New Industrial Warehouse in
For Sale
$3,900,000
938 Huston St, Grover Beach, CA 93433
New 16,970 SF industrial warehouse completed in 2025.
Property Size16,970 SF
Lot Size0.78 Acres
Price / SF$229.82
Days on Market154
Property Features for 938 Huston St
General Information
Standard status
Active
Size
16,970 SF
Lot size
0.78 Acres
Property subtype
Industrial
Building Details
Building Size
16,970 SF
Listing Agency:
Colliers - San Luis Obispo, California
(805) 544-3900
Listed By:
Preston Thomas · License #01378821
(805) 544-3900
Source:
Elliman
Added: Mar 10
Changed: Aug 8
Last Checked: Aug 8 at 6:17AM
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 Colliers - San Luis Obispo, California
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 = 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
$192,489
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
4.94%
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%
$3,849,780
$3.8M
Cap Rate 7%
$2,749,843
$2.7M
Cap Rate 9%
$2,138,767
$2.1M
Market Conditions
NOI Build-Up for 16,970 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
$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 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%
$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
NOI $192,489 @ 7.0% cap · market cap 4.94%
Second Best
Industrial
$2.46M
$2.15M – $2.87M
NOI $172,305 @ 7.0% cap · market cap 4.42%
Theoretical Best
Healthcare Medical
$6.67M
$5.84M – $7.79M
NOI $467,183 @ 7.0% cap · market cap 11.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
476
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- 4th Street Mini Storage — 1451 S 4th St, Oceano, CA 93445
- King's Mini Storage — 1399 S 4th St, Oceano, CA 93445
- Fort Locks Self Storage — 1088 Huston St, Grover Beach, CA 93433
- Five Cities Storage Inc — 1425 S 4th St, Oceano, CA 93445
- Mr Storage Oceano — 1530 Railroad St, Oceano, CA 93445
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.**
