Most listings are in the $40's per square foot per year. The Santa Barbara region is going through a decrease in rates. In the last 3 months, the median rate decreased $3 per sqft per year. That's a 7% decrease in rent.
In the last 90 days, 99 listings have been listed, so you'll want to check back regularly for new listings. About 9% of the available space in the Santa Barbara are subleases, so you will probably need to consider the implications of signing a direct lease with the building. There aren't many listings below 2,000 square feet on the market, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 1,200 sqft. Most buildings in this market are close to 2 floors. Most buildings in this area were built in 1974 and are Class A.