1209-1201 De La Vina St

• Signalized hard corner at De La Vina Street and West Anapamu Street, two blocks from State Street (±30,000 VPD) and immediately accessible to US-101 (±135,000 VPD).
• Severe barriers to new supply: Santa Barbara’s strict growth controls, historic design review, and effectively built-out downtown core have constrained new commercial development for decades, supporting long-term occupancy and rent growth.
• Surrounded by downtown’s employment and retail core — Amazon’s corporate office (±275 employees), Green Hills Software (±270 employees), Paseo Nuevo (Apple, REI, Cost Plus World Market), the Santa Barbara Museum of Art, the County Courthouse, and Santa Barbara City College (±26,400 students, ±11,300 employees).
• Exceptional demographics: ±31,153 residents within one mile and ±90,058 within three miles, with average household income of $107,259 (1-mile) and $134,051 (3-mile); citywide median household income exceeds $100,000, ±29% above the national average.
• ±29% of GLA on month-to-month tenancy (±2,651 SF across five suites generating $92,978, or 34% of in-place rent) — an incoming owner can reset these rents to market immediately without waiting on lease expirations.
• Wide in-place rent spread signals upside: suites currently range from $25.36 to $41.05 PSF annually against a $30.49 PSF blended average, establishing an in-building benchmark for pushing below-market suites
• Balanced roll schedule — 58% of GLA is secured through 2027–2029, pairing stability with staggered opportunities to capture rent growth.
• 100% leased to 10 tenants – across ±9,065 SF — day-one cash flow with no lease-up risk.
• Highly diversified rent roll with no tenant occupying more than 21.3% of GLA; the largest tenant contributes just 17.7% of in-place rent, materially reducing single-tenant credit exposure.
• Modified gross lease structure with $31,207 (+$3.44 PSF) of Year 1 expense reimbursements, providing partial protection against operating expense inflation with room to expand recoveries at renewal or end of lease term.