Medical Office and Executive
For Sale
Contact for pricing
805 Aerovista Pl, San Luis Obispo, CA 93401
Modern office buildout includes private offices, a conference room, open bullpens, and a break room.
Property Size4,054 SF
Price / SF$453
Days on Market328
Property Features for 805 Aerovista Pl
General Information
Standard status
Active
Size
4,054 SF
Property subtype
OFFICE
Listing Agency:
Central Commercial Real Estate Group
(805) 548-8686
Listed By:
Hank Niezen · License #01831075
(805) 748-2645
Source:
Moodyscre
Added: Oct 21, 2025
Changed: Aug 14
Last Checked: Sep 12 at 10:31AM
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 Central Commercial Real Estate Group
Investment Insights
Based on property information with market context.
This professional, modern office space is designed for medical and office use and features a tenant-ready interior buildout. The layout includes seven private offices, an executive style conference room, two open bullpens, and a full-size break room or kitchen.
The property is conveniently located on Aerovista Avenue near the airport and SLO Brew Rock, with parking provided for occupants and visitors.
As previously used, the space functioned as an office with an open bullpen area and four private offices, offering flexibility within the existing configuration.
The property is conveniently located on Aerovista Avenue near the airport and SLO Brew Rock, with parking provided for occupants and visitors.
As previously used, the space functioned as an office with an open bullpen area and four private offices, offering flexibility within the existing configuration.
Key Highlights
- Modern office buildout with seven private offices
- Includes an executive‑style conference room
- Two open bullpen areas for collaborative or flexible workspace
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
$75,453
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
4.10%
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%
$1,509,060
$1.5M
Cap Rate 7%
$1,077,900
$1.1M
Cap Rate 9%
$838,367
$838.4K
Market Conditions
NOI Build-Up for 4,054 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
$107.0K $26.40/SF
− Vacancy
−$6.4K −$1.58/SF
EGI
$100.6K $24.82/SF
− OpEx
−$25.2K −$6.20/SF
NOI
$75.5K $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%
$1,509,060
Cap Rate 7%
$1,077,900
Cap Rate 9%
$838,367
Alternative Uses
Best Use
Office B
$1.08M
$943.2K – $1.26M
NOI $75,453 @ 7.0% cap · market cap 4.10%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$1.59M
$1.40M – $1.86M
NOI $111,606 @ 7.0% cap · market cap 6.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
842
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
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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?
Office units - Modern office buildout includes private offices, a conference room, open bullpens, and a break room.
Where is this office units located?
The property is located at 805 Aerovista Pl San Luis Obispo, CA.
What is the asking price?
The asking price for this property is $1,840,500.
What are key features of this property?
This property features: Modern office buildout with seven private offices; Includes an executive‑style conference room; Two open bullpen areas for collaborative or flexible workspace
