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Key Details
Sold Price $41,900,000
Property Type Commercial
Sub Type Hotel/Motel
Listing Status Sold
Purchase Type For Sale
Square Footage 45,410 sqft
Price per Sqft $922
MLS Listing ID NP21108014
Sold Date 12/01/21
HOA Y/N No
Year Built 1925
Lot Size 0.570 Acres
Acres 0.57
Property Description
This is a once-in-a-lifetime opportunity to acquire a trophy, downtown landmark with high-quality architectural detail positioned in the heart of Downtown Santa Barbara. The Hotel sits upon a little over a half-acre with 75 guest rooms, a lobby, and 6 street-level retail spaces, with the retail being anchored by a Starbucks Coffee. The hotel is a single U-shaped building and rear parking area. The hotel has interior corridors and includes two, 480 square foot meeting rooms and a small kitchen that is used for a lobby breakfast service (currently on hold due to COVID-19). The six tenants are all located on the first floor and are accessible from State Street. In addition to the six leased tenants, the hotel leased roof-top space to a cell tower company. The retail improvements are approx. 6,105, the hotel building is roughly 39,305 square feet, for a total of 45,410 square feet including the 1,220 square foot basement.
Location
State CA
County Santa Barbara
Area Vc81 - Santa Barbara
Zoning M-C
Rooms
Ensuite Laundry See Remarks
Interior
Laundry Location See Remarks
Heating Central
Cooling Wall/Window Unit(s)
Fireplace No
Laundry See Remarks
Building
Lot Description Corner Lot, Flag Lot, Rectangular Lot
Story 4
Water Public
Others
Tax ID 037172001
Acceptable Financing Cash, Cash to New Loan, 1031 Exchange
Listing Terms Cash, Cash to New Loan, 1031 Exchange
Financing Cash to New Loan
Special Listing Condition Standard
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Bought with NONE NONE • None MRML
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Tracy Thrower Conyers
Broker Associate, JD | License ID: 01712960
Broker Associate, JD License ID: 01712960