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701 LINDEN AVENUE
CARPINTERIA, CA
Two-Story Mixed Use Building • First Floor: Timeless Restaurant/Tavern • Second Floor: Vintage Lodging
Established in 1912 • Lot Size 11,325 +/- Sq. Ft. (Source: Public Records)
Offered at $7,750,000
For sale for the first time in generations, The Palms property at 701 Linden Avenue in Carpinteria, California, 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 hospitality roots; for a buyer who wishes to continue the process, there is a description, layout and financial analysis enclosed in addition to the Real Estate Value package.
Offering the ultimate gathering place for locals and a sought-after destination for tourists - Carpinteria and The Palms are welcoming, authentic and embody the true California spirit.
CURRENT USE PROPERTY DETAILS
The property features over 10,600sf of mixed-use commercial and lodging space, on a lot size of over 11,400sf. The street level consists of The Palms large restaurant space, plus a small adjacent 2nd commercial space rented separately to a month-to-month tenant, and a 1-room apartment. Upstairs are vintage lodging units.
Address: 701 Linden Avenue, Carpinteria, CA Parcel Number: 003-311-007
Lot Size: 11,453 square feet / 0.263 acres
Square Footage (measured gross):
Commercial - The Palms: 5,255 SF
Commercial - Tenant: 591 SF
Lodging - Downstairs: 580 SF
Lodging - Upstairs: 4,230 SF
TOTAL Gross SQFT: 10,656 SF
Parking: On-site 9 spaces uncovered
Off-site 38 zone of benefit spaces
Zoning: Central Business District (CB)
Zoning Overlay: Visitor Serving Commercial Overlay
The Palms Restaurant Seating Capacity: 117
The Palms Dance Floor Capacity: 40
Restrooms: 4 total (2 each for restaurant, bar)
Lodging Unit Mix (as currently used):
1 x 2-room (shared hall bath)
2 x 1-room (shared hall bath)
1 x 1-room/1-bath
2 x studio/office (shared hall bath)
*All information is deemed reliable, but not verified.
THE PALMS: RESTAURANT
Open up until the start of the Pandemic, The Palms Restaurant was more than just a restaurant, it was a destination, a community, an experience.
PROMINENT COMMUNITY PRESENCE
A piece of admired Carpinteria history - the building was established in 1912 and has been open ever since - maintaining a prominent community presence for over 110 years.