Mixed-Use Building with Courtyard
485 Alisal Road, Solvang, CA 93463
For Sale
$9,900,000
CM Ind/Bus Op-Sale, Solvang, CA
Property Size24,230 SF
Lot Size0.54 Acres
Price / SF$408.58
Days on Market142
Property Features for 485 Alisal Road
General Information
Property type
Property subtype
Zoning description
Fireplace
Lot features
Subdivision
Standard status
APN
Size
Lot size
Tenancy & Operations
Currently Operating
Tenant in Place
Site & Location
Corner Location
Mixed-Use Components
Taxes and HOA fees
Tax Annual Amount
Utilities
Utilities
Sewer type
Heating system
Cooling system
Water source
Building Details
Year built
Floors in Building
Building materials
Roof type
Buildings
Listing Agency:
Santa Ynez Valley Real Estate
Listed By:
Allan S. Jones · License #00984793
(805) 688-5717
Added: Jun 18
Changed: Oct 27
Last Checked: Nov 6 at 10:06PM
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.
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Investment Insights
Based on property information with market context.
Frederik's Court is a 24,230-square-foot mixed-use building on a 0.54-acre site in Solvang. Built in 1988, the stucco property includes retail, restaurant, office, wine-tasting, fitness, and residential components. The building has a metal roof, central air, natural-gas forced-air heat, public water, public sewer, and 14 courtyard parking spaces. A fireplace is also present.
Located at 485 Alisal Road near a major signalized intersection, the property is positioned in Solvang's Village Mixed Use zone and is near a public parking lot. Approval has been granted for six additional residential units on the second floor, providing an expanded approved use within the existing building.
Located at 485 Alisal Road near a major signalized intersection, the property is positioned in Solvang's Village Mixed Use zone and is near a public parking lot. Approval has been granted for six additional residential units on the second floor, providing an expanded approved use within the existing building.
Key Highlights
- 24,230‑square‑foot mixed‑use building on 0.54 acres
- Retail, restaurants, offices, wine tasting, fitness, and residential uses
- Approval granted for six additional residential units on the second floor
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$379,573
Cap Rate
3.83%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$7,591,460
$7.6M
Cap Rate 7%
$5,422,471
$5.4M
Cap Rate 9%
$4,217,478
$4.2M
Market Conditions
NOI Build-Up for 24,230 SF
Gross rent
$523.4K $21.60/SF
− Vacancy
−$17.3K −$0.71/SF
EGI
$506.1K $20.89/SF
− OpEx
−$126.5K −$5.22/SF
NOI
$379.6K $15.67/SF
Area
Santa Barbara County, CA
Vacancy
3.30%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$7,591,460
Cap Rate 7%
$5,422,471
Cap Rate 9%
$4,217,478
Alternative Uses
Best Use
Specialty Retail
$5.42M
$4.74M – $6.33M
NOI $379,573 @ 7.0% cap · market cap 3.83%
Second Best
Retail
$5.38M
$4.71M – $6.28M
NOI $376,534 @ 7.0% cap · market cap 3.80%
Theoretical Best
Multifamily LT 5
$7.60M
$6.65M – $8.87M
NOI $532,336 @ 7.0% cap · market cap 5.38%
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
986
Businesses Nearby
23k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Home Improvements & Furnishings 53%
Hotels & Casinos 39%
Dining 8%
Valley Hardware and Garden Center
Home Improvements & Furnishings
12,078 visits/mo
0.1 miles
Svendsgaard's Danish Lodge Americas Best Value Inn
Hotels & Casinos
8,976 visits/mo
0.1 miles
Domino's Pizza
Dining
1,735 visits/mo
0.1 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
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Market
Properties on Market for Mixed-use properties in Santa Barbara County
Vacancy Rate% for Retail in West region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Multi-tenant property combines retail, dining, office, fitness, wine-tasting, and residential uses.
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 $9,900,000.
What are key features of this property?
This property features: 24,230‑square‑foot mixed‑use building on 0.54 acres; Retail, restaurants, offices, wine tasting, fitness, and residential uses; Approval granted for six additional residential units on the second floor
