425 1St StSolvang, CA 93463
- Mixed-use properties
- 0.49 AC
Property Details for 425 1St St
- Lot size
- 0.49 AC
- Property type
- Mixed-use properties
- Property subtype
- Other investment properties
- APN
- 139-192-024
- APU
- 139192024
Description
This exceptional 22,899 square foot commercial property, situated on a 0.49-acre lot at 425 1st Street in the charming town of Solvang, California, presents a unique investment opportunity. Currently 100% vacant, the property offers a flexible layout suitable for a variety of uses, including office space above retail, and previously held plans for hospitality conversion. The existing structure provides a solid foundation for a new owner to realize their vision. The property is being offered below replacement cost, representing a significant value proposition for discerning investors. The "as-is" condition allows for maximum flexibility in redevelopment and customization. Located in the highly desirable Solvang area, this property benefits from excellent visibility and accessibility, making it an ideal location for a variety of businesses. The seller has already completed preliminary plans for a hospitality conversion, providing a potential blueprint for future development. This is a rare chance to acquire a substantial commercial property in a prime location, ready for immediate redevelopment or renovation to suit your specific needs. Don't miss this opportunity to capitalize on the potential of this exceptional property in the heart of Solvang. The property is sold as-is.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $7,883,327
- 6.5%
- $7,276,917
- 7%
- $6,757,138
-
Comparable approach
- Method
- Valuation
- Relative Method
- $6,291,102
- Geo Method
- $6,291,102
-
Alternative Use
- Use
- Valuation
- Residential
- $7,276,917
- Hospitality
- $6,665,617
- Educational
- $5,545,715
- Medical
- $5,736,440
- Retail
- $8,626,668
Location Insight
- City
- Solvang
- County
- Santa Barbara
- State
- California
- Latitude
- 34.5944
- Longitude
- -120.14
- CBSA code
- 42200
- CBSA name
- SANTA MARIA-SANTA BARBARA, CA METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
FAQs
- How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
- Please email our support team at [email protected] and they will add the team member.
- How do I access a private listing?
- Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
- How can I contact the broker?
- We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
- How do I unsubscribe from emails?
- At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].