1506 Railroad StOceano, CA 93445

Property Details for 1506 Railroad St

Year built

1991

Construction

STEEL FRAME

Lot size

0.10 AC

Property size (Sq ft)

2,160 SF

Zone code

CS

Property type

Retail properties

Property subtype

Other automotive properties

APN

061-046-026

APU

61046026

Description

This exceptional mixed-use property in Oceano, CA, presents a unique investment opportunity. Located at 1506 Railroad Street, this 4,320 square foot building sits on a 0.1-acre lot and boasts a prime commercial services (CS) zoning designation. Constructed in 1991, the two-story steel structure offers remarkable adaptability for a variety of business ventures, investment portfolios, or personal use. The exterior features fencing on two sides, convenient covered rear parking, and concrete approaches at both the front and rear. A significant advantage is the inclusion of a two-year-old, fully paid-for solar energy system, providing ample electricity for the entire building and including backup storage panels for extended power supply. The lower level, encompassing 2,160 square feet, is currently configured as a blend of office/retail space and a garage workshop, complemented by two half-bathrooms. Upstairs, accessible via a private entrance, is a completely remodeled one-bedroom apartment, along with several additional rooms suitable for bedrooms or offices, and two full bathrooms. A beautiful deck extends from the apartment, offering stunning views and the calming sounds of the nearby ocean. The steel construction allows for flexible configuration to suit diverse needs. This property's combination of location, size, features, and zoning makes it an attractive proposition for discerning buyers.

• CAP approach

  CAP return

  Valuation

  6%

  $450,136

  6.5%

  $415,510

  7%

  $385,831

• Comparable approach

  Method

  Valuation

  Relative Method

  $722,804

  Geo Method

  $1,035,079

• Alternative Use

  Use

  Valuation

  Residential

  $350,499

  Hospitality

  $321,055

  Educational

  $267,114

  Medical

  $276,300

  Retail

  $415,510

Location Insight

City

Oceano

County

San Luis Obispo

State

California

Latitude

35.1033

Longitude

-120.621

CBSA code

42020

CBSA name

SAN LUIS OBISPO-PASO ROBLES, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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