Grover Beach Industrial
For Sale
$695,000
Pending
967 Huber St, Grover Beach, CA 93433
Unique industrial workspace in Grover Beach's 'Green Zone'.
Property Size2,168 SF
Lot Size0.11 Acres
Days on Market153
Property Features for 967 Huber St
General Information
Standard status
Pending
Size
2,168 SF
Lot size
0.11 Acres
Property subtype
Industrial
Building Details
Building Size
2,168 SF
Year Built
1989
Units
1
Listing Agency:
(805) 864-2566
Listed By:
David Hubbell
Source:
Elliman
Added: Mar 10
Changed: Aug 8
Last Checked: Aug 8 at 4:55AM
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 David Hubbell
Investment Insights
Based on property information with market context.
This one-of-a-kind industrial workspace is located in Grover Beach's "Green Zone" Cannabis Business District. The property features an established licensed commercial kitchen space, making it suitable as a Type N infusion facility and/or Type 6 Manufacturing facility. Its central location also makes it suitable for a Type 11 Distribution facility for distribution throughout California. The commercial kitchen space could also function as a commissary, catering company, ghost kitchen, food truck or food delivery company, co-op, bakery, or other consumable related manufacturing or processing operation. The commercial building offers approximately 2100 sq ft of workspace and three-phase electrical meters for heavy manufacturing, potentially accommodating multiple operators or tenants. The main floor includes a large built-in smokehouse, multiple walk-in refrigeration/freezer units, a three-compartment sink and wash area, and wall-to-wall floor drains for easy cleanup. The second floor provides an office space with a bathroom and shower, along with ample storage spaces throughout.
Key Highlights
- Located in the "Green Zone" Cannabis Business District, ideal for Type N infusion and/or Type 6 Manufacturing facility.
- Established Licensed Commercial Kitchen space.
- Suitable for Type 11 Distribution facility with central location for California distribution.
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
$30,048
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
4.32%
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%
$600,960
$601.0K
Cap Rate 7%
$429,257
$429.3K
Cap Rate 9%
$333,867
$333.9K
Market Conditions
NOI Build-Up for 2,100 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
$42.1K $20.04/SF
− Vacancy
−$2.0K −$0.96/SF
EGI
$40.1K $19.08/SF
− OpEx
−$10.0K −$4.77/SF
NOI
$30.0K $14.31/SF
Area
San Luis Obispo County, CA
Vacancy
4.80%
Lease Rate
$20.04 /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%
$600,960
Cap Rate 7%
$429,257
Cap Rate 9%
$333,867
Alternative Uses
Best Use
Specialty Retail
$429.3K
$375.6K – $500.8K
NOI $30,048 @ 7.0% cap · market cap 4.32%
Second Best
Warehouse
$340.3K
$297.8K – $397.0K
NOI $23,820 @ 7.0% cap · market cap 3.43%
Theoretical Best
Healthcare Medical
$825.9K
$722.7K – $963.6K
NOI $57,813 @ 7.0% cap · market cap 8.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
434
Businesses Nearby
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
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Frequently Asked Questions
What type of property is this?
Manufacturing property - Unique industrial workspace in Grover Beach's 'Green Zone'.
Where is this manufacturing property located?
The property is located at 967 Huber St Grover Beach, CA.
What is the asking price?
The asking price for this property is $695,000.
What are key features of this property?
This property features: Located in the "Green Zone" Cannabis Business District, ideal for Type N infusion and/or Type 6 Manufacturing facility.; Established Licensed Commercial Kitchen space.; Suitable for Type 11 Distribution facility with central location for California distribution.
