GREAT OWNER-USER OR 115- W Micheltorena St 117 · Excellent opportunity for owner-user or investor. Well-maintained and iconic property convenient to the theater & arts district,

222 E. Carrillo Street, Suite 101, Santa Barbara, California 93101 | HayesCommercial.com

| Freestanding Historic Office Buildings | 6,070 SF

W Micheltorena St115-117

For Sale or Lease

GREAT OWNER-USER OR INVESTOR OPPORTUNITY

The information contained herein has been obtained from the owner of the property or from other sources deemed reliable. We have no reason to doubt its accuracy, but we do not guarantee i t. 9/29/20

Greg [email protected]. 01131126

Dylan [email protected]. 01472452

Experience. Integrity. Trust.Since 1993


Excellent opportunity for owner-user or investor. Well-maintained and iconic property convenient to the theater & arts district, State Street, and the amenities of downtown. 115 W Micheltorena (2,365 sf) was recently updated throughout and leased long-term. 117 W Micheltorena is a charming, historic two-story office building deemed a Structure of Merit, featuring 3,636 sf of flexible and open layouts. Easily sub-dividable for two tenants.


SALE DETAILS 115 & 117 W MICHELTORENA STBuilding Size: 6,070 SFLot Size: 8,276 SFSale Price: $2,950,000 ($491 psf )Cap Rate: 5.06% (pro forma)APN: 039-062-004Tenants: • 2,365 SF leased through 11/30/24

by Complete Practice Resource, Inc. • 1,825 SF leased to Bragg Foods through 9/30/21 • 3,705 SF available for an owner-user after 2/1/21

Parking: 8 spacesZoning: C-2

LEASE DETAILS 117 W MICHELTORENA STSize: 1,880 SF available now;

3,705 SF available after 2/1/21Lease Rate: $2.75 MGRAvailable: NowTerm: 3-10 yearsHVAC: ThroughoutKitchenette: One on each floorParking: 5 common spaces, plus streetRestrooms: CommonTo Show: Call listing agent






117 first floor

117 second floor 115 Suite B

115 Suite A






PHOTOS & PARCEL MAP


AERIAL AND SITE PLAN

County Courthouse

Arlington Theatre

Alameda Park

Granada Theatre

Public Market

SITE

115-BLEASED

115-ALEASED

1173,705 SF

1152,365 SF

MICHELTORENA STREET

State St







FLOOR PLAN | 115 W MICHELTORENA ST

First floor | 2,365 SF (leased through 11/30/24)

IT

Kitchenette

RR

115-B865 SF

115-A1,500 SF







FLOOR PLAN | 117 W MICHELTORENA ST

First floor | 1,825 SF (leased)

Both floors | 3,705 SF

Second floor | 1,880 SF (currently available)

RR

Utilities

Kitchenette

RR

Kitchenette

Leased to Bragg Foods through 9/30/21

(may be canceled early by owner after 2/1/21)







Gardner Spring Chapin and James Jefferson Gore had created quite the reputation for themselves — during the Great Chicago Fire of 1871 they famously rolled hundreds of barrels of their rye and bourbon into Lake Michigan, thus saving the precious spirits

from destruction. Co-founders of the liquor firm “Chapin and Gore,” their saloons saw such legends as Mark Twain, Buffalo Bill Cody, and William McKinley come through the door.

After years of success as a distiller, Chapin eventually felt the pull of California, especially during the harsh winter months in Chicago. He purchased a lot in Block 77 of Santa Barbara, aiming to make a winter

retreat. He named the property “The Lakota Grounds” and before long The Santa Barbara newspaper announced a wedding reception for his daughter, to be held at their recently completed home.

The residence consisted of a two-story Victorian and large carriage barn, featuring large doors facing Micheltorena Street, accessed by a long ramp. Above was a hay door with hook and pulley, topped by “fish scale” shingles and still higher, above it all, a ventilated cupola and elegantly carved finial.

After faithfully returning every year to their winter home in Santa Barbara, Chapin was struck ill in 1895 and died in February of that year. A few months later, his wife died and both were laid to rest at the Santa Barbara Cemetery.

The property has since hosted a gas station, used furniture store, and more over the past century, eventually being remodeled into professional office space in 1989. Remodels have adjusted some of the rustic architecture to suit modern use, but elements like the hay doors are still operable and provide great neighborhood views from the high-ceiling loft. The original carved finial from 1889 also remains to this day.

An excerpt from the original blueprints for the historic Chapin carriage barn.

Gardner Spring Chapin






PROPERTY HISTORY


Big-city art and culture with the heart of a small coastal town

Location. The city is 90 miles north of Los Angeles and is served by Santa Barbara Airport and Amtrak. Tucked between the Santa Ynez Mountains and the Pacific Ocean, Santa Barbara enjoys a mild, Mediterranean climate averaging 300 sunny days a year.

Economy. Renowned for its fine restaurants, shopping, hotels and architecture, the tourism industry is the region’s main economic driver. The city economy also includes a large service sector, education, tech, health care, finance, agriculture and manufacturing.

Culture. The city’s history is evident in its Spanish architecture, emanating from the majestic Mission Santa Barbara. Downtown is brimming with eateries, theaters, museums, and hosts an annual international film festival. Wine lovers can sample the Urban Wine Trail or take a short drive to the world-class vineyards of Santa Ynez Valley.

Santa Barbara

5.5 millionvisitors per year

92,034current residents

$115,737Avg. household income






AREA OVERVIEW

GREAT OWNER-USER OR 115- W Micheltorena St 117 · Excellent opportunity for owner-user or investor. Well-maintained and iconic property convenient to the theater & arts district,

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