315 Meigs Rd
Santa Barbara, CA 93109 West Mesa

$1,995,000 USD

General Retail For Sale • 10,745 SF

Property Details

Property Type General Retail
Total Building Size 10,745 SF
Lot Size 0.89 AC
Building Class B
Year Built 1961
Tenancy Multiple
Zoning CPR2S

40 Transit Score

50 Walk Score

                
                    Highlights
                
                                Sale consists strictly of a leasehold interest, not fee simple ownership.
                            
                                Long-term ground lease in place with options that may extend control through 2051.
                            
                                11.7% Cap Rate  |  NOI: $233,689.
                            
                                $5,000 rent increase at start of 2027.
                            
                                High-yield investment supported by fully stabilized, diversified tenancy.
                            
                                Located in one of Santa Barbara’s most desirable coastal neighborhoods with consistent tenant demand.