668 Marsh Street

    San Luis Obispo, CA 93401
    • $2,200,000
    • STATUS: Active Under Contract
    • ON SITE: 292 days
    • ID#: SP18048296
    Under Contract
    UPDATED: 73 min ago
    $2,200,000
    • 0
      BEDS
    • 0.16
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 7,000
      SQFT
    • $314
      $/SQFT
    Neighborhood:
    Type:
    Commercial
    Built:
    1987
    County:

    School Ratings & Info

    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.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-12-19T08:26:42.723. 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/81200033

    668 Marsh Street San Luis Obispo, CA 93401

    • Price: $2,200,000
    • Status: Active Under Contract
    • Updated: 73 min ago
    • ID#: SP18048296
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.16
    Acres
    7,000
    SQFT
    $314
    $/SQFT
    1987
    Built
    Neighborhood:
    SLO - San Luis Obispo
    County:
    San Luis Obispo
    Area:
    SLO - San Luis Obispo
    Property 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.
    Exterior Features

    Lot Features Level With Street Lot Size Units Square Feet Parking Total 6.00

    Interior Features

    Condo Area Units Square Feet Laundry Features None

    Property Features

    Additional Parcels YN No Building Area Units Square Feet Building Status Existing Cap Rate 6.00 Country Us Investment Property YN Yes Laundry YN No Leasable Area Units Square Feet Max Total Area Units Square Feet Min Total Area Units Square Feet Occupancy Occupied Property Sub Type Mixed Use Special Listing Conditions Standard Water Source Public Year Built Source Seller

    Listing provided courtesy of Guy Torelli of Torelli Investment Realty.


    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-12-19T08:26:42.723. 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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