Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    581 Higuera St San Luis Obispo, CA 93401

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Flagship restaurant opportunity in a vibrant, new luxury development.

    Lot size:
    0.09 Acres

    Property Features for 581 Higuera St

    General Information

    Property type
    Commercial
    Standard status
    Active
    Lot size
    0.09 Acres

    Building Details

    Year built
    2025

    We can help!

    Listing Contact
    Farid Shahid
    Source: Elliman

    Listing Agent: Farid Shahid

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Restaurant Space in Downtown SLO

    The Restaurant at Brickhouse presents a unique opportunity for a full-service dining establishment in downtown San Luis Obispo. This space, approximately 4,000 square feet, is located on the ground floor of Brickhouse, a new luxury development that includes 29 luxury condominiums. The building is situated across from the Creamery District and near Higuera Street, San Luis Obispo's main downtown area. The space features expansive storefront glass, an option for a courtyard patio, dedicated restaurant venting suitable for a 16-foot hood, and a Tenant Improvement Allowance of $40 per square foot. This location is suited for a high-end dining concept seeking visibility and foot traffic in a new development.
    Location Intelligence

    Current Use by Public Records

    Mission Community Bank Bank Josie Traub Marriage Or Relationship Counselor krystal Cleaning & Organizing (Bike/Boat/Book/etc) Store Paramount Properties Real Estate Agency SOURCE LDP Law Firm

    Suggested Use

    Real Estate Agency Restaurant Law Firm Dental Office Spa & Massage Center Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    San Luis Obispo
    County
    San Luis Obispo
    State
    California
    Longitude
    -120.6659839
    Latitude
    35.2777171

    Nearby Similar for Lease

    • $1.70 SF/Yr
      52,467 SF

      Edna Valley Office Building Lease

      Office suite with three offices and a large bullpen area.
      735 Tank Farm Rd, San Luis Obispo, CA 93401
      View Details
    • $1.70 SF/Yr
      52,467 SF

      San Luis Obispo Office Space

      Office suite with 9 spaces, kitchenette, and shared conference room.
      735 Tank Farm Rd, San Luis Obispo, CA 93401
      View Details
    • $2 SF/Yr
      990 SF

      Edna Valley Office Space

      990 SF office suite in San Luis Obispo available for lease.
      735 Tank Farm Rd, San Luis Obispo, CA 93401
      View Details
    • $1.75 SF/Yr
      2,159 SF

      San Luis Obispo Office Space

      Professional office building near airport with upscale finishes and furnishings.
      735 Tank Farm Rd, San Luis Obispo, CA 93401
      View Details
    • $1,861 /Mo

      Professional Office Space Available

      Office space in Aerovista Business Park, excellent parking.
      805 Aerovista Pl, San Luis Obispo, CA 93401
      View Details
    • $2,200 /Mo

      San Luis Obispo Office Suite

      800 SF office suite near downtown San Luis Obispo.
      725 Pacific St, San Luis Obispo, CA 93401
      View Details
    • Contact for pricing

      Warehouse/Showroom Space with Office

      Warehouse/showroom space with office in a popular retail corridor.
      3566 S Higuera St, San Luis Obispo, CA 93401
      View Details
    • Contact for pricing

      Downtown Office Space Available

      Newly improved office suite in a prime downtown location.
      999 Monterey St, San Luis Obispo, CA 93401
      View Details
    • $1.00 SF/Yr

      Professional Office Building Near Airport

      Professional office space near the airport with upscale finishes.
      735 Tank Farm Rd, San Luis Obispo, CA 93401
      View Details
    • Contact for pricing

      Warehouse/Showroom Space with Office

      2,600-5,100 SF warehouse/showroom with office in retail corridor.
      3566 S Higuera St, San Luis Obispo, CA 93401
      View Details
    • Contact for pricing

      Corner Office Suite For Rent

      Corner office suite with kitchenette and open layout available.
      1880 Santa Barbara Ave, San Luis Obispo, CA 93401
      View Details
    • Contact for pricing

      Remodeled Office Space with Patio

      Modern office suite in Downtown San Luis Obispo for rent.
      1080 Court St, San Luis Obispo, CA 93401
      View Details

    FAQs

    What type of property is this?
    Conventional restaurant - Flagship restaurant opportunity in a vibrant, new luxury development.
    Where is this conventional restaurant located?
    The property is located at 581 Higuera St San Luis Obispo, CA.
    What are key features of this property?
    This property features: - Flagship restaurant space in the heart of downtown San Luis Obispo.; - Located in Brickhouse, a brand new luxury development with 29 condominiums.; - High visibility location across from the Creamery District and steps from Higuera Street.
    (818) 961-6508
    Request Owner's contact information
    581 Higuera St San Luis Obispo, CA 93401
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    581 Higuera St
    San Luis Obispo, CA 93401
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    581 Higuera St San Luis Obispo, CA 93401
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Farid Shahid
    Real Estate License ID: 02025653
    (818) 961-6508 (805) 457-5781
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!