Restaurant with Patio and Retail
437 2nd 437 Street Solvang, CA 93463
For Sale
$3,500,000
Downtown commercial building featuring a 30+ seat restaurant with patio plus five retail and office spaces and onsite parking.
Property Size6,911 SF
Price / SF$506.44
Days on Market460
Property Features for 437 2nd 437 Street
General Information
- Standard status
- Active
- Size
- 6,911 SF
- Property subtype
- General Commercial
Building Details
- Year Built
- 1981
Listing Agency:
(805) 688-5717
Listed By:
Santa Ynez Valley Real Estate
(805) 688-5717
Source:
Xome
Added: Apr 21, 2025
Changed: Jul 23
Last Checked: Jul 23 at 4:26AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Santa Ynez Valley Real Estate
Investment Insights
Based on property information with market context.
This downtown commercial building is set up with an impressive four-floor penthouse served by a private elevator. The penthouse includes three bedrooms, two fireplaces, and Douglas fir beams with vaulted ceilings, with city and mountain views. The property also features a 30+ seat restaurant with an outdoor patio, five retail and office spaces, and an additional one-bedroom short-term rental unit. ADA-compliant restrooms are available, with a carport and onsite parking.
Located at 437 2nd 437 Street in Solvang, the building is conveniently situated across from the Solvang Festival Theater.
Located at 437 2nd 437 Street in Solvang, the building is conveniently situated across from the Solvang Festival Theater.
Key Highlights
- Downtown commercial building with a 30+ seat restaurant and patio, plus onsite parking and a carport
- Penthouse spans four floors with private elevator, 3 bedrooms, 2 fireplaces, Douglas fir beams, and vaulted ceilings
- Penthouse includes city and mountain views
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $257.1k | $37.20 |
| − Vacancy | −$8.5k | −$1.23 |
| EGI | $248.6k | $35.97 |
| − OpEx | −$111.9k | −$16.19 |
| NOI | $136.7k | $19.78 |
6,911 SF · lease $37.20/SF/yr · vacancy 3.30% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.95M
$1.71M – $2.28M
NOI $136,733 @ 7.0% cap · market cap 3.91%
Second Best
Specialty Retail
$1.55M
$1.35M – $1.80M
NOI $108,264 @ 7.0% cap · market cap 3.09%
Theoretical Best
Multifamily LT 5
$2.17M
$1.90M – $2.53M
NOI $151,835 @ 7.0% cap · market cap 4.34%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Be Hospitality Safe
Consultant
FAQs
What type of property is this?
Conventional restaurant - Downtown commercial building featuring a 30+ seat restaurant with patio plus five retail and office spaces and onsite parking.
Where is this conventional restaurant located?
The property is located at 437 2nd 437 Street Solvang, CA.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: Downtown commercial building with a 30+ seat restaurant and patio, plus onsite parking and a carport; Penthouse spans four floors with private elevator, 3 bedrooms, 2 fireplaces, Douglas fir beams, and vaulted ceilings; Penthouse includes city and mountain views
