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3195 McMillan San Luis Obispo, CA

$3,100,000

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Property Description

This Retail/Service Complex offers prospective investors and owner/users an opportunity to acquire a 14,152 SF high exposure, two building, industrial flex project centrally located in San Luis Obispo. The property is located at 3195 McMillan Avenue, roughly 1.5 miles from Downtown and just off one of the busiest arteries in town (Hwy 227/Broad Street). The two very versatile concrete block buildings are composed of five tenant suites, and allows for many types of uses. The property benefits from a high exposure corner location, which gives great retail presence to industrial/service uses.

3195 McMillan Avenue is located at the intersection of Orcutt Road and McMillan Avenue. Currently there are four tenants in the complex and the property is 82% occupied. There are recent vacancies however in today’s market they should fill in a short period of time. The property provides 36 vehicle parking spaces, one of which is handicapped accessible.

The buildings include a combination of storefronts and roll-up doors. The storefronts can be converted to roll-up doors, allowing a wide variety of manufacturing/service uses.

Proforma NOI is a 6.25% +/- return. Great return for the San Luis Obispo marketplace.

NOI: $190,885

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Property Information

  • Address: 3195 McMillan, San Luis Obispo, CA 93401. 
  • Price: $3,100,000 
  • MLS #: SP17171261 
  • Listing Courtesy of: Rossetti Company 
  • City: San Luis Obispo 
  • Postal Code: 93401 
  • County: San Luis Obispo 

Other

  • Description: This Retail/Service Complex offers prospective investors and owner/users an opportunity to acquire a 14,152 SF high exposure, two building, industrial flex project centrally located in San Luis Obispo. The property is located at 3195 McMillan Avenue, roughly 1.5 miles from Downtown and just off one of the busiest arteries in town (Hwy 227/Broad Street). The two very versatile concrete block buildings are composed of five tenant suites, and allows for many types of uses. The property benefits from a high exposure corner location, which gives great retail presence to industrial/service uses.

    3195 McMillan Avenue is located at the intersection of Orcutt Road and McMillan Avenue. Currently there are four tenants in the complex and the property is 82% occupied. There are recent vacancies however in today’s market they should fill in a short period of time. The property provides 36 vehicle parking spaces, one of which is handicapped accessible.

    The buildings include a combination of storefronts and roll-up doors. The storefronts can be converted to roll-up doors, allowing a wide variety of manufacturing/service uses.

    Proforma NOI is a 6.25% +/- return. Great return for the San Luis Obispo marketplace.

    NOI: $190,885 
  • List Date: July 26, 2017 
  • Status: Active 
  • Directions: Orcutt Road and Broad Street 

Other

  • Office ID: 134967 

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Based on information from California Regional Multiple Listing Service, Inc. as of October 22nd, 2017 at 04:39:51AM UTC. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.