator serving five floors and an inviting interior courtyard with a large fountain, overlooked by dramatic wraparound balconies. Renovations include new front and rear building facades, and most major physical systems have been replaced or upgraded. Its layout easily accommodates a larger company for its corporate head-quarters, a smaller company to occupy a portion of the building and lease the rest, or an investor to purchase and tenant the suites and basement at market rents. Ideally located in the vibrant downtown arts and entertainment district. Offered for sale or for lease.

Address: 29 W Anapamu St, Santa Barbara

Offering: Entire Building $7,950,000 ($423 psf )

Condos Floor Size Price 101 First 2,073 SF $1,245,000 102 First 1,633 SF $1,150,000 201 Second 2,254 SF $1,265,000 202 Second 2,009 SF $1,130,000 301 Third 2,254 SF $1,130,000 302 Third 2,009 SF $1,160,000 Penthouse Fourth 1,481 SF $895,000 Basement Basement 5,063 SF $1,265,000 Total 18,776 SF

For Lease: $2.55 NNN (.51) on office, $1.00 NNN (.51) on basement

Site area: 6,678 SF (.15 acres)

Year built: 1985, significant remodel in 2018/2019

Systems: CMU block wall construction, 1200 Amp electrical service, new tile roof, replaced HVAC, elevator modernized, bathrooms remodeled, new windows, new skylights, replaced drainpipes, structural improve-ments, courtyard resurfaced, new exterior stucco and paint, new balconies, and a new fountain. Building is being offered in its white shell condition awaiting the new owner or tenant buildout.

Elevator: Yes, serving all floors including basement

Sprinklers: Throughout

Zoning: C-G (General Commercial)

Parking: 100% Zone of Benefit. Four public parking lots and private parking lots available within one block.

CSO: 2%

PROPERTY SUMMARY





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PHOTOS

Fantastic views of the theater district and mountains

Fountain courtyard

Rear of building faces parking lot From third floor walkway

Shell interior with exposed-beam ceilings holds massive potential





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FIRST FLOOR PLANS (3,706 sf total)

CURRENT LAYOUT CONCEPTUAL LAYOUT

Suite Square Feet101 2,073 SFGround floor facing Anapamu Street

102 1,633 SFGround floor facing south, Chapala Street and parking lot

Common

ANAPAMU ST

RRRR

Elev.Elev.

Elec.Elec.

RRRR





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SECOND FLOOR PLANS (4,263 sf total)


Suite Square Feet201 2,254 SFSecond floor, French doors with balconies facing Anapamu Street

202 2,009 SFSecond floor with balconies facing south, Chapala Street and parking lot

Common

ANAPAMU ST

RRRR

Elev.Elev.

RRRR





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THIRD FLOOR PLANS (4,263 sf total)


Suite Square Feet301 2,254 SFThird floor, new skylights and windows facing Anapamu Street

302 2,009 SFThird floor with vaulted ceilings and new skylights and windows facing south, Chapala Street and parking lot

Common

ANAPAMU STANAPAMU ST

RRRR

Elev.Elev.

RRRR





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FOURTH FLOOR PLANS (1,481 sf total)


Suite Square FeetPenthouse 1,481 SFFourth floor, plumbing stubbed-for new private restroom, new skylights and windows facing Anapamu Street

Common

ANAPAMU ST

Elev.

Mechanical Mechanical

Elev.





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BASEMENT FLOOR PLANS (5,063 sf total)

CONCEPTUAL LAYOUTCURRENT LAYOUT

Space Square FeetBasement 5,063 SF

Common

ANAPAMU ST

RRRR

Elev.Elev.

RRRR





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Anapamu St

Victoria

St

Sola St

Anacapa St

Santa Barbara St

Carrillo

St

Figuero

a St

SITE

P

PP

P

P

P

P

P

P

P

P

Public lots for visitors (75 mins free)

Private lots for users (spaces for lease)

All-day street parking

State St

Chapala St

De La Vina St

Bath St

PARKING MAP





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COMPARABLE SALES (ENTIRE BUILDING)

1019-1021 Chapala St, officePrice: $3.075 million

Bldg: 6,300 sfPrice per sf: $488 psf

Sale Date: 4/18/18Condition: Needed complete remodel

125 E Victoria St, officePrice: $3.8 million


Sale Date: 9/13/19Condition: Needed upgrades and

building system replacement

430 Chapala St, officePrice: $4.205 million


Sale Date: 8/27/19Condition: Buyer obligated to

$15 psf in TI’s to new tenant

2323 Oak Park Ln, medicalPrice: $6.25 million


Sale Date: 7/12/19Condition: Good

221-225 W Pueblo St, medicalPrice: $6.65 million

Bldg: 8,037 sfPrice per sf: $827 psfSale Date: 10/02/18

Condition: Good

AveragePrice per sf:

$613

1 2 3 4 5

1

24

3

29 W Anapamu StPrice per sf:

$423

5





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PROFORMA INCOME ANALYSIS (ENTIRE BUILDING)

Floor/Unit SquareFeet BaseRentpsf OperatingExpensepsf MonthlyGrossRentsBasement 5,063 $1.00 $0.70 $8,617101-Penthouse 13,713 $2.67 $0.70 $46,240

Totals: 18,776 $54,857

PerSquareFoot AnnualProjectedGrossIncome: $2.92 $658,281PropertyTaxes: BasedonAskingPrice ($0.45) ($100,417)PropertyInsurance: Seller'sestimate ($0.03) ($7,311)OperatingExpenses: Seller'sestimate ($0.08) ($17,417)Management: 5%ofgrossrents ($0.15) ($33,015)LessVacancy&Reserves 3% ($0.09) ($19,748)

ProjectedNOI $2.13 $480,372

PriceAnalysis

PurchasePrice $8,850,000pricepersf $471

CoststoStabilize Notes PerSquareFoot TotalBuildingTIA(1stFl-Penthouse) $40psfestimatebasedonrecentleasesofshellbldgs $29 $548,520TIA(Basement) $10psfestimate $3 $50,630Bathroooms $15kperbath/5bathrooms $4 $75,000RentLoss 6months $18 $329,140Brokerage 3yrs@6% $5 $90,022

Totals $58 $1,093,312

StabilizedCost $9,943,312pricepsf(bldg) $530stabilizedcaprate 4.83%





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SITE

ARTS & ENTERTAINMENT DISTRICTSanta Barbara’s arts & entertainment district is the cultural heart of downtown, encompassing historic theaters, performance venues, the art museum, and the library. The Santa Barbara County Courthouse – itself a National Historic Landmark – is also in this district and hosts summer dance and film events on its scenic grounds. The Santa Barbara Public Market is a contemporary urban marketplace offering locally & regionally sourced food, wine, and beer. Brimming with old-world charm, La Arcada is an outdoor mall filled with top-notch restaurants, galleries and boutique-style retailers.

AREA OVERVIEW

Paseo Nuevo

Lobero Theatre

La Arcada

Public Market

The New Vic Theatre

County Courthouse

SB Museum of Art

Arlington Theatre

Granada Theatre


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THE NEIGHBORHOOD




Arts & Entertainment• The Granada Theatre

• The Arlington Theatre

• The Lobero Theatre

• Santa Barbara Art Association

• Arts Commission

• Santa Barbara Center for the Performing Arts

• Santa Barbara Symphony

• Opera Santa Barbara

• Ensemble Theatre Company

• SOhO Restaurant and Music Club

• Santa Barbara Museum of Art

• The Painted Cabernet

• Sullivan Goss Gallery

Dining• Arigato Sushi

• Benchmark Eatery

• Brasil Arts Cafe

• Ca’Dario

• Carlito’s

• Jane

• Milk & Honey

• Corazon Cucina

• Olio e Limone

• Opal

• Renaud’s

• Sama Sama Kitchen

• Scarlett Begonia

• The Daisy

ARTS & ENTERTAINMENT DISTRICT

Located in the heart of downtown Santa Barbara’s arts & entertainment district, the subject property is central to numerous businesses, restaurants, and entertainment venues.

Nearby, the Santa Barbara Public Market is a complex of eateries that embrace local, sustainable food practices. La Arcada, two blocks from Alma del Pueblo, is an outdoor mall filled with top-notch restaurants and boutique-style retailers.

Nearby venues are numerous, with the Arlington, Granada, and New Vic Theaters, SOhO and the Santa Barbara Museum of Art are within a few blocks.

Also within easy reach is Santa Barbara’s Business District, located around the Santa Barbara Courthouse, which is dense with local and corporate businesses, law and financial firms.

DOWNTOWN

With 35,000 tourists on average in the city every day, the downtown area is a thriving commercial hub far more cosmopolitan than Santa Barbara’s population count would suggest. Business, shopping, arts, dining and leisure all intersect downtown, with sandy beaches at its doorstep and a backdrop of rugged coastal mountains.

The subject property is within a block of State Street and walking distance to virtually all downtown amenities, which provides a “lifestyle” benefit to tenants and their employees.


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SANTA BARBARAOVERVIEW

LOCATION. The city is 90 miles north of Los Angeles and 330 miles south of San Francisco and is served by the Santa Barbara Airport and Amtrak. Tucked between the Santa Ynez Mountains and the Pacific Ocean, Santa Barbara enjoys a mild, Mediterra-nean climate averaging 300 sunny days a year. Santa Barbara’s beaches, parks and mountains provide a playground for a wide array of activities enjoyed by residents and visitors alike.

CULTURE. The city’s history is evident in its Spanish architecture, emanating from the majestic Mission Santa Barbara. The downtown is brimming with restaurants, theaters, museums and hosts an international film festival. Wine lovers can sample the Urban Wine Trail downtown or take a short drive to the world-class vineyards of Santa Ynez Valley.

ECONOMY. Renowned internationally for its fine restaurants, shopping, hotels and architecture, the tourism industry is the re-gion’s main economic driver. In addition, the city economy includes a large service sector, education, technology, health care, finance, agriculture, manufacturing and local government. Education in particular is well-represented with several world-class higher learning institutions including the University of California, Santa Barbara (23,000 students), Santa Barbara City College (12,000 students), Westmont College (1,200 students), and Antioch University.

DEMOGRAPHICS.2019 Estimated Population 92,034 2019 Estimated Households 36,7782019 Median Age 38.2 2019 Est Avg Household Income $115,737

TOURISM.Annual Tourists 7.2 million Annual Tourism Dollars $1.9 billion





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SANTA BARBARAATTRACTIONS

Tucked between the Santa Ynez Mountains and the Pacific Ocean, Santa Barbara offers much more than its renowned beaches and cuisine. The “American Riviera” is a diverse playground for a wide array of sights and activities enjoyed by residents and visitors alike.

RETAIL HOTELS

EDUCATIONENTERTAINMENT

PASEO NUEVOAn outdoor shopping mall anchored by Nordstrom, American Eagle, Victoria’s Secret, and Gap as well as a number of local and regional retailers. Stunning Spanish architecture, convenient underground parking, and a wide selection of eateries.

THE PUBLIC MARKETContemporary urban marketplace offering lo-cally and regionally sourced food, wine, and beer, nestled in the thriving performing and cultural arts district of downtown Santa Barbara.

STATE STREETAt 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 retail hub and most sought-after tourist attraction in the city.

HOTEL CALIFORNIAN Featuring Spanish Colonial Revival architecture, the Hotel Californian is the new center of the Santa Bar-bara waterfront. This 121-room seaside destination features a rooftop pool and event deck providing panoramic views of the coastline and mountains.

ROSEWOOD MIRAMARResidential exclusivity inspires the resort’s 124 rooms and 37 suites. Scattered across 16 acres of rolling lawns and lush landscaping, the spacious, thoughtfully furnished luxury accommodations are the epitome of modern beach living.

THE BILTMORE, FOUR SEASONSTucked between the Pacific Ocean and the Santa Ynez Mountains sits this iconic hideaway on the American Rivieria, where celebrities come to play. Set within 22 lush acres, the Spanish Colonial villas and bungalows invoke casual 1930s glamour.

UNIVERSITY OF CALIFORNIA, S.B.UCSB is a public institution founded in 1909. It has a total undergraduate enrollment of 24,346, its setting is suburban, and the campus size is 989 acres. Boasting six nobel laureates on faculty, UCSB is integral to the Goleta community and its largest employer.

WESTMONTFounded in 1937, Westmont is an interdenomina-tional Christian liberal arts college in Montecito, Santa Barbara’s closest neighbor. The Templeton Foundation has recognized Westmont as one of the nation’s top 100 colleges committed to character development.

SANTA BARBARA CITY COLLEGESanta Barbara City College is a comprehensive community college serving the south coast of Santa Barbara County, established in 1909.

SANTA BARBARA BOWL The Santa Barbara Bowl is a 4,562-seat amphi-theater carved into the hillside, hosting about 30 concerts per season.

THE ARLINGTON THEATREThe Arlington Theatre is the largest movie theater and principal performing arts venue in Santa Barbara. In addition to regular screenings, it is home to many events associated with the annual Santa Barbara International Film Festival. Located on State Street, the Arlington was built in 1931 on the former site of the Arlington Hotel.

THE GRANADA THEATREThe Granada Theatre recently underwent a monu-mental restoration and nearly eighty-four years af-ter first opening its doors, this legendary entertain-ment palace has returned to life as the crown jewel of Santa Barbara’s historic cultural district.




Documents

Hayes Commercial Group brochure v2...PHOTOS Fantastic views of the theater district and mountains Fountain courtyard Rear of building faces parking lot From third floor walkway Shell