Four Industrial Buildings For
974 Griffin St Grover Beach, CA 93433
974 Griffin St, Grover Beach, CA, 93433
$2,200,000
Pending
For Sale
$2,200,000
Pending
Four industrial buildings on a drive-thru lot in active area.
Property Size14,000 SF
Lot Size0.76 Acres
Days on Market132
Property Features for 974 Griffin St
General Information
- Standard status
- Pending
- Size
- 14,000 SF
- Lot size
- 0.76 Acres
- Property subtype
- Industrial
Building Details
- Year Built
- 1995
Listing Agency
Century 21 Masters
(805) 853-8318
Listed by
Valerie Walla · License #02217940
(805) 853-8318
Source
Elliman
Added: Mar 11 Checked: Jul 19 at 5:10 am
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 Century 21 Masters
Investment Insights
Based on property information with market context.
Four industrial buildings, totaling over 14,000 square feet, are available for purchase. The buildings are situated on a drive-thru lot with double frontage within an active industrial business area. Two of the smaller buildings are currently owner-occupied and will be leased back. A third building is partially occupied on a month-to-month basis, generating $3,375 per month. The fourth building, approximately 5,000 square feet, is fully leased on a three-year term, producing $6,050 per month. The property features 3-phase power and a flexible layout. This presents an opportunity for investors or owner-users seeking both income and functionality in an established commercial corridor. The neighboring parcel at 978 Griffin is also available for $500,000 with the concurrent sale of this property if additional space is needed.
Key Highlights
- Four industrial buildings totaling over 14,000 sqft in an active industrial area.
- Existing leases in place generating income: $3,375/month (partially occupied) and $6,050/month (fully leased).
- Estimated 5.5% CAP Rate with potential to reach 7.6%.
Local Financial Insights For Industrial
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $210.0k | $15.00 |
| − Vacancy | −$6.9k | −$0.50 |
| EGI | $203.1k | $14.50 |
| − OpEx | −$60.9k | −$4.35 |
| NOI | $142.1k | $10.15 |
14,000 SF · lease $15.00/SF/yr · vacancy 3.30% · expense 30.00%
Alternative Uses
Best Use
Industrial
$2.03M
$1.78M – $2.37M
NOI $142,149 @ 7.0% cap · market cap 6.46%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$5.51M
$4.82M – $6.42M
NOI $385,419 @ 7.0% cap · market cap 17.52%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Industrial properties
Similar For Sale Nearby
FAQs
What type of property is this?
Industrial property - Four industrial buildings on a drive-thru lot in active area.
Where is this industrial property located?
The property is located at 974 Griffin St Grover Beach, CA.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: Four industrial buildings totaling over 14,000 sqft in an active industrial area.; Existing leases in place generating income: $3,375/month (partially occupied) and $6,050/month (fully leased).; Estimated 5.5% CAP Rate with potential to reach 7.6%.
