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Listing 9 out of 20
$895,000 For Sale

1027 Marsh Street
San Luis Obispo, CA 93401


2,640 sq ft

Commercial: Retail - MLS# SP18223404
Property Photo
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Description

Prime retail / office property in downtown San Luis Obispo on Marsh Street near Santa Rosa priced at a 4.7% CAP. In the heart of all the new retail, hotel, residential development. Ground floor is leased to a long-term tenant at $2,100 / month with annual increases through 2020. It's approximately 1,300 sq. ft. The upstairs space of 1,300 sq ft is Tattoo Artistry who just signed a five year lease starting at $2,100 / month. $100 per month annual rent increases. The current owner completely re-built this property in 1985 including new plumbing, electrical, etc. See attached brochure for income details. Modified Gross leases where tenants pay all utilities and fire sprinkler fees and owner pays property taxes and insurance.

Features

  • Property Type: Commercial
  • Sub Type: Retail
  • Listing Status: Active
  • Zip Code: 93401
  • Year Built: 1953
  • Sq.Ft.: 2,640 sq ft
  • Zoning: CC
  • Area: SLO - San Luis Obispo
  • Building Area Units: Square Feet
  • Building Status: Existing
  • Cap Rate: 4.70
  • Condo Area Units: Square Feet
  • Cooling YN: Yes
  • Country: US
  • Directions: On Marsh just south of Santa Rosa
  • Gross Scheduled Income: 54000.00
  • Heating: Forced Air
  • Heating YN: Yes
  • Listing Agent License: 00666517
  • Listing Office License: 00666517
  • Lot Size Source: Assessor
  • MLS: CRM
  • Max Total Area Units: Square Feet
  • Min Total Area Units: Square Feet
  • Net Operating Income: 42000.00
  • Number Of Buildings: 1
  • Number Of Units Leased: 2
  • Water Source: Public
Courtesy of Torelli Investment Realty, Guy Torelli

and our Morro Bay Affiliate & second location

Morro Bay Real Estate Partner

San Luis Obispo Realty
805-544-9161
info@san-luis-obispo-realty.com
441 Marsh Street
San Luis Obispo, CA 93401

CA BRE# 00577121

 

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