Santa Rosa Professional Building
1338 Santa Rosa St, San Luis Obispo, CA 93401
For Sale
$1,950,000
Two-unit medical/general office building constructed in 1962.
Property Size3,861 SF
Lot Size0.34 Acres
Price / SF$505.18
Days on Market245
Property Features for 1338 Santa Rosa St
General Information
Standard status
Size
Lot size
Property subtype
Building Details
Building Size
Year Built
Listing Agency:
Real Property Investments
Listed By:
Thomas Swem
(805) 544-4422
Source:
Elliman
Added: Mar 10
Changed: Aug 12
Last Checked: Aug 12 at 9:50AM
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
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Investment Insights
Based on property information with market context.
The Santa Rosa Professional Building, located at 1338-1340 Santa Rosa Street, has operated as a two-unit dental office since its construction in 1962. The property features two independent medical offices with approximately mirror-image floorplans, each offering 1930 square feet. The property is suitable for either medical or general office use.
Key Highlights
- Two independent office units, each approximately 1930 sqft.
- Suitable for medical or general office use.
- Established history as a dental office building since 1962.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$106,265
Cap Rate
5.45%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,125,300
$2.1M
Cap Rate 7%
$1,518,071
$1.5M
Cap Rate 9%
$1,180,722
$1.2M
Market Conditions
NOI Build-Up for 3,860 SF
Gross rent
$183.0K $47.40/SF
− Vacancy
−$5.9K −$1.52/SF
EGI
$177.1K $45.88/SF
− OpEx
−$70.8K −$18.35/SF
NOI
$106.3K $27.53/SF
Area
San Luis Obispo County, CA
Vacancy
3.20%
Lease Rate
$47.40 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,125,300
Cap Rate 7%
$1,518,071
Cap Rate 9%
$1,180,722
Alternative Uses
Best Use
Healthcare Medical
$1.52M
$1.33M – $1.77M
NOI $106,265 @ 7.0% cap · market cap 5.45%
Second Best
Office B
$1.03M
$898.0K – $1.20M
NOI $71,842 @ 7.0% cap · market cap 3.68%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
3,872
Businesses Nearby
Balanced
Demand for This Use
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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
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Market
Vacancy Rate% for Office in West region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Two-unit medical/general office building constructed in 1962.
Where is this medical office space located?
The property is located at 1338 Santa Rosa St 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 office units, each approximately 1930 sqft.; Suitable for medical or general office use.; Established history as a dental office building since 1962.
