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    FOR LEASE
    Strip malls

    570 Higuera St, San Luis Obispo, CA 93401

    16,266 SF 0.75 ac lot Built 1953
    Entity Owned 2-yr Hold Absentee Owner ~ Est. High Equity
    Property ID
    US09-2156711
    Property summary
    AI-generated overview

    This ±1,409 square foot restaurant space in San Luis Obispo's Creamery Marketplace offers a fantastic opportunity for a quick-service restaurant or similar business. Located at 570 Higuera Street, 93401, this second-generation space boasts valuable existing improvements, minimizing upfront build-out costs. The property benefits from excellent co-tenancy within the vibrant Creamery Marketplace, ensuring high foot traffic and visibility. Outdoor seating is available, enhancing the dining experience and maximizing capacity. The location is highly walkable, catering to the bustling downtown crowd. Currently occupied, the tenant will vacate in September 2024. The landlord is offering a new tenant security deposit and the option to extend the existing lease to a five-year term, providing long-term stability. This turnkey solution presents a rare chance to establish a thriving business in a prime San Luis Obispo County location. The property is situated in a high-traffic area with excellent visibility and accessibility. This is an exceptional opportunity for a business seeking a well-established location with significant potential for growth.

    Property profile
    Verified
    Property type Strip malls
    Use group SHOPPING CENTER, STRIP CENTER
    Year built 1953
    Construction WOOD
    Total area 16,266 SF
    Lot 0.75 ac (32,670 SF)
    Zoning code CC
    APN 002-402-045
    UPID US09-2156711
    Cap rate & NOI
    Priority signal for investors
    Implied cap rate, NOI & suggested price
    Cap rate vs submarket · NOI estimate · 3 price anchors
    Implied cap rate, NOI & suggested price
    Cap vs submarket · NOI estimate · 3 price anchors
    Current use
    Occupant on record · Public records
    • Bear & The Wren Restaurant
    • Nite Creamery Grocery & Convenience Store Specialty Food Shop
    • MagneButton Clothing Store
    • Gold Land BBQ Restaurant
    • breda Food Processing Plant
    Value estimations
    Realmo proprietary · 4 methods
    AI Approach AI
    $1.66M
    CAP Approach CAP
    by Request
    Comparable Approach Comparable
    by Request
    Blend (final) Blend
    $1.42M
    Owner & transaction history
    Lexington Real Property Partners Ll · 2 yrs held
    Lexington Real Property Partners Ll
    since 2023
    Last sale
    $1.2M
    7 recorded transactions
    2023
    2019
    2016
    2014
    1997
    $1.2M
    1969
    1969
    Zoning & alternative use
    CC · San Luis Obispo, CA
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
    Top alternative use upside
    Retail stores $2.2M +74.1%
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    More about this property
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