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    Mixed-Use Building with Private Elevator Title is generated by Realmo AI

    437 2nd Street, Solvang, CA 93463

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    New
    For Sale
    $3,250,000

    Mixed Use - Solvang, CA

    Type:Mixed Use
    Property size:
    6,911 SF
    Lot size:
    0.16 Acres
    Price / SF:
    $470/SF
    Added:
    Jun 5, 2026
    Days on Market:
    2
    Last Refresh:
    Jun 6 at 2:06 am

    Property Features for 437 2nd Street

    General Information

    Property type
    Residential
    Property subtype
    Mixed Use
    Bedrooms
    4
    Bathrooms
    7
    Rooms
    Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Bathroom 5, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4
    Patio and Porch features
    Patio, Deck
    Exterior features
    Patio, Decks
    Fireplace
    1
    Standard status
    Active
    APN
    139-191-012
    Size
    6,911 SF
    Lot size
    0.16 Acres

    Utilities

    Heating system
    Electric (Heating), Fireplace(s), Forced Air

    Building Details

    Year built
    1981
    Floors in Building
    4
    Flooring type
    Tile, Wood
    Building materials
    Stucco
    Roof type
    Concrete, Tile
    Architectural style
    Other

    We can help!

    Listing Contact
    Allan S. Jones
    Allan S. Jones

    Listing agent Allan S. Jones License #00984793

    Listing office Santa Ynez Valley Real Estate 1595 Mission Dr, Solvang, CA

    Listing date Jun 5, 2026

    MLS# 25001142 Listing URL

    Copyright © 2026 North Santa Barbara County Regional MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Penthouse with private elevator, 3 bedrooms, fireplaces, Douglas fir beams, vaulted ceilings, and city/mountain views.
    • Income‑generating one‑bedroom short‑term rental unit with high ratings.
    • Prime downtown Solvang location across from the Solvang Festival Theater.
    • 30+ seat restaurant with patio and five retail/office spaces (potential for vacation rental conversion).
    • Onsite parking and carport.
    • ADA‑compliant restrooms.

    Overview

    A designed mixed-use commercial building in Solvang featuring a standout penthouse spanning four floors and accessed by a private elevator. The penthouse includes three bedrooms, two fireplaces, Douglas fir beams, and vaulted ceilings, with city and mountain views. The building also includes a 30+ seat restaurant with an outdoor patio, five retail and office spaces, and a one-bedroom short-term rental unit.

    The property includes carport and onsite parking and offers ADA-compliant restrooms. It is positioned across from the Solvang Festival Theater, supporting a steady flow of visitors associated with downtown activity.

    This configuration offers multiple ways to use and operate the building, whether you’re looking to occupy the penthouse while maintaining income from the restaurant, retail and office spaces, and short-term rental unit. The restaurant and patio can support an on-site dining concept, while the additional spaces can be used for flexible retail and office leasing, subject to applicable arrangements. The short-term rental unit is described as generating income and high ratings, adding another component to the overall mix.
    Property Profile Location Intelligence

    Current Use by Public Records

    Be Hospitality Safe Consultant

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Solvang
    County
    Santa Barbara
    State
    California
    Longitude
    -120.141627
    Latitude
    34.594762

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    FAQs

    What type of property is this?
    Mixed-use property - Downtown mixed-use building with a four-floor penthouse accessible by private elevator and an on-site patio restaurant.
    Where is this mixed-use property located?
    The property is located at 437 2nd Street Solvang, CA.
    What is the asking price?
    The asking price for this property is $3,250,000.
    What are key features of this property?
    This property features: Penthouse with private elevator, 3 bedrooms, fireplaces, Douglas fir beams, vaulted ceilings, and city/mountain views.; Income‑generating one‑bedroom short‑term rental unit with high ratings.; Prime downtown Solvang location across from the Solvang Festival Theater.
    8056885717x207
    We can help!
    Listing Contact
    Allan S. Jones
    Allan S. Jones
    Real Estate License ID: 00984793
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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