425 1St StSolvang, CA 93463

Property Details for 425 1St St

Lot size

0.49 AC

Property type

Investment properties

Property subtype

Retail residential 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.

• 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

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].