On the market for the first time in generations, The Palms property at 701 Linden Avenue in Carpinteria is offered as a complete real estate, business and brand package.
The Palms Building was originally built as a hotel in 1912, as prominently featured in many photos of historic Carpinteria. In the 1950s, the ground floor of the building became the Palms restaurant, which generations of locals and visitors have known, while the upper floor retained much of its initial hotel setting.
The City of Carpinteria Planning Commission recently considered in November 2022 a restoration of the property to its hotel roots along with a modified smaller food and beverage footprint. At the public hearing, the commissioners provided input and direction for some minor adjustments and mitigations, then provided unanimous support for the concept of a 17-room hotel plus restaurant and bar design. Building on the positive momentum of this hearing, the proposal provides a platform for a new owner to envision and discuss an exciting and profitable new chapter for Palms ownership:a tribute to the origin of Carpinteria’s most famous property and a vision that is embraced by civic leaders.
Located on Linden Avenue, which is the central business strip, The Palms building is just a few blocks from Carpinteria Beach, known informally as the “World’s Safest Beach”. The city of Carpinteria has been something of a secret coastal getaway for years, but now it’s evolving into its rightful place at the top of the list of small-town destinations for laid-back sightseeing and toes-in-the-sand relaxation. Right across the street. from The Palms, the entire block between 7th and 8th streets is being transformed into an exciting mixed-use development with restaurants, shops, offices, a rooftop bar and a large landscaped courtyard for people to gather. Tenants announced so far include Old Town Coffee and Ramón Velazquez of Corazón Cocina.
Treasured by locals, regulars and celebrities alike, since the current owner’s family opened The Palms restaurant in the 1950s, the package sale is the rarest opportunity to purchase prime real estate in an A+ location in a Southern California coastal town, in an iconic building, along with an iconic business and brand.
Offering the best gathering place for locals and a coveted destination for tourists.—Carpinteria and The Palms are welcoming, authentic and embody the true spirit of California.
The Palms at 701 Linden Avenue is being offered for $7,750,000. Click here for the full Offering Memorandum and for more information or to schedule a showing contact Kogevinas Luxury Properties at 805-450-6233 or [email protected].
Sponsored by Kogevinas Luxury Properties (DRE# 01209514) of the Berkshire Hathaway Luxury Collection.