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.
Mitchell Stark
Berkshire Hathaway Commercial Division
