1440 Mission Dr Solvang, CA 93463
- Hotels
- 0.79 lot acres
Current Use by Public Records
- Kronborg Inn / Hotel / Extended Stay Hotel
Property Details for 1440 Mission Dr
- Lot size
- 0.79 lot acres
- Property type
- Hotels
- APN
- 137-590-001
- APU
- 137590001
Description
This exceptional 39-key European-style boutique hotel, located at 1440 Mission Dr, Solvang, CA 93463, presents a compelling investment opportunity. Built in 1968 and extensively renovated in 2023, the property boasts a desirable location in the heart of Santa Barbara County's vibrant Santa Ynez Valley. The hotel sits on a 0.79-acre lot and features a two-story building. Currently operating at 60% occupancy, the hotel generates a strong Net Operating Income (NOI) of $836,140, representing a pro-forma capitalization rate of 7.96%. The asking price is $10,000,000, translating to a price per key of $269,231. Amenities include an outdoor heated pool and jacuzzi, enhancing the guest experience. This property is ideally positioned to capitalize on the thriving tourism in Solvang, offering a unique blend of European charm and Californian allure. The recent renovations ensure the hotel is well-maintained and ready to continue generating strong returns. This is a rare opportunity to acquire a profitable and well-located hotel in a sought-after destination. The property's strong financial performance and attractive amenities make it an ideal investment for discerning buyers seeking a foothold in the hospitality sector. The hotel's prime location and recent upgrades position it for continued success and growth within the thriving tourist market.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $11,700,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $7,950,000
- 6.5%
- $8,640,000
- 7%
- $9,135,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $7,675,000
- Geo Method
- $8,655,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $9,340,000
- Retail
- $9,550,000
- Mixed-Use
- $8,265,000
- Hospitality
- $9,200,000
- Educational
- $7,380,000
- Residential Income
- $9,760,000
- Energy
- $8,570,000
- Income-Based Land
- $8,865,000
- Food Service
- $7,145,000
Location Insight
- Map
- Local Demand
- City
- Solvang
- County
- Santa Barbara
- State
- California
- Longitude
- -120.147
- Latitude
- 34.595
- CBSA code
- 42200
- CBSA name
- SANTA MARIA-SANTA BARBARA, CA METROPOLITAN STATISTICAL AREA
