Greg Malik Real Estate
668 Marsh Street
San Luis Obispo, CA 93401

$2,200,000

Description

Repositioning Opportunity in the prime part of Downtown San Luis Obispo. 4.5% CAP on current income. Owner has an LOI from Verizon for a cell tower which adds $1,500 / month net. Cell Tower lease in negotiation and new buyer can determine if they want it or not. Takken Shoes (ground floor) pays $6,600 per month in 2019 and the upstairs executive offices rent for $4,500 monthly. Almost 5,000 new residential homes are currently being built or in the approval process within a 2.5 mile radius of Marsh Street. Attached brochure has the details of the downtown development surrounding this property and financial analysis. Current owner built this property in 1987.

Details

MLS#SP18048296
StyleIQWeb_Mixed Use
Sub-TypeResale
StatusPending - Show
Year1987
Days On Site286

Features

SQ Feet7,000
Story(s)2

Market Activity 93401

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Area Information

StateCA
CountySan Luis Obispo
CitySan Luis Obispo
Zip Code93401
AreaSLO - San Luis Obispo
Listing VS Median (in 93401)
Price:
$2,200,000
low | high
Med:
$402,000
100% of Average
SqFt:
7,000
low | high
Med:
1,029
100% of Average
$ / SqFt:
$314
low | high
Med:
$391
25.673916689791% of Average
On Site:
286
low | high
Med:
178.5
100% of Average
Nearby Listings (Within 1/10 mile)
Price: $0 - $0
SqFt: 5,000 - 8,500
Listing Updated: 12/11/2018
MLS Number: SP18048296
Listing Provided By:
Guy Torelli  of  Torelli Investment Realty
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