Corner Mixed-Use Commercial
For Sale
$10,100,000
485 Alisal Road, Solvang, CA 93463
SINGLE_FAMILY - Solvang, CA
Property Size24,230 SF
Lot Size0.54 Acres
Price / SF$416.84
Days on Market49
Property Features for 485 Alisal Road
General Information
Property type
Residential
Property subtype
Retail
Subdivision
1 - Not Applicable
Directions
Hwy 246 to Alisal Rd
Standard status
Active
APN
139-182-027
Size
24,230 SF
Lot size
0.54 Acres
Taxes and HOA fees
Tax Annual Amount
1
Building Details
Year built
1988
Floors in Building
3
Listing Agency:
Santa Ynez Valley Real Estate
(805) 688-5717
Listed By:
Allan S. Jones · License #00984793
8056885717x207
Added: Jun 19
Changed: Jul 2
Last Checked: Aug 6 at 7:06AM
MLS# 26001211
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 landmark corner commercial building in Solvang is offered for sale and operates as a mixed-use property with multiple tenant types, including retail, restaurants, offices, wine tasting, fitness, and residential units. The property is described as one of the largest buildings in the Village Mixed Use zone. On the second floor, approval has been granted for six additional residential units.
The building sits on a 0.54-acre site and includes 14 courtyard parking spaces. It is located near a public parking lot at a major signalized intersection with high traffic, supporting visibility and convenient access for daily users and visitors.
For investors and owner-operators, the current mix across retail, food and beverage, office, and services—along with residential income—creates multiple revenue streams within a single asset. The approved addition of six residential units provides a concrete path to grow the second-floor residential component, while the courtyard parking and nearby public parking can support tenant and customer access.
The building sits on a 0.54-acre site and includes 14 courtyard parking spaces. It is located near a public parking lot at a major signalized intersection with high traffic, supporting visibility and convenient access for daily users and visitors.
For investors and owner-operators, the current mix across retail, food and beverage, office, and services—along with residential income—creates multiple revenue streams within a single asset. The approved addition of six residential units provides a concrete path to grow the second-floor residential component, while the courtyard parking and nearby public parking can support tenant and customer access.
Key Highlights
- 1988‑built landmark corner commercial building in Solvang, CA, approved in the Village Mixed Use zone.
- Tenant mix includes retail, restaurants, offices, wine tasting, fitness, and residential units.
- Approved for six additional residential units on the second floor to expand income potential.
Financial Insights For Retail
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 | $581.5k | $24.00 |
| − Vacancy | −$43.6k | −$1.80 |
| EGI | $537.9k | $22.20 |
| − OpEx | −$161.4k | −$6.66 |
| NOI | $376.5k | $15.54 |
24,230 SF · lease $24.00/SF/yr · vacancy 7.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$5.38M
$4.71M – $6.28M
NOI $376,534 @ 7.0% cap · market cap 3.73%
Second Best
Mixed Use
$2.45M
$2.14M – $2.86M
NOI $171,452 @ 7.0% cap · market cap 1.70%
Theoretical Best
Multifamily LT 5
$7.60M
$6.65M – $8.87M
NOI $532,336 @ 7.0% cap · market cap 5.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,256
Businesses Nearby
28k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Home Improvements & Furnishings 43%
Hotels & Casinos 32%
Shops & Services 20%
Dining 6%
Valley Hardware and Garden Center
Home Improvements & Furnishings
12,078 visits/mo
0.2 miles
Svendsgaard's Danish Lodge Americas Best Value Inn
Hotels & Casinos
8,976 visits/mo
0.1 miles
U.S. Bank
Shops & Services
2,855 visits/mo
0.5 miles
The UPS Store
Shops & Services
2,711 visits/mo
0.5 miles
Domino's Pizza
Dining
1,735 visits/mo
0.2 miles
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
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Diverse mixed-use tenant setup with courtyard parking and an approved expansion for additional second-floor residential units.
Where is this mixed-use property located?
The property is located at 485 Alisal Road Solvang, CA.
What is the asking price?
The asking price for this property is $10,100,000.
What are key features of this property?
This property features: 1988‑built landmark corner commercial building in Solvang, CA, approved in the Village Mixed Use zone.; Tenant mix includes retail, restaurants, offices, wine tasting, fitness, and residential units.; Approved for six additional residential units on the second floor to expand income potential.
