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.

  • MLS# SP18048296
  • Style IQWeb_Mixed Use
  • Sub-Type Resale
  • Status Pending - Show
  • Year 1987
  • Days On Site 290
SQ Feet 7,000
Story(s) 2
Listing Provided By:
Guy Torelli  of  Torelli Investment Realty
 
 
Retain entrance to Takken's Shoes on Marsh St.
Door at lower right is entrance to office space upstairs. There is also a rear stairway that leads to the parking area with six spaces.
Side view looking towards Marsh Street.
 
this listing $2,200,000
443.21%
$405,000 in 93401
this listing 7,000 SqFt
568.58%
1,047 SqFt in 93401
this listing $314 $/SqFt
18.75%
$387 $/SqFt in 93401
this listing 290 on site
154.39%
114 on site in 93401

Location

State CA
County San Luis Obispo
City San Luis Obispo
Zip Code 93401
Area SLO - San Luis Obispo

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