$5,700,000
$5,975,000
4.6%For more information regarding the value of a property, please contact us for a free consultation.
2.39 Acres Lot
SOLD DATE : 01/11/2024
Key Details
Sold Price $5,700,000
Property Type Commercial
Sub Type Retail
Listing Status Sold
Purchase Type For Sale
MLS Listing ID SC23190498
Sold Date 01/11/24
HOA Y/N No
Year Built 1987
Lot Size 2.390 Acres
Property Sub-Type Retail
Property Description
This is a rare and lucrative opportunity to own a thriving 24,496 square foot strip center on bustling Los Osos Valley Road in San Luis Obispo, California. The Subject Property offers a mix of 15 tenant suites, ranging in size from +/- 890-2600 SF and 106 parking spaces, all strategically positioned on the key LOVR thoroughfare, one of the city's busiest and most sought-after commercial arteries. A stone's throw from the new SLO Ranch project site and within proximity to major retail giants such as Target, Costco, and Whole Foods, the center enjoys excellent freeway access and high visibility, making it an ideal investment for astute real estate entrepreneurs. 6.6% Existing Cap Rate, 7.2% Proforma Cap Rate. $5,975,000
Location
State CA
County San Luis Obispo
Area Slo - San Luis Obispo
Zoning CS
Interior
Fireplace No
Laundry None
Building
Lot Description Level, Paved, Rectangular Lot
Story 1
Water Public
Others
Tax ID 053151019
Acceptable Financing Cash, Cash to New Loan
Listing Terms Cash, Cash to New Loan
Financing Seller Financing
Special Listing Condition Standard
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Bought with Preston Thomas • Colliers Tingey International Inc.
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "