Four-Story Mixed-Use
For Sale
$2,995,000
437 2nd St, Solvang, CA 93463
Downtown commercial property combines a restaurant, multiple retail and office spaces, a penthouse, and a short-term rental unit.
Property Size6,911 SF
Price / SF$433.37
Days on Market236
Property Features for 437 2nd St
General Information
Standard status
Active
Size
6,911 SF
Property subtype
Commercial
Additional Details
Patio
Yes
Amenities
penthouse
private elevator
vaulted ceilings
city and mountain views
carport
onsite parking
ADA-compliant restrooms
short-term rental unit
Building Details
Year Built
1981
Buildings
1
Stories
4
Tenancy
Multi
Abandoned
No
Listing Agency:
Santa Ynez Valley Real Estate
Listed By:
Allan S. Jones · License #01132470
(805) 688-5717
Source:
Santaynezvalleyhomesforsale
Added: Feb 21
Changed: Oct 13
Last Checked: Oct 14 at 11:40PM
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 four-story mixed-use building contains 6,911 square feet and dates to 1981. The property includes a restaurant accommodating 30 plus seats, an outdoor patio, five retail and office spaces, ADA-compliant restrooms, a carport, and onsite parking. A private elevator serves the penthouse, which features three bedrooms, two fireplaces, Douglas fir beams, vaulted ceilings, and city and mountain views.
The property also includes a one-bedroom short-term rental unit that generates income. Its downtown Solvang setting places it across from the Solvang Festival Theater, with commercial, hospitality, and residential components within one building.
The property also includes a one-bedroom short-term rental unit that generates income. Its downtown Solvang setting places it across from the Solvang Festival Theater, with commercial, hospitality, and residential components within one building.
Key Highlights
- 6,911‑square‑foot mixed‑use building constructed in 1981
- Four‑story layout with penthouse and private elevator
- Penthouse includes 3 bedrooms, 2 fireplaces, Douglas fir beams, and vaulted ceilings
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$136,733
Cap Rate
4.57%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,734,660
$2.7M
Cap Rate 7%
$1,953,329
$2.0M
Cap Rate 9%
$1,519,256
$1.5M
Market Conditions
NOI Build-Up for 6,911 SF
Gross rent
$257.1K $37.20/SF
− Vacancy
−$8.5K −$1.23/SF
EGI
$248.6K $35.97/SF
− OpEx
−$111.9K −$16.19/SF
NOI
$136.7K $19.78/SF
Area
Santa Barbara County, CA
Vacancy
3.30%
Lease Rate
$37.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,734,660
Cap Rate 7%
$1,953,329
Cap Rate 9%
$1,519,256
Alternative Uses
Best Use
Apartment 5plus
$1.95M
$1.71M – $2.28M
NOI $136,733 @ 7.0% cap · market cap 4.57%
Second Best
Specialty Retail
$1.55M
$1.35M – $1.80M
NOI $108,264 @ 7.0% cap · market cap 3.61%
Theoretical Best
Multifamily LT 5
$2.17M
$1.90M – $2.53M
NOI $151,835 @ 7.0% cap · market cap 5.07%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
911
Businesses Nearby
Explore this area
Business Placement
Demographics for 93463, CA
8,731
Population
3,672
Households
2.4
Avg Household Size
52
Median Age
44%
College-Educated
94%
High-School Grad
33.9 sq mi
ZIP Area
258
Density / Sq Mi
$130,123
Median Household Income
$53,188
Median Earnings
$1,895
Median Rent
$1,044,100
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Downtown commercial property combines a restaurant, multiple retail and office spaces, a penthouse, and a short-term rental unit.
Where is this mixed-use property located?
The property is located at 437 2nd St Solvang, CA.
What is the asking price?
The asking price for this property is $2,995,000.
What are key features of this property?
This property features: 6,911‑square‑foot mixed‑use building constructed in 1981; Four‑story layout with penthouse and private elevator; Penthouse includes 3 bedrooms, 2 fireplaces, Douglas fir beams, and vaulted ceilings
