For Sale
$2,750,000

425 1St StSolvang, CA 93463

Prime Solvang location, vacant, value-add potential.

Overview

Added:
Dec 11, 2024
Days on market:
115
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.

Highlights

  • Priced below replacement cost at $120/SF.
  • Existing 20,500-22,000 SF office/retail building on a 21,344 SF lot.
  • Prime Solvang, CA location.
  • Expired boutique hotel conversion plans; presents a blank canvas for redevelopment.

Property Details for 425 1St St

Property type
Retail properties, Office properties
Square Feet
20,500 SF

Location Insight

City
Solvang
County
Santa Barbara
State
California
Latitude
34.6182169
Longitude
-120.147383
425 1St St, Solvang, California

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425 1St St
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