401 chapala st....401 chapala st. unit 105 | santa barbara, ca 93101 for sale ± 1,084 sf first...

401 CHAPALA ST. UNIT 105 | SANTA BARBARA, CA 93101

FOR SALE

±1,084 SF First Floor

Commercial/Retail Condo

Located In The Sevilla

Luxury Condo Complex

2 0 5 E . C A R R I L L O S T . S U I T E 1 0 0 | S A N T A B A R B A R A C A 9 3 1 0 1 | 8 0 5 . 9 6 5 . 5 5 0 0 | F A X 8 0 5 . 9 6 5 . 5 3 0 0 | R A D I U S G R O U P . C O M3 . 2 . 2 0

Aus tin [email protected] Lic. 01518112

Chris [email protected] Lic. 01887788

OFFERED AT

$925,000

F O R S A L E | T U R N - K E Y C O M M E R C I A L / R E T A I L C O N D O M I N I U M4 0 1 C h a p a l a S t . , U n i t 1 0 5 | S a n t a B a r b a r a , C A 9 3 1 0 1




The information provided here 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 it.

Opportunity to purchase this newly constructed, move-in ready

commercial/retail suite in the beautiful new 46-unit Sevilla condo

development. The condo rests at the base of this luxurious Spanish-style

complex, located just one block from bustling lower State Street. It’s a

short walk from Santa Barbara’s premier shopping center Paseo Nuevo,

the Funk Zone, the iconic Stearns Wharf and close access to the 101

freeway. The suite is fully improved and includes two reserved parking

spaces in the underground parking garage. Contact Listing Agents for

further information.

P R O P E R T Y O V E R V I E W

Offering Specifics

Price $925,000

Space Size Approx. 1,084 SF

Price/SF $853/SF

Association Fees $510.11/Month

APN 037-600-005

Year Built 2008/TI Project Completed 2014

Zoning C-2

Parking Two (2) Reserved Spaces (Secured Underground Parking Garage)

HVAC Yes

Floors 1st






L O C AT I O N & P A R C E L M A P

401 CHAPALA ST.

Chapala St.

State St.

E. G

utie

rrez S

t.

101 F

RE

EW

AY






PASEO NUEVO MALL

SANTA BARBARA HARBOR

SANTA BARBARA CITY COLLEGE

THE FUNKZONE

ST

AT

E S

T.

CHAPALA ST.

1 Apple

2 Bank of The West

3 FedEX Office Print & Ship Center

4 Old Navy

5 Marshalls

6 Satellite SB

7 Rite Aid

8 Montecito Bank & Trust

9 Bank of America Financial Center

10 Holiday Inn Express

11 Institution Ale

12 Kimpton Canary Hotel

13 Dune Coffee Roasters

14 Gold’s Gym

15 Grassini Family Vineyards

16 Levi’s Store

17 CVS Pharmacy

18 Volcom

19 Forever 21

20 Urban Outfitters

401 CHAPALA ST.

1

2

5

14

15

16

20

13

12

1110

5

20

17

18

8

9

6

3

4






HWY 101

GARDEN ST

HWY 101

Stearns Wharf

Santa Barbara Harbor

Santa BarbaraTrain Station

West Beach

STATE ST

STATE ST

Paseo Nuevo Mall

The Funk Zone

CABRILLO BLVD

L O C AT I O N | D O W N T O W N S A N TA B A R B A R A & T H E F U N K Z O N E

HWY 101

GARDEN ST

HWY 101

Santa Barbara City College

STATE ST

STATE ST

Paseo Nuevo Mall

The Funk Zone

CABRILLO BLVD

L O C AT I O N | D O W N T O W N S A N TA B A R B A R A & T H E F U N K Z O N E

401CHAPALA ST.

Downtown Santa Barbara






STATE ST

YAN

ON

ALI S

T

Santa Barbara Harbor

StearnsWharfWest

Beach

DowntownSanta

Barbara

HW

Y 101

CABRIL

LO B

LVD

N E A R B Y C O M M E R C E & A M E N I T I E S

1 The Arts Fund

2 Santa Barbara Wine Collective

3 Yoga Soup

4 Santa Barbara Roasting Company

5 Greyhound & Amtrak Stations

6 Hotel Indigo Santa Barbara

7 D'Angelo Pastry & Bread

8 Mountain Air Sports

9 Metropulos Fine Foods Merchant

10 REI

11 Tyger Tyger

12 Figueroa Mountain Brewery

13 The Lark Restaurant

14 The Californian Hotel

15 MOXI: The Wolf Museum of Exploration + Innovation

16 The Wayfarer Hotel

17 Casa Blanca Restaurant & Cantina

18 Channel Islands Surfboards

19 Santa Barbara FisHouse

20 CrossFit Santa Barbara

21 Seven Bar & Kitchen

22 Sevilla Luxury Condo Complex

19

22

1

17

9

5

21

13

3

11

7

15

2 18

10

6

14

4

20

12

8

16

MASO

N S

T

401CHAPALA ST.






105±1,084 SF

G U T I E R R E Z S T R E E T

CH

AP

AL

A S

TR

EE

T

S I T E P L A N

Unit 105 | Approx. 1,084 SF

HOA Fee: $510.11






S I T E P L A N

Unit 105 | Approx. 1,084 SF

32' - 5"

30' -

2"

PROJECT NORTH

0' 2' 4' 8' 16'

BATHROOMWORK

WORK

WORK

CONF.

OFFICE

SERVER

KTTE

PRINTERS






P R O P E R T Y P H O T O S

10/25 - 10 year fixed rate, 25 year amortization

$925,000 Project Cost $92,500 Less Down Payment

$832,500 Total Loan Amount

$462,500 CNB Mini-Perm Real Estate Loan $370,000 CNB Bridge Loan $382,305 CDC/SBA Permanent Real Estate Loan

Prepared on: 10/2 2/26/2020 Comments

Amount $462,500 Lower of 50% of purchase price or appraised valueAmortization/Term 300 months, 10 year fixed rateInterest Rate 3.61% *10 year fixed rate as of 10/28/2019, subject to market movement until locked.Loan Fee $2,313 CNB Loan fee 0.50% of loan amount Monthly Payment $2,355 Principal & Interest, estimate

Prepayment Penalty SWAP

Amount $370,000 Lower of 40% of purchase price or appraised valueTerm 180 days interest onlyInterest Rate 6.50% CNB Prime + 1.50% (variable rate)*Loan Fee $0 WaivedMonthly Payment $2,032 Interest only, estimate

Amount $382,305 This loan pays off the Bridge LoanTerm 300 months. Fully amortizing.Interest Rate 3.46% Effective Rate set when debenture is sold.*Fees : Loan Fees $9,805 2.65% included in loan amount/Effective Rate Legal Fee $2,500 included in loan amount/Effective Rate Participation Fee $2,313 0.5% of 1st TDMonthly Payment $1,906 Principal & InterestPrepayment Penalty Yes, equal to interest rate, declines by 10%

per year, none after 10 years

Summary: Estimated Blended interest rate 3.54%Estimated Out of pocket cash $97,125Combined Final Monthly Payment estimate $4,261

Other fees:

Appraisal $3,000 Estimated Environmental Phase I and Review $2,500 Estimated Due Diligence Fees $250 Estimated Documentation Fees $3,500 Estimated Title policy and other recording fees to be borne by client.

This matrix is issued for discussion purposes only and does not represent a commitment to lend by City National Bank.*Rates are subject to market movement.

City National Bank Mini-Perm Real Estate Loan

City National Bank Bridge Loan

CDC/SBA Permanent Real Estate Loan

504 Loan Program with10% down payment

Prepared by: Jason Allen, VP (805)760-1344






Symbolizing the ultimate in casual California lifestyle, Santa Barbara is undoubtedly one of America’s most desirable destinations to live and travel.

Located on a pristine coastline approximately 337 miles south of San Francisco and 93 miles

north of Los Angeles, Santa Barbara is nestled between the Pacific Ocean and the Santa

Ynez Mountains. This stretch of coast is known as the “American Riviera” because of its

mild Mediterranean climate.

With a population of approximately 92,101, Santa Barbara is both small and vibrant. Locals

and visitors are drawn to the city’s charming downtown and picturesque State Street

with its rich Spanish architecture and historical sites, wide variety of shops and galleries,

numerous Zagat-rated restaurants and thriving open-air shopping centers like the famed

Paseo Nuevo Mall. Pristine, sunny beaches, an expansive harbor and countless outdoor

attractions including the Santa Barbara Zoo, Santa Barbara Mission, Stearns Wharf and

Santa Barbara Museum of Natural History all add to the area’s appeal. And with nearly 220

vineyards within a short drive, Santa Barbara County is a renowned wine region offering an

array of some of the finest labels in the world.

Santa Barbara | The American Riviera

“Best Beach Town”Sunset Magazine’s 2015 Inaugural Travel Awards

“The 12 Best Cities for a Weekend Getaway”

U.S. News & World Report

“30 Best Small Cities in America”

Condé Nast Traveler’s Readers’ Choice Awards

T H E M A R K E T






Approx. 7.2 Million visitors to the South Coast in 2017.

Visitor split — 67.4% California Travelers, 17% Other US States, 17% International.

24% of visitors spend at least 1 night in area hotels. Average trip length 3 days / 2.4 nights.

$1.9 Billion in direct visitor spending annually.

The region is home to 220 vineyards and 23,000 acres of vineyards.

Tourism & Hospitality Industry supports roughly 18,341 jobs.

Source: 2016/2017 Destination Analysts & Visit Santa Barbara

Tourism

Annually, Santa Barbara welcomes more than 7.2 million tourists and approximately 30 cruise ships which generate over $1.9 billion in visitor spending.

Santa Barbara is sometimes referred to as the American Riviera. Its beautiful beaches, majestic mountains, and

colorful culture make Santa Barbara a premier resort destination as well as an attraction for neighbor counties such

as Ventura County (population 854,223), San Luis Obispo County (population 252,631) and Los Angeles County

(population 10,163,507). World-class accommodations and dining await many visitors. From the City, you are just

minutes away from Santa Barbara wine country. The gorgeous Santa Ynez Valley, with its breath-taking vistas, is

home to such notable attractions as Solvang and the Chumash Reservation.

The travel and tourism sector continues to be a driving force behind Santa Barbara County’s economy. In 2019, leisure

and hospitality workers totaled 28,614, according to UCSB’s Economic Forecast Project. (Compare that to 4,009

workers in the tech industry, 18,341 in retail and 23,035 in farming.) Annual spending by travelers to the South Coast

totals more than $1.9 billion and generates more than $45 million in yearly tax revenues, according to Destination

Analysts, a tourism market research firm.

T H E M A R K E T






The Funk Zone: Santa Barbara’s Unique Arts, Business & Industrial District

Over the past few years Santa Barbara’s Funk Zone has exploded into a contemporary sub-culture of artisan shops,

galleries, hip eateries, award-winning microbreweries, a craft distillery, and the Urban Wine Trail with 29 wine

tasting rooms all within walking distance. Perfectly situated in Santa Barbara’s up-and-coming waterfront just

footsteps from the beach, Stearns Wharf and the city’s famed downtown, the mixed use neighborhood encompasses

approximately 16 square blocks adjacent to State Street, the main commercial thoroughfare through the city, and is

easily accessible off the 101 freeway and the Amtrak station.

Don’t be deterred by the name; the area doesn’t have a funk so much as it has a vibe. The Funk Zone delights visitors

and locals with its rich tapestry of historical marine structures, industrial lots and old houses which support a colorful

mixture of creative uses and give the zone its face, while its occupants that reside and work there embody its eclectic

soul. With a spirit for innovation and community, the neighborhood offers the best that Santa Barbara has to offer

wrapped in an eclectic, dynamic package. Artists, winemakers and chefs have taken up shop in aged warehouses and

forgotten scuba shops, transforming the zone into an understated array of hidden hot spots.

Indeed the Funk Zone offers the perfect contrast to the pristine red tile roofs and charming Spanish-style architecture

of Santa Barbara’s historic downtown. Minus the polish and plus some grit, the Funk Zone has its own distinctive

brand of charm. Filled with sightseers and locals, the Funk Zone offers the ultimate sense of discovery as it continues

to evolve and get better as ever more businesses crop up in the ‘hood.

T H E M A R K E T






State St.

Anacapa St.

Garden St.

Salsipuedes St.

Figueroa St.

CarrilloSt.

Canon Perdido St.

De la Guerra St.

Ortega St.

Cota St.

Haley St.

Gutierrez St.

Reddick St.

E. Montecito St.

Quarantina St.

Nopal St.

Milpas St.

Anacapa St.

Helena Ave.

Gray Ave.

Castillo St.

Montecito St.

CabrilloBlvd.Mason St.Natoma Ave.

Chapala St.De La Vina St.

Yanonali St.

Calle Cesar Chavez St.

Quinientos St.

.

State St.

Anacapa St.

Garden St.

Santa Barbara St.

Yanonali St.

Laguna St.

11AU BON CLIMAT

21 HAPPY CANYON VINEYARD 30FREQUENCY WINE CO.

08 SILVER 32BARDEN

24 CEBADA VINEYARD

13 GRASSINI FAMILY VINEYARDS

23JAMIE SLONE WINES

20SANFORD WINERY 05 CARR WINERY

15 SANGUIS

03WHITCRAFT WINERY

02 JAFFURS WINE CELLARS

33 POTEK WINERY

12 DEEP SEA

25DV8 CELLARS

17THE VALLEY PROJECT

14PALI WINE COMPANY

22LAFOND WINERY

18FOX WINE CO.

19 RIVERBENCH VINEYARD

04 OREANA WINERY

16AREA 5.1 WINERY

28 PARADISE SPRINGS WINERY

10MUNICIPAL WINEMAKERS

01 SANTA BARBARA WINERY

06KUNIN WINES

07 MARGERUM WINE COMPANY

29 MELVILLE WINERY

34 J. WILKES

Santa Barbara

Figg

rrillloooSSt.

StAGaaarrrddden

Saaannnta B

L.A.

S.B.

Evan

s Ave

.

El Camino Real

Lillie Ave.

09 SUMMERLAND WINERY

Hollister Ave

StorkeRd

Fairv

iewAv

e

LosCarnerosR

d

Cathedral Oaks R

d

Calle Real

GlenAnnie

Rd

31SAMSARA WINE CO.

S.B.

Buellton

S.B.

Olive

Mill Rd

Hot Springs Rd

L.A.

Coast Village Circle

Butter�y

LnBu

tte r�y

Ln

Coast Village RdCoast Villa

ge Rd

35 FOLDED HILLS

(Wineries are numbered according to the order they joined the Urban Wine Trail.)

Funk ZoneLa ArcadaMidtownPresidioGoletaMontecitoSummerland

SummerlandMontecitoGoleta

The Urban Wine Trail

Santa Barbara’s acclaimed Urban Wine Trail offers novices and aficionados

the opportunity to learn about and taste wines of many different varieties

crafted from Santa Barbara County’s finest vineyards. With 35 tasting rooms

conveniently located in the Funk Zone just blocks from downtown and the beach,

the wine trail was created to provide the ideal adventure for those wanting to sip

and savor without the lengthy car ride.

A uniquely “green” experience, the Urban Wine Trail can be navigated entirely

by foot, bike or even pedicab, allowing for detours to shop, sight see and sink

your toes in the sand. While rolling hills and breathtaking vineyards are

certainly a treat, this urban option is a dream for those looking to maximize their

wine tasting experience without ever leaving the excitement and amenities of

downtown Santa Barbara and the beach.

M A R K E T O V E R V I E W

401 chapala st....401 chapala st. unit 105 | santa barbara, ca 93101 for sale ± 1,084 sf first...

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