508 W Main Street

Investment Overview

Lee & Associates Central California is pleased to present a 100% leased multi-tenant retail investment located at 508–518 West Main Street in Santa Maria. The property consists of ±9,122 SF and six units, currently generating $169,418 in annual gross income. This offering presents a good value-add opportunity, with in-place rents averaging approximately $1.55/SF/month ($18.57/SF/year) providing immediate upside through increases of the under-market rents. 5 of 6 leases expire on August 31, 2026, with one unit operating on a month-to-month basis, allowing for near-term repositioning and rental growth. This is a good opportunity for value-add investors and 1031 exchange buyers seeking stable in-place income with clear upside through lease rollover and strategic repositioning in the largest city in Santa Barbara County.