Greg Malik Real Estate
671 W Tefft Street
Nipomo, CA 93444

$6,500,000

Description

TEFFT CENTER, NIPOMO, CA Multi Tenant Mixed Use Center - Retail | Office | Medical Team Puhek, with RE/MAX Del Oro, is proud to present this opportunity to purchase the commercial center known as Tefft Center. Tefft Center contains retail, office and service spaces and a free standing office building leased by the County of San Luis Obispo. The Tefft Center commercial building is centrally located in Nipomo's trade district with national/international brand retailers including Starbucks, Vons, CVS Pharmacy, Taco Bell, Chevron, McDonald's, and Carl's Jr. Located just off HWY 101 and Tefft St, the center experiences excellent exposure and high traffic counts. The center is 93.9% occupied with many of the tenants having annual increases, renewal options and long term history on site. Pro Forma cap rate is 8% - based on rent as of July 1st and anticipated expenses for 2018. Specifically, the San Luis Obispo County Social Services Office has a very strong operating history at the site having been there for 18 years. Originally they were located in Unit 1 and 2 in the Front building (671 W. Tefft), the Rear Building (681 W. Tefft) was built to accommodate their growing needs. Plumbing has been completely replaced as of 2018. Approx. 180,000 in buildouts were spent by the county on rear building. New 5 year lease with one five (5) year option and annual CPI increases throughout base and option period. Fill out NDA for financial information.

Details

MLS#PI18090564
StyleRetail
Sub-TypeResale
StatusActive
Year1995
Days On Site156

Features

SQ Feet29,761
Story(s)1

Market Activity 93444

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Area Information

StateCA
CountySan Luis Obispo
CityNipomo
Zip Code93444
AreaNPMO - Nipomo
Listing VS Median (in 93444)
Price:
$6,500,000
low | high
Med:
$620,896
100% of Average
SqFt:
29,761
low | high
Med:
909
100% of Average
$ / SqFt:
$218
low | high
Med:
$171
71.658177253292% of Average
On Site:
156
low | high
Med:
410
38.048780487805% of Average
Nearby Listings (Within 1/10 mile)
Price: $0 - $0
SqFt: 22,000 - 37,000
Listing Updated: 09/21/2018
MLS Number: PI18090564
Listing Provided By:
Michael Puhek  of  RE MAX Del Oro
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