1027 Marsh Street

    San Luis Obispo, CA 93401
    • $895,000
    • STATUS: Active
    • ON SITE: 34 days
    • ID#: SP18223404
    Price Reduced
    UPDATED: 30 min ago
    $895,000
    • 0
      BEDS
    • 0.04
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 2,640
      SQFT
    • $339
      $/SQFT
    Neighborhood:
    Type:
    Commercial
    Built:
    1953
    County:

    School Ratings & Info

    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.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-10-17T21:30:17.167. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
    www.pismohomes.com/homes/87441430

    1027 Marsh Street San Luis Obispo, CA 93401

    • Price: $895,000
    • Status: Active
    • Updated: 30 min ago
    • ID#: SP18223404
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.04
    Acres
    2,640
    SQFT
    $339
    $/SQFT
    1953
    Built
    Neighborhood:
    SLO - San Luis Obispo
    County:
    San Luis Obispo
    Area:
    SLO - San Luis Obispo
    Property 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.
    Exterior Features

    Lot Features Sprinkler SystemZero Lot Line Lot Size Source Assessor Lot Size Units Square Feet

    Interior Features

    Condo Area Units Square Feet Cooling Central Cooling YN Yes Heating Forced Air Heating YN Yes Laundry Features None

    Property Features

    Additional Parcels YN No Building Area Units Square Feet Building Status Existing Cap Rate 4.70 Country Us Gross Scheduled Income 54000.00 Laundry YN No Leasable Area Units Square Feet Max Total Area Units Square Feet Min Total Area Units Square Feet Net Operating Income 42000.00 Number Of Units Leased 2 Property Sub Type Retail Special Listing Conditions Standard Water Source Public Zoning Cc

    Listing provided courtesy of Guy Torelli of Torelli Investment Realty.


    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-10-17T21:30:17.167. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
     
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