425 1St St Solvang, CA 93463

This exceptional mixed-use property in desirable Solvang, California, presents a compelling value-add investment opportunity. Located at 425 1st St, Solvang, CA 93463 (APN 139-192-024), this vacant building offers 20,500 to 22,000 square feet on a 21,344 square foot lot. Currently configured as vacant office and retail space, the property boasts a rich history and significant upside. Previously approved plans for conversion into a boutique hotel have expired, but this presents a blank canvas for a creative investor. Interest from a major hotel chain has already been expressed, highlighting the property's strong potential within the thriving Solvang tourism market. The asking price is $2,750,000, representing a compelling price per square foot of $120, significantly below replacement cost. This presents a unique chance to capitalize on the strong demand for hospitality and commercial space in this sought-after location. The property's versatile nature allows for various development scenarios, making it an attractive investment for both experienced developers and those seeking a high-return opportunity. The property's prime location in Santa Barbara County ensures easy access to major transportation routes and a vibrant local economy. This is a rare chance to acquire a significant property in a highly desirable area, poised for substantial appreciation.