Downtown Mixed-Use Building with
437 2nd Street Solvang, CA 93463
437 2nd Street, Solvang, CA, 93463
$3,150,000
For Sale
$3,150,000
SINGLE_FAMILY - Solvang, CA
Property Size6,911 SF
Lot Size0.16 Acres
Price / SF$455.80
Days on Market38
Property Features for 437 2nd Street
General Information
- Property type
- Residential
- Property subtype
- Retail
- Bathrooms
- 6
- Rooms
- Bathroom 6, Bathroom 5, Bathroom 1, Bathroom 3, Bathroom 4, Bathroom 2
- Standard status
- Active
- APN
- 139-191-012
- Size
- 6,911 SF
- Lot size
- 0.16 Acres
Building Details
- Year built
- 1981
- Floors in Building
- 4
Listing Agency
Santa Ynez Valley Real Estate
(805) 688-5717
1595 Mission Dr, Solvang, CA
Listed by
Allan S. Jones · License #00984793
8056885717x207
Added: Jun 14 Updated: Jul 2 at 9:36 am Checked: Jul 21 at 6:06 am
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.
Investment Insights
Based on property information with market context.
This downtown commercial building presents a distinctive design with notable architectural details and a multi-level penthouse served by a private elevator spanning four floors. The penthouse includes three bedrooms, two fireplaces, Douglas fir beams, and vaulted ceilings, with city and mountain views noted in the listing. On-site amenities include ADA-compliant restrooms, as well as a carport and parking.
The property also includes a restaurant space described as supporting 30-plus seats and featuring a patio. In addition, there are five retail and office spaces, and the listing also references a one-bedroom short-term rental unit. The building is situated in Solvang, conveniently located across from the Solvang Festival Theater.
For buyers or operators seeking a mixed-use configuration, the combination of on-site dining, multiple commercial spaces, and residential-style accommodations can support an owner-occupied strategy while maintaining separate uses. The presence of ADA-compliant restrooms and on-site parking may simplify day-to-day operations for tenants and guests, including those visiting the restaurant and the short-term rental unit. Conversion opportunities are suggested for the retail and office spaces into vacation rental units, subject to applicable approvals.
The property also includes a restaurant space described as supporting 30-plus seats and featuring a patio. In addition, there are five retail and office spaces, and the listing also references a one-bedroom short-term rental unit. The building is situated in Solvang, conveniently located across from the Solvang Festival Theater.
For buyers or operators seeking a mixed-use configuration, the combination of on-site dining, multiple commercial spaces, and residential-style accommodations can support an owner-occupied strategy while maintaining separate uses. The presence of ADA-compliant restrooms and on-site parking may simplify day-to-day operations for tenants and guests, including those visiting the restaurant and the short-term rental unit. Conversion opportunities are suggested for the retail and office spaces into vacation rental units, subject to applicable approvals.
Key Highlights
- Commercial building built in 1981 with five retail/office spaces and on‑site parking
- Penthouse includes a private elevator spanning four floors
- Penthouse features 3 bedrooms, 2 fireplaces, Douglas fir beams, and vaulted ceilings
Local 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 4.34%
Second Best
Office B
$1.76M
$1.54M – $2.05M
NOI $123,291 @ 7.0% cap · market cap 3.91%
Theoretical Best
Multifamily LT 5
$2.17M
$1.90M – $2.53M
NOI $151,835 @ 7.0% cap · market cap 4.82%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Be Hospitality Safe
Consultant
Similar For Sale Nearby
FAQs
What type of property is this?
Conventional restaurant - Four-floor penthouse, patio restaurant, and multiple retail/office spaces offer flexible downtown live-and-rent opportunities.
Where is this conventional restaurant located?
The property is located at 437 2nd Street Solvang, CA.
What is the asking price?
The asking price for this property is $3,150,000.
What are key features of this property?
This property features: Commercial building built in 1981 with five retail/office spaces and on‑site parking; Penthouse includes a private elevator spanning four floors; Penthouse features 3 bedrooms, 2 fireplaces, Douglas fir beams, and vaulted ceilings
