Four Industrial Buildings For
For Sale
$2,200,000
Pending
974 Griffin St, Grover Beach, CA 93433
Four industrial buildings on a drive-thru lot in active area.
Property Size14,854 SF
Lot Size0.76 Acres
Days on Market220
Property Features for 974 Griffin St
General Information
Standard status
Pending
Size
14,854 SF
Lot size
0.76 Acres
Property subtype
Industrial
Building Details
Building Size
14,854 SF
Year Built
1995
Listing Agency:
Century 21 Masters
Listed By:
Valerie Walla · License #02217940
(805) 853-8318
Source:
Elliman
Added: Mar 11
Changed: Oct 2
Last Checked: Oct 15 at 2:18AM
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 Century 21 Masters
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Investment Insights
Based on property information with market context.
Four industrial buildings, totaling over 14,000 square feet, are available for purchase. The buildings are situated on a drive-thru lot with double frontage within an active industrial business area. Two of the smaller buildings are currently owner-occupied and will be leased back. A third building is partially occupied on a month-to-month basis, generating $3,375 per month. The fourth building, approximately 5,000 square feet, is fully leased on a three-year term, producing $6,050 per month. The property features 3-phase power and a flexible layout. This presents an opportunity for investors or owner-users seeking both income and functionality in an established commercial corridor. The neighboring parcel at 978 Griffin is also available for $500,000 with the concurrent sale of this property if additional space is needed.
Key Highlights
- Four industrial buildings totaling over 14,000 sqft in an active industrial area.
- Existing leases in place generating income: $3,375/month (partially occupied) and $6,050/month (fully leased).
- Estimated 5.5% CAP Rate with potential to reach 7.6%.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$142,149
Cap Rate
6.46%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,842,980
$2.8M
Cap Rate 7%
$2,030,700
$2.0M
Cap Rate 9%
$1,579,433
$1.6M
Market Conditions
NOI Build-Up for 14,000 SF
Gross rent
$210.0K $15.00/SF
− Vacancy
−$6.9K −$0.50/SF
EGI
$203.1K $14.50/SF
− OpEx
−$60.9K −$4.35/SF
NOI
$142.1K $10.15/SF
Area
San Luis Obispo County, CA
Vacancy
3.30%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,842,980
Cap Rate 7%
$2,030,700
Cap Rate 9%
$1,579,433
Alternative Uses
Best Use
Industrial
$2.03M
$1.78M – $2.37M
NOI $142,149 @ 7.0% cap · market cap 6.46%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$5.51M
$4.82M – $6.42M
NOI $385,419 @ 7.0% cap · market cap 17.52%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
476
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in West region
Frequently Asked Questions
What type of property is this?
Industrial property - Four industrial buildings on a drive-thru lot in active area.
Where is this industrial property located?
The property is located at 974 Griffin St Grover Beach, CA.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: Four industrial buildings totaling over 14,000 sqft in an active industrial area.; Existing leases in place generating income: $3,375/month (partially occupied) and $6,050/month (fully leased).; Estimated 5.5% CAP Rate with potential to reach 7.6%.
