Office Suites with Elevator
689 Tank Farm Rd San Luis Obispo, CA 93401
For Sale
Contact for pricing
Two leased second-floor office suites served by an elevator, with common restrooms and lobby space
Property Size8,051 SF
Price / SF$316.73
Days on Market205
Property Features for 689 Tank Farm Rd
General Information
Standard status
Active
Size
8,051 SF
Property subtype
OFFICE
Listing Agency:
Trujillo Commercial Real Estate Group
(805) 439-4733
Listed By:
Rod Trujillo · License #01388764
Source:
Moodyscre
Added: Jan 6
Changed: Jul 29
Last Checked: Jul 29 at 2:08PM
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 Trujillo Commercial Real Estate Group
Investment Insights
Based on property information with market context.
This office building offers two leased second-floor suites, served by an elevator and supported by common area restrooms throughout. Suite 230 is 5,561 SF and is leased; it features an open floorplan with eight offices, a conference room, and a lobby area. Suite 240 is 2,490 SF and is also leased.
The property is positioned on the corner of Broad Street and Tank Farm Road, providing easy access to Downtown and the Highway, with SLO Airport minutes away. These second-floor suites also offer views.
Designed for professional office use, the suites combine practical internal layout elements, including multiple offices, a dedicated conference room, and shared common areas within the building.
The property is positioned on the corner of Broad Street and Tank Farm Road, providing easy access to Downtown and the Highway, with SLO Airport minutes away. These second-floor suites also offer views.
Designed for professional office use, the suites combine practical internal layout elements, including multiple offices, a dedicated conference room, and shared common areas within the building.
Key Highlights
- Leased second‑floor office suites in a professionally served building
- Suite 230: 5,561 SF with open floorplan, 8 offices, conference room, and lobby
- Suite 240: 2,490 SF leased office suite
Financial Insights For Office B
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 | $212.5k | $26.40 |
| − Vacancy | −$12.8k | −$1.58 |
| EGI | $199.8k | $24.82 |
| − OpEx | −$49.9k | −$6.20 |
| NOI | $149.8k | $18.61 |
8,051 SF · lease $26.40/SF/yr · vacancy 6.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$2.14M
$1.87M – $2.50M
NOI $149,845 @ 7.0% cap · market cap 5.88%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$3.17M
$2.77M – $3.69M
NOI $221,643 @ 7.0% cap · market cap 8.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Office units - Two leased second-floor office suites served by an elevator, with common restrooms and lobby space
Where is this office units located?
The property is located at 689 Tank Farm Rd San Luis Obispo, CA.
What is the asking price?
The asking price for this property is $2,550,000.
What are key features of this property?
This property features: Leased second‑floor office suites in a professionally served building; Suite 230: 5,561 SF with open floorplan, 8 offices, conference room, and lobby; Suite 240: 2,490 SF leased office suite
