Retail Storefront
For Sale
$1,750,000
1121 Broad Street, San Luis Obispo, CA 93401
For-sale retail storefront property offering a practical space for neighborhood commercial use.
Property Size3,800 SF
Days on Market99
Property Features for 1121 Broad Street
General Information
Standard status
Active
Size
3,800 SF
Zoning
C-D
Amenities
Central
Building Details
Building Size
3,800 SF
Year Built
1929
Stories
1
Listing Agency:
Central Coast Sotheby's International Realty
Listed By:
Julianne DesJardins · License #01982316
(805) 712-9375
Source:
Evrealestate
Added: Jun 5
Changed: Sep 10
Last Checked: Sep 10 at 6:27AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Central Coast Sotheby's International Realty
Investment Insights
Based on property information with market context.
This for-sale retail storefront property is offered as a commercial real estate opportunity within the retail property category. The offering includes retail space sized at approximately 3,800 square feet, suitable for a range of storefront-oriented uses.
The property is located at 1121 Broad Street in San Luis Obispo, California, providing a street-facing commercial address for customer access.
With its retail storefront configuration and dedicated retail footprint, the space is positioned for businesses seeking a dedicated street-level presence.
The property is located at 1121 Broad Street in San Luis Obispo, California, providing a street-facing commercial address for customer access.
With its retail storefront configuration and dedicated retail footprint, the space is positioned for businesses seeking a dedicated street-level presence.
Key Highlights
- Built in 1929
- Retail storefront property suited for neighborhood commercial use
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$61,733
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.53%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,234,660
$1.2M
Cap Rate 7%
$881,900
$881.9K
Cap Rate 9%
$685,922
$685.9K
Market Conditions
NOI Build-Up for 3,800 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$91.2K $24.00/SF
− Vacancy
−$3.0K −$0.79/SF
EGI
$88.2K $23.21/SF
− OpEx
−$26.5K −$6.96/SF
NOI
$61.7K $16.25/SF
Area
San Luis Obispo County, CA
Vacancy
3.30%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,234,660
Cap Rate 7%
$881,900
Cap Rate 9%
$685,922
Alternative Uses
Best Use
Retail
$881.9K
$771.7K – $1.03M
NOI $61,733 @ 7.0% cap · market cap 3.53%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$1.49M
$1.31M – $1.74M
NOI $104,614 @ 7.0% cap · market cap 5.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
3,613
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 93401, CA
29,877
Population
14,363
Households
2.1
Avg Household Size
39
Median Age
57%
College-Educated
96%
High-School Grad
64.2 sq mi
ZIP Area
465
Density / Sq Mi
$95,386
Median Household Income
$47,898
Median Earnings
$1,859
Median Rent
$943,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Elizabeth Floral Designs — 2310 Broad St, San Luis Obispo, CA 93401
- Inspirations Floral Design — 2240 Emily St Suite 140, San Luis Obispo, CA 93401
- Coastal Pool Center — 265 Pacific St, San Luis Obispo, CA 93401
- Central Coast Cactus and Succulent Society — 520 Dana St, San Luis Obispo, CA 93401
- Open Air Flowers — 1003 Osos St, San Luis Obispo, CA 93401
Frequently Asked Questions
What type of property is this?
Storefront property - For-sale retail storefront property offering a practical space for neighborhood commercial use.
Where is this storefront property located?
The property is located at 1121 Broad Street San Luis Obispo, CA.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: Built in 1929; Retail storefront property suited for neighborhood commercial use
