Buellton Landmark Building
545 Ave of Flags, Buellton, CA 93427
9,136 SF commercial space on .46 acre lot.
Type:Retail
Property size:
9,136 SFLot size:
0.46 AcresPrice / SF:
$290/SF- Added:
- Sep 11, 2023
- Days on Market:
- 995
- Last Refresh:
- May 12 at 9:35 pm
Property Features for 545 Ave of Flags
General Information
- Standard status
- Active
- Size
- 9,136 SF
- Lot size
- 0.46 Acres
- Property subtype
- Retail
Listing agent Dylan Ward License #CA 01472452
Listing office Hayes Commercial Group
Listing date Sep 11, 2023
Source Crexi
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
All listing content including descriptions, pricing, images are the copyrighted material of Hayes Commercial Group
HighLights
- Landmark 9,136 sf building suitable for winery, brewery, or adaptive re‑use in the heart of Santa Ynez Valley
- Located on Buellton’s Avenue of the Flags
- .46 acre CR (General Commercial) zoned lot with ample parking and outdoor space
- Includes approx. 8,663 sf of commercial space and a 500 sf 1BD apartment
- Shorter‑term leases provide opportunity for owner‑user or developer
- Vacant parcels on either side of the property are potentially available for sale
Overview
This landmark 9,136 square foot building, formerly known as Monighetti's Feedstore, presents an opportunity for an owner-user or adaptive re-use. It is located on Buellton’s Avenue of the Flags, in the heart of the Santa Ynez Valley. The property includes approximately 8,663 square feet of commercial space and a 500 square foot one-bedroom apartment. It is situated on a 0.46 acre lot zoned CR (General Commercial), with ample parking and outdoor space. The property is suitable for a winery or brewery owner-user. The current leases are shorter-term, providing an opportunity for a creative developer within the rapidly growing City of Buellton. Vacant parcels on either side of the subject property are also potentially available for sale. Note: Parcel lines depicted are subject to lot line adjustment.
Local 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 | $219.3k | $24.00 |
| − Vacancy | −$16.4k | −$1.80 |
| EGI | $202.8k | $22.20 |
| − OpEx | −$60.8k | −$6.66 |
| NOI | $142.0k | $15.54 |
9,136 SF · lease $24.00/SF/yr · vacancy 7.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$2.03M
$1.77M – $2.37M
NOI $141,973 @ 7.0% cap · market cap 5.36%
Second Best
Industrial
$799.3K
$699.4K – $932.5K
NOI $55,949 @ 7.0% cap · market cap 2.11%
Theoretical Best
Multifamily LT 5
$2.87M
$2.51M – $3.35M
NOI $200,719 @ 7.0% cap · market cap 7.57%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Retail space
Map
- City
- Buellton
- County
- Santa Barbara
- State
- California
- Longitude
- -120.214
- Latitude
- 34.5973
Nearby Similar for Sale
FAQs
What type of property is this?
Retail space - 9,136 SF commercial space on .46 acre lot.
Where is this retail space located?
The property is located at 545 Ave of Flags Buellton, CA.
What is the asking price?
The asking price for this property is $2,650,000.
What are key features of this property?
This property features: Landmark 9,136 sf building suitable for winery, brewery, or adaptive re‑use in the heart of Santa Ynez Valley; Located on Buellton’s Avenue of the Flags; .46 acre CR (General Commercial) zoned lot with ample parking and outdoor space
