Established Commercial Property For
1150 Main Street Morro Bay, CA 93442
For Sale
$995,000
2,322 SF commercial property with consistent rental income.
Property Size2,322 SF
Lot Size0.41 Acres
Price / SF$428.51
Days on Market798
Property Features for 1150 Main Street
General Information
- Standard status
- Active
- Size
- 2,322 SF
- Lot size
- 0.41 Acres
- Property subtype
- Commercial/Industrial
Building Details
- Year Built
- 1958
Listing Agency:
Coast Realty
(805) 801-0268
Listed By:
Christopher Bath · License #01231010
(805) 801-0268
Source:
Exitrealty
Added: May 21, 2024
Changed: Jul 10
Last Checked: Jul 23 at 4:07AM
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 Coast Realty
Investment Insights
Based on property information with market context.
This commercial property offers an investment opportunity, featuring a 2,322 square foot building on a 17,860 square foot lot. The property is located in a high-traffic area. It comprises two buildings currently occupied by an Auto Mechanic and a Machine Shop, ensuring rental income. Note that the businesses are not for sale. The Machine Shop received a new roof in 2019, and the front facade was refreshed in 2018, enhancing the property's aesthetic appeal and structural integrity. This property may suit investors looking to expand their real estate portfolio or entrepreneurs seeking a location for their next venture.
Key Highlights
- Prime commercial property in a high‑traffic location.
- Substantial 17,860 square foot lot.
- Consistent rental income from established tenants (Auto Mechanic and Machine Shop).
Financial Insights For Retail
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 | $55.7k | $24.00 |
| − Vacancy | −$1.8k | −$0.79 |
| EGI | $53.9k | $23.21 |
| − OpEx | −$16.2k | −$6.96 |
| NOI | $37.7k | $16.25 |
2,322 SF · lease $24.00/SF/yr · vacancy 3.30% · expense 30.00%
Alternative Uses
Best Use
Retail
$538.9K
$471.5K – $628.7K
NOI $37,722 @ 7.0% cap · market cap 3.79%
Second Best
Industrial
$336.8K
$294.7K – $392.9K
NOI $23,576 @ 7.0% cap · market cap 2.37%
Theoretical Best
Healthcare Medical
$913.2K
$799.1K – $1.07M
NOI $63,924 @ 7.0% cap · market cap 6.42%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Central Coast Auto ...
Sustainability Organization
Similar Off Market Nearby
- Wimmer's Automotive & Hybrid Repair & Smog — 899 Piney Way, Morro Bay, CA 93442
- Atascadero Glass Inc — Morro Bay, CA 93442
- Jim's Automotive & Hybrid — 660 Harbor St, Morro Bay, CA 93442
- MAFFEIS Nitrogen Tire Service — Greater Central Coast, Morro Bay, CA 93442
- Used Oil Collection Recycling Center — 1196 Front St, Morro Bay, CA 93442
FAQs
What type of property is this?
Auto shop - 2,322 SF commercial property with consistent rental income.
Where is this auto shop located?
The property is located at 1150 Main Street Morro Bay, CA.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: Prime commercial property in a high‑traffic location.; Substantial 17,860 square foot lot.; Consistent rental income from established tenants (Auto Mechanic and Machine Shop).
