Building Details

Building Size 16,970 SF

Listing Agency: San Luis Obispo

Listed By: Preston Thomas · License #01378821 Show Phone

Source: Elliman

Added: Mar 10 Changed: Aug 16 Last Checked: Aug 16 at 10:33AM

Report an Issue

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 San Luis Obispo

Ask AI about this property

Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

Investment Insights

Based on property information with market context.

This industrial warehouse is located in Grover Beach. Completed in 2025, the new warehouse building offers 16,970 square feet of space. The metal structure features ceiling heights up to 28 feet, which are described as the tallest in the area. It includes 15-foot roll-up doors and a flexible layout that can be divided and customized. The property is designed to support various uses, including manufacturing, distribution, and storage.

Key Highlights

• Brand‑new industrial warehouse building (completed in 2025).
• Up to 28’ ceiling heights, the tallest in the area.
• 16,970 SF of flexible, demisable space ready for customization.**

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$192,489

Cap Rate

4.94%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,849,780 $3.8M

Cap Rate 7%

$2,749,843 $2.7M

Cap Rate 9%

$2,138,767 $2.1M

Is this asking price fair?

Market Conditions

NOI Build-Up for 16,970 SF

Gross rent

$234.2K $13.80/SF

− Vacancy

−$7.7K −$0.46/SF

EGI

$226.5K $13.34/SF

− OpEx

−$34.0K −$2.00/SF

NOI

$192.5K $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 Rate 5%

$3,849,780

Cap Rate 7%

$2,749,843

Cap Rate 9%

$2,138,767

Alternative Uses

Best Use

Warehouse

$2.75M

$2.41M – $3.21M (±1% cap)

NOI $192,489 @ 7.0% cap · market cap 4.94%

Second Best

Industrial

$2.46M

$2.15M – $2.87M (±1% cap)

NOI $172,305 @ 7.0% cap · market cap 4.42%

Theoretical Best

Healthcare Medical

$6.67M

$5.84M – $7.79M (±1% cap)

NOI $467,183 @ 7.0% cap · market cap 11.98%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Unlock full access to Insights Subscribe to Realmo Intelligence

Open Analytics

Current Use

Warehouses

Suggested Use

Top Pick Dental Office Law Firm Building Supply HVAC Service Big Box & Wholesale Store Real Estate Agency

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

477

Businesses Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Demographics for 93433, CA

12,643

Population

5,757

Households

2.2

Avg Household Size

42

Median Age

27%

College-Educated

83%

High-School Grad

2.2 sq mi

ZIP Area

5,747

Density / Sq Mi

$82,534

Median Household Income

$39,412

Median Earnings

$1,921

Median Rent

$691,900

Median Home Value

Market

Vacancy Rate% for Industrial in West region

3.7% 2019

4.3% 2020

2.6% 2021

2.5% 2022

4.8% 2023

6.9% 2024

7.9% 2025

Similar For Sale Nearby

See more

Fourplex with Covered Carport

956 S 13th, Grover Beach, CA 93433

$1,200,000

View details

Ground-Floor Retail Space with Patio

401 W Grand Avenue 1-2, Grover Beach, CA 93433

$1,049,000

2,865 SF

View details

Two-Home Residential Income Property

1499 Farroll, Grover Beach, CA 93433

$1,195,000

0.83 Acres

View details

78-Key Branded Hotel

775 North Oak Park Boulevard, Grover Beach, CA 93433

Contact for pricing

43,040 SF

View details

Grover Beach Redevelopment Opportunity

294 N 4th St, Grover Beach, CA 93433

$999,000

1,600 SF

View details

14-Unit Townhome-Style Apartment Community

950 S 14th St, Grover Beach, CA 93433

$4,900,000

View details

Duplex with Private Two-Car Garages

359-361 N. 3rd Street, Grover Beach, CA 93433

Contact for pricing

2,080 SF

View details

Brand-New Park Model Home

1477 Grand Ave, 52, Grover Beach, CA 93433

$109,950

377 SF

View details

Renovated Residential Income Property

Grover Beach, CA 93433

$559,000

View details

Similar Off Market Nearby

• Mr Storage Oceano — 1530 Railroad St, Oceano, CA 93445
• Five Cities Storage Inc — 1425 S 4th St, Oceano, CA 93445
• King's Mini Storage — 1399 S 4th St, Oceano, CA 93445
• 4th Street Mini Storage — 1451 S 4th St, Oceano, CA 93445
• Fort Locks Self Storage — 1088 Huston St, Grover Beach, CA 93433

Frequently Asked Questions

What type of property is this?

Warehouse - New 16,970 SF industrial warehouse completed in 2025.

Where is this warehouse located?

The property is located at 938 Huston St Grover Beach, CA.

What is the asking price?

The asking price for this property is $3,900,000.

What are key features of this property?

This property features: Brand‑new industrial warehouse building (completed in 2025).; Up to 28’ ceiling heights, the tallest in the area.; 16,970 SF of flexible, demisable space ready for customization.**