Former Edwards Cinema
43,610 SF | Retail Building | Santa Maria, CA 93454 | For Sale
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
- Property Type
-
Retail
- Square Feet
- 43,610 SF
Listing Contacts
Phillip Kyle
Verified Profile
- Property Info
Property Overview
Acquire the former Edwards Cinemas, a noteworthy staple in the flourishing Santa Maria market. The property offers an existing 43,610-square-foot former multi-screen theatre building on a 5.9-acre parcel with abundant parking. It sits in the Costco Power Shopping Center, home to several big-name retailers. Other nearby demand drivers include Costco Wholesale, Walmart Supercenter, Target, T.J. Maxx, Starbucks, Trader Joe’s, In-N-Out Burger, and several car dealerships.
Investors and owners/users are presented with a unique opportunity to repurpose or renovate the property to meet their vision. Retail rents in Santa Maria have increased by an impressive cumulative 12.7% since 2020. Currently, no other projects are under construction, making already constructed properties highly valuable. Santa Maria is an excellent market for investors and owners. Over the past three years, there have been 58 sales, which have traded for approximately $106 million cumulatively.
Santa Maria, the most populous city in the county, has an economic development commission dedicated to the area's success. The metro is highly educated, with roughly one-third of residents having a bachelor's degree or higher and a median household income of $87,000. Many University of California, Santa Barbara (UCSB) graduates work for major employers in the area. Just off Southern California’s coast, this lively city combines beautiful beaches and stunning views with several shopping and dining options. The area also boasts generous green space with parks, playgrounds, hiking, and biking sprinkled into the city.
Investors and owners/users are presented with a unique opportunity to repurpose or renovate the property to meet their vision. Retail rents in Santa Maria have increased by an impressive cumulative 12.7% since 2020. Currently, no other projects are under construction, making already constructed properties highly valuable. Santa Maria is an excellent market for investors and owners. Over the past three years, there have been 58 sales, which have traded for approximately $106 million cumulatively.
Santa Maria, the most populous city in the county, has an economic development commission dedicated to the area's success. The metro is highly educated, with roughly one-third of residents having a bachelor's degree or higher and a median household income of $87,000. Many University of California, Santa Barbara (UCSB) graduates work for major employers in the area. Just off Southern California’s coast, this lively city combines beautiful beaches and stunning views with several shopping and dining options. The area also boasts generous green space with parks, playgrounds, hiking, and biking sprinkled into the city.
Property Details
- Class
- B
- Year Built
- 1993
- Stories
- 2
- Property Subtype
- Freestanding, Storefront Retail/Office, Loft/Creative Space
- Lot Size (sq. ft)
- 257,004 SF
Highlights
- Former Edwards Cinemas perfectly located alongside South Bradley Road amid a wide variety of existing established retailers off Highway 101.
- Highway 101 is a heavily trafficked arterial with over 69,000 daily vehicles, connecting Santa Maria to Santa Barbara and beyond.
- Santa Maria is the most populated city in the county, with high spending on retail, entertainment, and hobbies.
- Prime opportunity for investors and owner/users alike to repurpose or renovate the asset to meet their vision.
- Costco Power Shopping Center also features Red Lobster, Taco Bell, Office Depot, The Hobby Lobby, McDonald’s, and Applebee’s.
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