2995 Associated Road | Casmalia
Status: For Sale
Property Type: Ranch Land
SF: 54 Acres
Cap Rate: %
Marcus & Millichap, as exclusive advisor, is pleased to present the opportunity to purchase 2995 Associate Road, Casmalia, CA (“the Property”). The Property consists of approximately 54 acres of AG-zoned land in the heart of the North County of Santa Barbara. The ranch, Casmalia Arena, is the only property in the county with a conditional use permit for commercial rodeos and equestrian events year-round. The Property has fantastic income of approximately $100,000 per year through the rental of two homes, one which has been completely remodeled, the housing of livestock, and an onsite event space. There are also multiple opportunities to increase income.
Casmalia Arena is secluded with three private entrances and a double rail spur neighboring the north edge of the property. The Property is served by the Casmite Corporation water district, which is owned by Chevron. There are ongoing plans, which are currently halfway through the permit process, for a quarter mile drag strip next to the railway. The Property includes: a great event space for weddings, 4H activity, and equestrian events; a 150 square foot by 300 square foot arena, announcer stands, grand stands, bucking shoots, three round pens, 30 covered stalls, two houses, commercial restrooms, world class penning, rodeo, and barrel racing.
This is a unique opportunity with current income and upside potential in secluded Santa Barbara County.