701 LINDEN AVE Carpinteria CA 93013-2076

For sale for the first time in generations, The Palms property in the coastal California town of Carpinteria, is being offered as a complete package of real estate, business and brand together. Treasured by locals – regulars and celebrities alike – since the current owner’s family began The Palms restaurant in the 1950’s – and with a continuous brand history going back to the original Palms Hotel in 1912, the sale package is the rarest of opportunities to acquire prime real estate in an A+ Southern California beach town location, in an iconic building, along with an iconic business and brand.

Located on Linden Avenue which is the central commercial strip, The Palms building is only a few blocks away from Carpinteria Beach, informally known as the “world’s safest beach”. The town of Carpinteria has been a sort-of-secret coastal getaway for years, but is now evolving into its deserved place atop the list of small-town destinations for laid-back tourism and toes-in-sand relaxation.

In November 2022, the City of Carpinteria Planning Commission gave preliminary conceptual guidance for a proposed 17-room new Palms Hotel + restaurant/bar. This milestone moves forward an historic return to the Palms’ 1912 hospitality roots; for a buyer who wishes to continue the process, there is a description, layout and financial analysis shown at the end of the Offering Memorandum. A new owner will have the opportunity to continue and re-invent the magic of the location, the building and the brand, into a fun and profitable adventure for many more generations to come.

** Irreplacable beach-town location on main downtown strip and near to ocean

** Iconic building and business/brand, perhaps the most renowned in the area, since 1912

** Includes the large Palms restaurant space on the ground floor, a small leased commercial space next door, and vintage old apartments spaces upstairs. The building was once a hotel, its current configuration has been in place since the 1950's.

** Located in the greater Santa Barbara area on the Southern California coast, one of the highest-rated visitor destinations in the world

** Generational opportunity for the creative owner-use or investor to add real estate value, and add revenue streams by leveraging the brand and goodwill

** Sale includes the real estate, business and brand together, roughly proportioned 85% / 10% / 5%

** Conceptual favorable review by Planning Commission in November 2022 for renovation to 17-room hotel + restaurant/bar

** Please review the Offering Memorandum and contact listing agent for a fuller understanding of the offering

** Offering Memorandum includes links to zoning/land-use documents