1001 State Street

1001 State Street 1001 State Street
Santa Barbara, CA 93101

  • $31,899,000

    Asking Price

  • 6.25%

    Cap Rate

  • 100%

    Occupancy

  • 48,564

    Square Feet

  • $20,000,000

    Capital Invested

  • Office

    Property Type

Offering Summary

Address

  • 1001 State Street
    Santa Barbara, CA 93101

Pricing

  • Asking Price$31,899,000
  • Price PSF$657
  • Cap Rate6.25%

Details

  • Property TypeOffice
  • Listing StatusOn Market
  • Square Feet48,564
  • Occupancy100%
  • Year Built1960
  • Year Renovated2019
  • Capital Invested$20,000,000
  • Building ClassA
  • Building(s)1
  • Stories3
  • Floor Plates20,000
  • Acres0.98
  • ZoningC-2
  • APN039-281-045
  • TenancySingle
  • Lease TypeNNN

Offering Summary111

Address

  • 1001 State Street
    Santa Barbara, CA 93101

Pricing

  • Asking Price$31,899,000
  • Price PSF$657
  • Cap Rate6.25%

Details

  • Property TypeOffice
  • Listing StatusOn Market
  • Square Feet48,564
  • Occupancy100%
  • Year Built1960
  • Year Renovated2019
  • Capital Invested$20,000,000
  • Building ClassA
  • Building(s)1
  • Stories3
  • Floor Plates20,000
  • Acres0.98
  • ZoningC-2
  • APN039-281-045
  • TenancySingle
  • Lease TypeNNN

Address

  • 1001 State Street
    CA 93101

Pricing

  • Asking Price$31,899,000
  • Price PSF$657
  • Cap Rate6.25%

Details

  • Property TypeOffice
  • Listing StatusOn Market
  • Square Feet48,564
  • Occupancy100%
  • Year Built1960
  • Year Renovated2019
  • Capital Invested$20,000,000
  • Building ClassA
  • Building(s)1
  • Stories3
  • Floor Plates20,000
  • Acres0.98
  • ZoningC-2
  • APN039-281-045
  • TenancySingle
  • Lease TypeNNN

Description

Colliers presents the opportunity to acquire the fee-simple interest in 1001 State Street, a three-story, 48,564-square-foot creative office building in Santa Barbara that is fully NNN leased to Amazon (S&P: AA-) through August 2029. The property provides four years of stable, investment-grade income in one of California’s most supply-constrained and highly coveted coastal markets.

Located at the prominent corner of State and Carrillo Streets, the property occupies a flagship position in the heart of downtown Santa Barbara, offering immediate access to walkable retail, dining, and transit amenities. 1001 State Street sits within a robust and growing tech ecosystem—home to over 70 firms including Sonos, LogicMonitor, and Yardi—highlighting the area’s evolution into a regional hub for innovation and technology.

With a combination of credit tenancy, dependable income, and irreplaceable location, 1001 State Street represents a rare opportunity to acquire a core asset in the heart of Santa Barbara.

Deal Team

Austin Herlihy

Austin Herlihy

Executive Vice President

CA RE Lic. 01518112

Sean Fulp

Sean Fulp

Vice Chair

CA RE Lic. 01389064

Chris Parker

Chris Parker

Vice President

CA RE Lic. 01887788

Blake Hammerstein

Blake Hammerstein

Associate Vice President

CA RE Lic. 02122555