Two-Unit Medical Office
For Sale
$1,950,000
1338 Santa Rosa Street, San Luis Obispo, CA 93401
Two independent medical office suites offer flexible medical or general office use in a 1962-built professional building.
Property Size3,861 SF
Price / SF$505.05
Days on Market468
Property Features for 1338 Santa Rosa Street
General Information
Standard status
Active
Size
3,861 SF
Property subtype
Office
Additional Details
Office Units
2
Building Details
Year Built
1962
Listing Agency:
(805) 544-4422
Listed By:
Real Property Investments
Source:
Xome
Added: Apr 21, 2025
Changed: Jul 10
Last Checked: Jul 21 at 3:03AM
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 Real Property Investments
Investment Insights
Based on property information with market context.
The SANTA ROSA PROFESSIONAL BUILDING at 1338-1340 Santa Rosa Street is a two-unit medical office property originally constructed in 1962. The building consists of two separate medical offices with approximately mirror-image floorplans, each sized at about 1,930 square feet. The current use is dental office, and the property can be used for medical and general office use, supporting a variety of professional tenant needs.
The asset is comprised of two independent suites, allowing for either single-tenant occupation or multi-tenant operation. Because the floorplans are designed as mirror images, the two units offer a consistent, predictable configuration for comparable office layouts.
For buyers or tenants looking for established professional space, the building’s existing office configuration and independent unit setup can simplify operations and scheduling compared with shared common layouts. The property’s compatibility with medical or general office use provides additional flexibility for qualifying businesses seeking dedicated, self-contained space within a proven dental-office environment.
The asset is comprised of two independent suites, allowing for either single-tenant occupation or multi-tenant operation. Because the floorplans are designed as mirror images, the two units offer a consistent, predictable configuration for comparable office layouts.
For buyers or tenants looking for established professional space, the building’s existing office configuration and independent unit setup can simplify operations and scheduling compared with shared common layouts. The property’s compatibility with medical or general office use provides additional flexibility for qualifying businesses seeking dedicated, self-contained space within a proven dental-office environment.
Key Highlights
- Two independent medical office suites in the Santa Rosa Professional Building at 1338‑1340 Santa Rosa Street
- Built in 1962 and currently operated as a 2‑unit dental office since construction
- Each suite offers approximately 1,930 SF with mirror‑image floorplans
Financial Insights For Healthcare Medical
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 | $183.0k | $47.40 |
| − Vacancy | −$5.9k | −$1.52 |
| EGI | $177.2k | $45.88 |
| − OpEx | −$70.9k | −$18.35 |
| NOI | $106.3k | $27.53 |
3,861 SF · lease $47.40/SF/yr · vacancy 3.20% · expense 40.00%
Alternative Uses
Best Use
Healthcare Medical
$1.52M
$1.33M – $1.77M
NOI $106,293 @ 7.0% cap · market cap 5.45%
Second Best
Office B
$1.03M
$898.3K – $1.20M
NOI $71,861 @ 7.0% cap · market cap 3.69%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Office units
Location Intelligence
Trade Area within ½ mile
3,714
Businesses Nearby
Under-served
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
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Two independent medical office suites offer flexible medical or general office use in a 1962-built professional building.
Where is this medical office space located?
The property is located at 1338 Santa Rosa Street San Luis Obispo, CA.
What is the asking price?
The asking price for this property is $1,950,000.
What are key features of this property?
This property features: Two independent medical office suites in the Santa Rosa Professional Building at 1338‑1340 Santa Rosa Street; Built in 1962 and currently operated as a 2‑unit dental office since construction; Each suite offers approximately 1,930 SF with mirror‑image floorplans
