Single-Level Office
For Sale
$325,000
3592 Broad, San Luis Obispo, CA 93401
CS-zoned professional suite with private meeting space, shared work areas, and outdoor patio access.
Property Size576 SF
Price / SF$564.24
Days on Market153
Property Features for 3592 Broad
General Information
Standard status
Active
Size
576 SF
Property subtype
Office
Zoning
CS
Amenities
reception area
private meeting room
open workspace
kitchen/break area
private back patio
building signage
Central Air
3
Greenbelt
Level
Paved. Paved Road, Greenbelt, Level.
Building Details
Year Built
2007
Listing Agency:
BHGRE HAVEN PROPERTIES
(805) 592-2050
Listed By:
Sandra Lee · License #01856768
(805) 550-6052
Source:
Xome
Added: Apr 5
Changed: Sep 3
Last Checked: Sep 4 at 4:39AM
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 BHGRE HAVEN PROPERTIES
Investment Insights
Based on property information with market context.
This 2007 commercial service condominium is configured as a single-level office unit with a reception area, private meeting room, open workspace, kitchen and break area, and a private rear patio. The outdoor area faces a greenbelt and creek setting, while building signage is available for business identification. On-site parking accommodates clients and staff.
The property is located at 3592 Broad ST 104 in San Luis Obispo, with access to San Luis Obispo Regional Airport, downtown San Luis Obispo, and major transportation routes. Neighboring businesses include Black Horse Coffee, Vellum Design Build, and 15 Degree C Wine Shop. The CS zoning designation supports the property’s stated professional, creative, and service-oriented positioning.
The property is located at 3592 Broad ST 104 in San Luis Obispo, with access to San Luis Obispo Regional Airport, downtown San Luis Obispo, and major transportation routes. Neighboring businesses include Black Horse Coffee, Vellum Design Build, and 15 Degree C Wine Shop. The CS zoning designation supports the property’s stated professional, creative, and service-oriented positioning.
Key Highlights
- 2007‑built commercial service condominium at 3592 Broad ST 104, San Luis Obispo, CA 93401
- CS zoning with a stated fit for professional, creative, and service‑oriented uses
- Single‑level layout includes reception, private meeting room, open workspace, kitchen, and break area
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$10,721
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.30%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$214,420
$214.4K
Cap Rate 7%
$153,157
$153.2K
Cap Rate 9%
$119,122
$119.1K
Market Conditions
NOI Build-Up for 576 SF
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.
Gross rent
$15.2K $26.40/SF
− Vacancy
−$912 −$1.58/SF
EGI
$14.3K $24.82/SF
− OpEx
−$3.6K −$6.20/SF
NOI
$10.7K $18.61/SF
Area
San Luis Obispo County, CA
Vacancy
6.00%
Lease Rate
$26.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$214,420
Cap Rate 7%
$153,157
Cap Rate 9%
$119,122
Alternative Uses
Best Use
Office B
$153.2K
$134.0K – $178.7K
NOI $10,721 @ 7.0% cap · market cap 3.30%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$226.5K
$198.2K – $264.3K
NOI $15,857 @ 7.0% cap · market cap 4.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
931
Businesses Nearby
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?
Office units - CS-zoned professional suite with private meeting space, shared work areas, and outdoor patio access.
Where is this office units located?
The property is located at 3592 Broad San Luis Obispo, CA.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: 2007‑built commercial service condominium at 3592 Broad ST 104, San Luis Obispo, CA 93401; CS zoning with a stated fit for professional, creative, and service‑oriented uses; Single‑level layout includes reception, private meeting room, open workspace, kitchen, and break area
