Berkshire Hathaway HomeServices California Properties
Listed by Berkshire Hathaway HomeServices California Properties, Berkshire Hathaway Commercial Division
$3,200,000
Phenomenal Development Opportunity!
Details
APN 137-200-078
Property Type Mixed Use, Land
Sub Type Commercial, Residential
Acreage 10.260
Zoning CR: General Commercial
Land | 10.26 acres
Marketing description
Welcome to 290 E. Highway 246, where superb location meets an exceptional nature backdrop framed by the majestic mountains and serene Santa Ynez River Bed, setting the stage for a standout development like no other! This site benefits from all utilities at or close to the site, building envelope with flat topography , and ease of access from Highway 101 and 246. Located in the commercial core of Buellton and in the middle of booming Santa Ynez Valley, with surrounding businesses/amenities in immediate proximity including: Albertson’s, CVS, Starbucks, Tractor Supply, The Habit, Panda Express, and a future In-N-Out Burger.
Zoning and Possible Uses Include:
- Mixed Use with combination of residential and commercial
- Light Manufacturing
- Assisted Living/Skilled Nursing/Medical Services
- Office Park
- Fantastic Lifestyle Project similar to SLO Ranch in San Luis Obispo or Linden Square in Carpinteria.
- Boutique Hotel/Resort
- Community Recreation/Fitness
- Animal Hospital/Veterinarian/Equine Facilities
- Education/Vocational Schools
- Religious Organizations.
Parcel Details: 10.26± gross acres, consisting of 5.08± acres above the Santa Ynez River Bed, with approximately 2.43± flat and useable acres as a building envelope, after the required 200’ setback. The setback can be used for parking, and outdoor space amenities.
Investment highlights
- Premier Area: Located in the Booming Santa Ynez Valley, spurred by a flourishing wine and tourist industry, supported by good incomes and spending metrics.
- Pro Development City: The city of Buellton has shown its desire to have controlled growth as evidenced by 2 new hotels and over 200 new apartments in development stages.
- Favorable demographic and tourist trends: Strong migratory demographic trends to the Central California Coast, in particular smaller communities like Buellton and the Santa Ynez Valley, will continue to attract Millennials for quality of life, as well as Baby Boomers for a “utopian” retirement. Given its relative close proximity to Los Angeles, Buellton and the Santa Ynez Valley shall also continue to flourish as a mecca for tourism due to its small town charm, along with its vibrant wine and restaurant scene. These migratory trends should exacerbate demand for the residential and commercial markets
- Strong Intrinsic Value & High Barriers to Entry: This property represents one of the last undeveloped parcels in Buellton with this highly flexible zoning, thus adding to the strong intrinsic value of the Property. This coupled with the City’s controlled growth should exacerbate supply constraints limiting any future developments or rezoning opportunities.
- Economic Stats: Primary geographic segmentation for Buellton: Short drive market from Los Angeles-Orange, San Diego, Bakersfield, Riverside - San Bernardino, Santa Barbara and San Luis Obispo Counties.
- Secondary: Long-drive market from San Francisco, San Jose, Oakland, Sacramento, Stockton, Fresno, and Modesto.
- Outside of CA: Arizona and Nevada
- Demographic Audience: 25-65
- Income and Spending, 5 mile radius: Average Household Income in excess of $157,000/year. Combined Food/Beverage/Recreation spending in excess of $118,000,000/year.
- Interests: Adventure, dining, beer, wine & spirits.
- Niche Markets: Beer lover, farm to table, families, foodies, girls’ getaways, glamping and more.
Listing Contacts
Berkshire Hathaway HomeServices California Properties
Listed by Berkshire Hathaway HomeServices California Properties, Berkshire Hathaway Commercial Division
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