1326 Chorro St San Luis Obispo, CA 93401
- Office buildings
- 3,296 SF
- 0.14 lot acres
Current Use by Public Records
- Leonard Group / Corporate Office
- Lisa Leonard Designs (Corporate HQ) / Jewelry Designer
- Omni Design Group Inc / Architectural Designer / Architecture Firm
- M A De La Motte Jr Law Offices / Attorney
- Thomas M Giovacchini Law Firm / Attorney
Property Details for 1326 Chorro St
- Year built
- 1968
- Construction
- WOOD
- Lot size
- 0.14 lot acres
- Property size
- 3,296 SF
- Zone code
- O
- Property type
- Office buildings
- APN
- 003-528-004
- APU
- 3528004
Description
This exceptional 3,296 sq ft office building in downtown San Luis Obispo presents a unique investment opportunity. Built in 1968 and extensively renovated in 2023, this two-story, single-unit structure boasts a blend of mid-century modern charm and contemporary functionality. The property features eight private offices, a well-appointed conference room, a kitchen, and two bathrooms. Large windows, vaulted ceilings, high-end finishes, and LED lighting create an inviting and productive workspace. The building also includes a large outdoor balcony and eight on-site parking spaces. Situated on a 5,965 sq ft lot, the property is zoned for office use, but the possibility of conversion to residential units or expansion should be explored with the City of San Luis Obispo. Recent upgrades include a new roof, gutters, wastewater improvements, balcony railing, and interior paint. The asking price is $1,895,000, with a net operating income (NOI) of $98,760 and a 5.21% cap rate. The property is available for owner/user occupancy with a triple net (NNN) lease, and the occupancy date is September 30, 2024. This standalone building offers a rare combination of location, quality, and potential, making it an ideal investment for discerning buyers. The property's APN is 003528004.
Value Estimations
-
CAP approach
- CAP Return
- Estimation
- 6%
- $1,090,000
- 6.5%
- $1,005,000
- 7%
- $935,000
-
Comparable approach
- Method
- Estimation
- AI Estimate
- $1,152,000
Market price range: $385k - $1.21M -
Alternative Use
- Use
- Estimation
- OFFICE BUILDING
- $1,495,000 Current use
- COMMERCIAL (GENERAL)
- $1,735,000 Change: +16% Conversion: Easy
- AUTO REPAIR, GARAGE
- $1,505,000 Change: +1% Conversion: Difficult
- MEDICAL BUILDING
- $1,405,000 Change: -6% Conversion: Easy
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Location Insight
- Map
- Local Demand
- City
- San Luis Obispo
- County
- San Luis Obispo
- State
- California
- Longitude
- -120.661
- Latitude
- 35.2781
- CBSA code
- 42020
- CBSA name
- SAN LUIS OBISPO-PASO ROBLES, CA METROPOLITAN STATISTICAL AREA
