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425 1st St 0.49 Acres of Commercial Land Offered at $2,000,000 in Solvang, CA 93463
Investment Highlights
- Prime Solvang Tourist Location
- Rare Development opportunity in a high-barrier-to-entry market with strong demand drivers and limited competition.
- VMU Zoning allows for flexible development options including hospitality, mixed use and other tourist driven options
Executive Summary
425 1st Street presents a rare ±21,344 SF VMU (Village Mixed Use) development opportunity located in the heart of Solvang’s premier tourism corridor, just one block from Copenhagen Drive. Formerly the Water Wheel property and scheduled for demolition, the site offers a true clean-slate for a variety of uses including boutique hotel, mixed-use, residential, or senior housing. Positioned within the highly desirable Santa Ynez Valley, the property benefits from strong year-round tourism, walkability to restaurants, tasting rooms, and retail, and a notable lack of new boutique hospitality supply. VMU zoning provides flexibility for multiple development strategies, with potential to enhance density through California State Density Bonus Law (buyer to verify).
Property Facts
1 Lot Available
Lot
| Price | $2,000,000 | Lot Size | 0.49 AC |
| Price Per AC | $4,081,707.62 |
| Price | $2,000,000 |
| Price Per AC | $4,081,707.62 |
| Lot Size | 0.49 AC |
Rectangular lot with existing improvement set to be demolished within 30 days. Prime location near main Solvang tourist attractions.
Description
Former Water Wheel building scheduled to be demolished to provide a clean slate for new development
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Moderately walkable
70/100
Moderately drivable
70/100
Limited public transit
30/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 139-192-024 | Improvements Assessment | $1,011,620 |
| Land Assessment | $820,233 | Total Assessment | $1,831,853 |
Property Taxes
Parcel Number
139-192-024
Land Assessment
$820,233
Improvements Assessment
$1,011,620
Total Assessment
$1,831,853
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Contact the Sale Advisor
425 1st St