Mixed-Use Building with
For Sale
$2,995,000
437 2nd Street, Solvang, CA 93463
CM Ind/Bus Op-Sale, Solvang, CA
Property Size6,911 SF
Lot Size0.16 Acres
Price / SF$433.37
Days on Market544
Property Features for 437 2nd Street
General Information
Property type
Residential
Property subtype
Retail
Zoning description
Com/Residential, Commercial
Bathrooms
5
Full bathrooms
3
Half bathrooms
3
Rooms
Bathroom 6, Bathroom 5, Bathroom 3, Bathroom 1, Bathroom 2, Bathroom 4
Patio and Porch features
Patio, Deck
Interior features
Cathedral Ceiling(s)
Exterior features
Patio, Decks
Fireplace
1
Lot features
Level, Level
Subdivision
38 - Santa Ynez Valley
Standard status
Active
APN
139-191-012
Size
6,911 SF
Lot size
0.16 Acres
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Forced Air, Electric (Heating)
Water source
Public
Amenities
private elevator
ADA-compliant restrooms
Building Details
Year built
1981
Floors in Building
4
Building materials
Stucco
Roof type
Concrete, Tile
Listing Agency:
Santa Ynez Valley Real Estate
Listed By:
Allan S. Jones · License #00984793
(805) 688-5717
Added: Apr 25, 2025
Changed: Oct 19
Last Checked: Oct 20 at 7:06PM
MLS# 25000809
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.
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Investment Insights
Based on property information with market context.
This 6,911-square-foot mixed-use property, built in 1981, combines a restaurant, retail and office components, residential accommodations, and outdoor areas on a 0.16-acre parcel. The restaurant accommodates 30 plus seats and includes a patio, while five additional retail and office spaces provide varied commercial configuration. A one-bedroom short-term rental unit is also included.
The upper-level penthouse extends across four floors and is served by a private elevator. Its interior features three bedrooms, two fireplaces, Douglas fir beams, vaulted ceilings, and city and mountain views. The property also offers ADA-compliant restrooms, a carport, onsite parking, decks, stucco construction, concrete and tile roofing, public water, and public sewer. It is located across from the Solvang Festival Theater.
The upper-level penthouse extends across four floors and is served by a private elevator. Its interior features three bedrooms, two fireplaces, Douglas fir beams, vaulted ceilings, and city and mountain views. The property also offers ADA-compliant restrooms, a carport, onsite parking, decks, stucco construction, concrete and tile roofing, public water, and public sewer. It is located across from the Solvang Festival Theater.
Key Highlights
- 6,911 square feet on a 0.16‑acre parcel
- Restaurant with 30 plus seats and patio
- Five retail and office spaces
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
1
Residential units
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
Frequently Asked Questions
What type of property is this?
Mixed-use property - Multi-level property combines restaurant, retail and office areas with a private residential penthouse and short-term rental unit.
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 $2,995,000.
What are key features of this property?
This property features: 6,911 square feet on a 0.16‑acre parcel; Restaurant with 30 plus seats and patio; Five retail and office spaces
