425 1St StSolvang, CA 93463

  • Mixed-use properties
  • 0.49 AC
For Sale
$2,750,000 View listing

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
425 1St St, Solvang, California

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

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2024
$19,445
$804,150
$991,785
$1,795,935
-
-
-
-

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].