422 N Milpas St 4,300 SF 50% Leased Office Building Santa Barbara, CA 93103 $2,477,754 CAD ($576.22 CAD/SF)

Positioned along one of the most active commercial corridors in Santa Barbara, 422 N Milpas Street presents a rare opportunity to acquire a versatile retail/office asset with strong fundamentals and long-term upside. Situated on a ±10,890 SF lot (±0.25 acres), the property consists of a well-located street-front building totaling approximately ±4,300 SF, offering flexible configurations for retail, office, or service-oriented uses.
Strategically located along Milpas Street—Santa Barbara’s primary Eastside commercial artery, the property benefits from consistent foot traffic, high visibility, and immediate proximity to dense residential neighborhoods, schools, and local amenities. The corridor serves as a key connector between Downtown Santa Barbara and the coastal waterfront, making it a highly sought-after location for both owner-users and investors.
Zoned C2 (General Commercial), the site allows for a wide range of permitted uses and presents a compelling value-add or redevelopment opportunity. The existing improvements, combined with on-site parking and strong street frontage, create immediate usability, while the underlying land value supports future repositioning or development strategies.
With Santa Barbara’s limited inventory, high barriers to entry, and consistent demand for well-located commercial assets, 422 N Milpas stands out as a unique opportunity to secure a foothold in one of Southern California’s most desirable coastal markets.