Versatile Mixed-Use Arroyo Grande
For Sale
Contact for pricing
Pending
200 Station Way, Arroyo Grande, CA 93420
Mixed-use property with office, retail, and residential spaces.
Property Size19,352 SF
Days on Market860
Property Features for 200 Station Way
General Information
Standard status
Pending
Size
19,352 SF
Class
B
Property subtype
Mixed Use, Office
Zoning
VMU - Village Mixed Use
Occupancy
90%
Building Details
Year Built
2000
Buildings
2
Stories
2
Units
10
Listing Agency:
McCarty Davis Commercial Real Estate
(805) 543-1801
Listed By:
Steve Davis · License #CA 01843738
Source:
Crexi
Added: Apr 15, 2024
Changed: Aug 8
Last Checked: Aug 21 at 9:42PM
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 McCarty Davis Commercial Real Estate
Investment Insights
Based on property information with market context.
The property at 200 & 230 Station Way in Arroyo Grande offers a versatile mixed-use development suitable for both owner-users and investors. The 19,352 square foot property is adjacent to the East Village and provides easy access to US 101. The meticulously designed layout features two finished apartments, suitable for live-work arrangements, and inviting patio spaces. The property caters to a diverse tenant mix. Changes in the facade provide distinct identities to the main suites, creating a comfortable environment.
Key Highlights
- Versatile office/retail development suitable for owner/users and investors.
- Two tastefully finished apartments ideal for live‑work arrangements.
- Located adjacent to the charming East Village.
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
$360,179
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
5.54%
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%
$7,203,580
$7.2M
Cap Rate 7%
$5,145,414
$5.1M
Cap Rate 9%
$4,001,989
$4.0M
Market Conditions
NOI Build-Up for 19,352 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
$510.9K $26.40/SF
− Vacancy
−$30.7K −$1.58/SF
EGI
$480.2K $24.82/SF
− OpEx
−$120.1K −$6.20/SF
NOI
$360.2K $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%
$7,203,580
Cap Rate 7%
$5,145,414
Cap Rate 9%
$4,001,989
Alternative Uses
Best Use
Office B
$5.15M
$4.50M – $6.00M
NOI $360,179 @ 7.0% cap · market cap 5.54%
Second Best
Mixed Use
$3.15M
$2.76M – $3.68M
NOI $220,613 @ 7.0% cap · market cap 3.39%
Theoretical Best
Healthcare Medical
$7.61M
$6.66M – $8.88M
NOI $532,759 @ 7.0% cap · market cap 8.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
833
Businesses Nearby
Explore this area
Business Placement
Demographics for 93420, CA
30,540
Population
13,823
Households
2.2
Avg Household Size
49
Median Age
44%
College-Educated
95%
High-School Grad
197.4 sq mi
ZIP Area
155
Density / Sq Mi
$106,718
Median Household Income
$51,990
Median Earnings
$2,025
Median Rent
$872,200
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use property with office, retail, and residential spaces.
Where is this mixed-use property located?
The property is located at 200 Station Way Arroyo Grande, CA.
What is the asking price?
The asking price for this property is $6,500,000.
What are key features of this property?
This property features: Versatile office/retail development suitable for owner/users and investors.; Two tastefully finished apartments ideal for live‑work arrangements.; Located adjacent to the charming East Village.
