Welcome to Apartment Building Trader

478 4th Place consists of a single-tenant corner lot property zoned TRC (Tourist Related Center). The property previously operated as a restaurant and bar. Built in 1952, the building’s exterior is comprised of adobe in the restaurant and bar areas and cement stone in the kitchen. The structure is 1,712 square feet on a 7,405 square foot lot. The property also offers a large covered dining patio area.

Formerly the Cabernet Bistro, this property still includes kitchen equipment such as walk-in fridge/freezer, stoves, utensils, and sinks. It is also furnished with booths, chairs, tables, and outdoor patio furniture. The romantic ambience contributes to its former reputation as a place where one does not “eat”, one “dines”. The occupancy is believed to be for up to 120 people but this has not been verified.

The property has great curb appeal, as visitors to the restaurant are greeted by well manicured landscaping and inviting green awnings at the two entrances off 4th Place and Copenhagen Drive. This property gains from exposure to both pedestrian and vehicular traffic in the heart of Solvang.

Economic Indicators & Market Trends:
The economic recession had especially impacted the retail market nationwide as consumers have sharply contracted spending. The city’s residential population of over 5,000, however, makes up just a fraction of Solvang’s consumers. The city is a high tourist attraction area year round, boasting an average of 2 million visitors a year, with the numbers rising annually. The local retail shops, vineyards, and restaurant s can thus benefit from business generated by both the residents and the visitors. Typically, most shops, restaurants, and bakeries close in the early afternoons in Solvang leaving opportunity for a business that offers visitors somewhere to shop or eat in the later hours of the afternoon and evenings.

Deal Points and Financing Options:
This investment presents numerous opportunities for an astute investor or business owner wishing to run a restaurant or re-develop the property to function as a new business operating under the many options that are included with TRC zoning.

This property can be purchased all cash or with 25% down with the owner carrying back the first. Please call for further details.

Solvang is an enchanting little city located in Santa Barbara County. Founded in 1911 by a group of Danish educators, the buildings reflect traditional Danish style architecture, and the city actually bears little resemblance to modern Denmark. Despite being only 2.5 square miles in total, the city has a lot to offer its 5000 residents and year round frequenting tourists including wine tasting featuring wines from the outlining wine country of Santa Ynez and excellent air quality to enjoy numerous outdoor activities. The tree-lined streets feature many restaurants, bakeries, shops, and museums to explore. In addition, there are festivals held throughout the year celebrating the rich Danish heritage.

The city of Solvang is accessed through the 101 Freeway via State Route 246. It lies nestled in the Santa Ynez Valley, roughly two hours north of Los Angeles. Solvang is also accessible by AMTRAK, which stops in Santa Barbara and San Luis Obispo connecting with bus service to Solvang.