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Land Lease Investment On The Mesa 315 Meigs Rd 10 745 pi² 100% Loué Commerce de détail Immeuble Santa Barbara, CA 93109 2 729 958 $ CAD (254,07 $ CAD/pi²) 12% Taux de capitalisation
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Faits saillants de l'investissement
- Sale consists strictly of a leasehold interest, not fee simple ownership.
- High-yield investment supported by fully stabilized, diversified tenancy.
- Long-term ground lease in place with options that may extend control through 2051.
- Located in one of Santa Barbara’s most desirable coastal neighborhoods with consistent tenant demand.
Résumé de l'annonce
This is a Leasehold Interest — a Buyer would not be purchasing the land.
315 Meigs Road offers investors a compelling opportunity to acquire a high-yield leasehold interest in one of Santa Barbara’s most desirable coastal neighborhoods. Situated in The Mesa, an area celebrated for its proximity to Shoreline Park, Leadbetter Beach, and the amenities along Cliff Drive, this location continues to benefit from strong tenant demand paired with historically limited supply.
The property is fully occupied, with a tenancy mix of eight commercial users and two residential units. This diverse income stream supports stability by reducing reliance on any single tenant and promotes consistent monthly cash flow across various uses. With in-place rents, the asset has been underwritten at an impressive 12.0 percent capitalization rate, offering a rare day-one yield unmatched by typical Santa Barbara offerings.
A purchaser will acquire control of the land lease for approximately twenty-five more years, providing a defined investment horizon with predictable returns and minimal ongoing management obligations. In a market known for high barriers to entry, constrained inventory, and premium pricing for fee simple assets, this leasehold structure presents an attainable and efficient path to secure attractive income in a core coastal submarket.
Opportunities of this caliber in The Mesa are exceptionally limited. The combination of stabilized occupancy, strong tenant mix, proven demand, and an unusually high cap rate positions 315 Meigs Road as a standout yield investment within one of California’s most resilient and sought-after real estate environments.
315 Meigs Road offers investors a compelling opportunity to acquire a high-yield leasehold interest in one of Santa Barbara’s most desirable coastal neighborhoods. Situated in The Mesa, an area celebrated for its proximity to Shoreline Park, Leadbetter Beach, and the amenities along Cliff Drive, this location continues to benefit from strong tenant demand paired with historically limited supply.
The property is fully occupied, with a tenancy mix of eight commercial users and two residential units. This diverse income stream supports stability by reducing reliance on any single tenant and promotes consistent monthly cash flow across various uses. With in-place rents, the asset has been underwritten at an impressive 12.0 percent capitalization rate, offering a rare day-one yield unmatched by typical Santa Barbara offerings.
A purchaser will acquire control of the land lease for approximately twenty-five more years, providing a defined investment horizon with predictable returns and minimal ongoing management obligations. In a market known for high barriers to entry, constrained inventory, and premium pricing for fee simple assets, this leasehold structure presents an attainable and efficient path to secure attractive income in a core coastal submarket.
Opportunities of this caliber in The Mesa are exceptionally limited. The combination of stabilized occupancy, strong tenant mix, proven demand, and an unusually high cap rate positions 315 Meigs Road as a standout yield investment within one of California’s most resilient and sought-after real estate environments.
Faits sur la propriété
Type de vente
Investissement
Condition de vente
Emphytéote
Type de propriété
Taille du bâtiment
10 745 pi²
Classe d’immeuble
B
Année de construction
1961
Prix
2 729 958 $ CAD
Prix par pi²
254,07 $ CAD
Taux de capitalisation
12%
Revenu net d’exploitation
327 595 $ CAD
Pourcentage loué
100%
Location
Multiples
Hauteur du bâtiment
1 étage
Coefficient d’occupation des sols de l’immeuble
0,28
Taille du lot
0,89 AC
Zonage
CPR2S
Walk Score®
Très pratique à pied (80)
Bike Score®
Très cyclable (74)
Principaux détaillants à proximité
Impôts fonciers
| Numéro de lot | 045-015-008 | Évaluation des bâtiments | 1 896 991 $ CAD |
| Évaluation du terrain | 2 422 812 $ CAD | Évaluation totale | 4 319 803 $ CAD |
Impôts fonciers
Numéro de lot
045-015-008
Évaluation du terrain
2 422 812 $ CAD
Évaluation des bâtiments
1 896 991 $ CAD
Évaluation totale
4 319 803 $ CAD
Contacts
-
Bob Tuler -
Gene Deering -
Frank Gamberdella -
Paul Gamberdella -
Radius Commercial Real Estate
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Land Lease Investment On The Mesa | 315 Meigs Rd
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