570 Higuera StSan Luis Obispo, CA 93401

Property Details for 570 Higuera St

Year built

1953

Construction

WOOD

Lot size

0.75 AC

Property size (Sq ft)

16,266 SF

Zone code

CC

Property type

Strip malls

Property subtype

Neighborhood centers

APN

002-402-045

APU

2402045

Description

This ±1,409 square foot restaurant space in San Luis Obispo's Creamery Marketplace offers a fantastic opportunity for a quick-service restaurant or similar business. Located at 570 Higuera Street, 93401, this second-generation space boasts valuable existing improvements, minimizing upfront build-out costs. The property benefits from excellent co-tenancy within the vibrant Creamery Marketplace, ensuring high foot traffic and visibility. Outdoor seating is available, enhancing the dining experience and maximizing capacity. The location is highly walkable, catering to the bustling downtown crowd. Currently occupied, the tenant will vacate in September 2024. The landlord is offering a new tenant security deposit and the option to extend the existing lease to a five-year term, providing long-term stability. This turnkey solution presents a rare chance to establish a thriving business in a prime San Luis Obispo County location. The property is situated in a high-traffic area with excellent visibility and accessibility. This is an exceptional opportunity for a business seeking a well-established location with significant potential for growth.

• CAP approach

  CAP return

  Valuation

  6%

  $3,389,777

  6.5%

  $3,129,025

  7%

  $2,905,523

• Comparable approach

  Method

  Valuation

  Relative Method

  $5,443,112

  Geo Method

  $10,687,139

• Alternative Use

  Use

  Valuation

  Residential

  $2,639,450

  Hospitality

  $2,417,722

  Educational

  $2,011,516

  Medical

  $2,080,695

  Retail

  $3,129,025

Location Insight

City

San Luis Obispo

County

San Luis Obispo

State

California

Latitude

35.2781

Longitude

-120.667

CBSA code

42020

CBSA name

SAN LUIS OBISPO-PASO ROBLES, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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