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Vacant-User

867 Higuera St

867 Higuera St, San Luis Obispo, CA 93401

Listing Price: $4,500,000

Gross SF
7,000
Rentable SF
7,000
Price/Gross SF
$642.86
Lot Size
0.16 acres
Year Built
1950

Investment Overview

Marcus & Millichap as exclusive advisor is pleased to present a premier opportunity to acquire 867 Higuera St (“the Property”), a rare trophy asset in Downtown San Luis Obispo. The property consists of a 7,000 square foot retail building situated on 7,000 square feet of Downtown Commercial (C-D-H) zoned land within the Historic Overlay. The subject property will be delivered vacant at the close of escrow, making this an ideal opportunity for an owner-user buyer looking for a rare trophy asset location or an investor or developer looking to acquire a main & main location with significant re-development potential. 867 Higuera St is situated on 7,000 square feet of land zoned C-D-H, with the ability to build between 17 to 23 apartment units on this parcel. There is significant development in the immediate area, with thousands of new residential units coming online as well as high-end commercial and mixed-use space. The growth in the immediate area creates significant upside for this prime location. 867 Higuera St is perfectly placed in the heart of downtown San Luis Obispo, adjacent to Cal Poly, a top 10 public university in the nation. 867 Higuera St was previously occupied by Charles Shoes, a successfully operated family-owned shoe store in the area since 1966. The subject property benefits from excellent frontage with 50 linear feet along Higuera St and unique signage which creates ideal visibility. Daily traffic counts exceed 10,924 vehicles per day, further adding to the high exposure of the subject property. The building’s glass façade lining Higuera creates a strong and memorable impression and exposes the interior of the building to the outside natural light. The flat roof also gives the next owner flexibility by being able to add a roof top deck. This opportunity will be free and clear of existing debt and is being offered on a best offer basis for fee simple interest in the building and land thereunder.

Investment Highlights

  • Rare Trophy Asset in Downtown SLO - Generation Asset - Long Term Value
  • One of "America's Best Main Streets"
  • Thriving Central California Market
  • Future Redevelopment Opportunity

Exclusively Listed By

Financing By

Vacant-User

867 Higuera St

Listing Price: $4,500,000

Gross SF
7,000
Rentable SF
7,000
Price/Gross SF
$642.86
Lot Size
0.16 acres
Year Built
1950

Investment Highlights

  • Rare Trophy Asset in Downtown SLO - Generation Asset - Long Term Value
  • One of "America's Best Main Streets"
  • Thriving Central California Market
  • Future Redevelopment Opportunity

Investment Overview

Marcus & Millichap as exclusive advisor is pleased to present a premier opportunity to acquire 867 Higuera St (“the Property”), a rare trophy asset in Downtown San Luis Obispo. The property consists of a 7,000 square foot retail building situated on 7,000 square feet of Downtown Commercial (C-D-H) zoned land within the Historic Overlay. The subject property will be delivered vacant at the close of escrow, making this an ideal opportunity for an owner-user buyer looking for a rare trophy asset location or an investor or developer looking to acquire a main & main location with significant re-development potential. 867 Higuera St is situated on 7,000 square feet of land zoned C-D-H, with the ability to build between 17 to 23 apartment units on this parcel. There is significant development in the immediate area, with thousands of new residential units coming online as well as high-end commercial and mixed-use space. The growth in the immediate area creates significant upside for this prime location. 867 Higuera St is perfectly placed in the heart of downtown San Luis Obispo, adjacent to Cal Poly, a top 10 public university in the nation. 867 Higuera St was previously occupied by Charles Shoes, a successfully operated family-owned shoe store in the area since 1966. The subject property benefits from excellent frontage with 50 linear feet along Higuera St and unique signage which creates ideal visibility. Daily traffic counts exceed 10,924 vehicles per day, further adding to the high exposure of the subject property. The building’s glass façade lining Higuera creates a strong and memorable impression and exposes the interior of the building to the outside natural light. The flat roof also gives the next owner flexibility by being able to add a roof top deck. This opportunity will be free and clear of existing debt and is being offered on a best offer basis for fee simple interest in the building and land thereunder.

Exclusively Listed By

Financing By

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