Multi-Tenant Industrial
For Sale
$2,495,000
Pending
8981 La Linia AVE, Atascadero, CA 93422
Two free-standing industrial buildings with grade-level manual roll-up doors, fenced parking, and billboard income, fully occupied.
Property Size18,300 SF
Lot Size1.08 Acres
Days on Market121
Property Features for 8981 La Linia AVE
General Information
Standard status
Pending
Size
18,300 SF
Lot size
1.08 Acres
Property subtype
Commercial/Industrial
Zoning
CS
Occupancy
100%
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Year Built
1985
Tenancy
Multi
Listing Agency:
Pippin Real Estate
Listed By:
Terry Pippin · License #01079616
(805) 459-7363
Source:
Exitrealty
Added: May 7
Changed: Aug 8
Last Checked: Jul 23 at 8:19AM
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 Pippin Real Estate
Investment Insights
Based on property information with market context.
This multi-tenant industrial and commercial facility consists of two free-standing buildings constructed in 1985, totaling 18,300 square feet of gross and rentable building area on 1.08 acres. The buildings are steel-frame construction on concrete slab foundations, with several grade-level manual roll-up doors. Exterior improvements include paved parking, perimeter fencing, and landscaping.
The property borders Highway 101 and includes additional income from a billboard. It is centrally located in the City of Atascadero and is zoned CS/Commercial services.
The facility is 100% occupied, with original ownership and long-standing tenants. It presents a straightforward, stable operating profile with predictable scheduled growth, per the seller’s remarks.
The property borders Highway 101 and includes additional income from a billboard. It is centrally located in the City of Atascadero and is zoned CS/Commercial services.
The facility is 100% occupied, with original ownership and long-standing tenants. It presents a straightforward, stable operating profile with predictable scheduled growth, per the seller’s remarks.
Key Highlights
- Two free‑standing industrial/commercial buildings built in 1985 totaling 18,300 sq. ft. (gross and rentable) on 1.08 acres
- Bordering Highway 101, centrally located in the City of Atascadero
- 100% occupied with several long‑standing tenants
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
$207,575
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
8.32%
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%
$4,151,500
$4.2M
Cap Rate 7%
$2,965,357
$3.0M
Cap Rate 9%
$2,306,389
$2.3M
Market Conditions
NOI Build-Up for 18,300 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
$252.5K $13.80/SF
− Vacancy
−$8.3K −$0.46/SF
EGI
$244.2K $13.34/SF
− OpEx
−$36.6K −$2.00/SF
NOI
$207.6K $11.34/SF
Area
San Luis Obispo County, CA
Vacancy
3.30%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
15.00%
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%
$4,151,500
Cap Rate 7%
$2,965,357
Cap Rate 9%
$2,306,389
Alternative Uses
Best Use
Warehouse
$2.97M
$2.59M – $3.46M
NOI $207,575 @ 7.0% cap · market cap 8.32%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$7.20M
$6.30M – $8.40M
NOI $503,798 @ 7.0% cap · market cap 20.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
524
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 93422, CA
33,041
Population
13,702
Households
2.4
Avg Household Size
42
Median Age
31%
College-Educated
93%
High-School Grad
68.8 sq mi
ZIP Area
480
Density / Sq Mi
$89,916
Median Household Income
$46,939
Median Earnings
$1,841
Median Rent
$692,100
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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- Mini U Storage — 9300 El Camino Real, Atascadero, CA 93422
- Downtown Mini Storage — 9200 El Camino Real, Atascadero, CA 93422
- Palomar Self Storage — 8842 Palomar Ave, Atascadero, CA 93422
Frequently Asked Questions
What type of property is this?
Warehouse - Two free-standing industrial buildings with grade-level manual roll-up doors, fenced parking, and billboard income, fully occupied.
Where is this warehouse located?
The property is located at 8981 La Linia AVE Atascadero, CA.
What is the asking price?
The asking price for this property is $2,495,000.
What are key features of this property?
This property features: Two free‑standing industrial/commercial buildings built in 1985 totaling 18,300 sq. ft. (gross and rentable) on 1.08 acres; Bordering Highway 101, centrally located in the City of Atascadero; 100% occupied with several long‑standing tenants
