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508 W Main St 8,887 SF 100% Leased Retail Building Santa Maria, CA 93458 For Sale
Investment Highlights
- 6 Units Across 3 Buildings
- 100% Leased
Executive Summary
Lee & Associates Central California is pleased to present a 100% leased multi-tenant retail investment located at 508–518 West Main Street in Santa Maria. The property consists of ±9,122 SF and six units, currently generating $169,418 in annual gross income.
This offering presents a good value-add opportunity, with in-place rents averaging approximately $1.55/SF/month ($18.57/SF/year) providing immediate upside through increases of the under-market rents. 5 of 6 leases expire on August 31, 2026, with one unit operating on a month-to-month basis, allowing for near-term repositioning and rental growth.
This is a good opportunity for value-add investors and 1031 exchange buyers seeking stable in-place income with clear upside through lease rollover and strategic repositioning in the largest city in Santa Barbara County.
This offering presents a good value-add opportunity, with in-place rents averaging approximately $1.55/SF/month ($18.57/SF/year) providing immediate upside through increases of the under-market rents. 5 of 6 leases expire on August 31, 2026, with one unit operating on a month-to-month basis, allowing for near-term repositioning and rental growth.
This is a good opportunity for value-add investors and 1031 exchange buyers seeking stable in-place income with clear upside through lease rollover and strategic repositioning in the largest city in Santa Barbara County.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
8,887 SF
Building Class
C
Year Built
1990
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.41
Lot Size
0.50 AC
Opportunity Zone
Yes
Zoning
C-2
Fairly walkable
50/100
Very drivable
80/100
Limited public transit
30/100
Fairly bikeable
50/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 123-034-013 | Improvements Assessment | $893,041 CAD |
| Land Assessment | $445,538 CAD | Total Assessment | $1,338,579 CAD |
Property Taxes
Parcel Number
123-034-013
Land Assessment
$445,538 CAD
Improvements Assessment
$893,041 CAD
Total Assessment
$1,338,579 CAD
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508 W Main St
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