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1127 Broad St 3,795 SF 100% Leased Retail Building San Luis Obispo, CA 93401 $2,000,000 ($527.01/SF) 5.79% Cap Rate
Executive Summary
Opportunity to acquire a two-tenant commercial investment in the heart of Downtown San Luis Obispo. Located on Broad Street between Higuera and Marsh, 1127 Broad Street offers approximately 3,718 square feet of storefront space divided into two commercial suites, with approximately 50 feet of Broad Street frontage on a 0.11-acre parcel.
The property is currently occupied by Honey Belly Korean BBQ in Suite B and The Gold Bar Piercing in Suite A, creating a complementary mix of service retail and destination dining.
Positioned within San Luis Obispo’s vibrant downtown core, the property benefits from excellent pedestrian and vehicle exposure and immediate proximity to popular restaurants, shopping, hotels, nightlife, and entertainment. The in-place tenancy, prominent Broad Street presence, and flexible two-suite configuration make this a compelling opportunity for an investor seeking current occupancy with potential for long-term appreciation and future repositioning. 3 adjacent properties are available for sale, combining them all would provide genuine development potential.
The property is currently occupied by Honey Belly Korean BBQ in Suite B and The Gold Bar Piercing in Suite A, creating a complementary mix of service retail and destination dining.
Positioned within San Luis Obispo’s vibrant downtown core, the property benefits from excellent pedestrian and vehicle exposure and immediate proximity to popular restaurants, shopping, hotels, nightlife, and entertainment. The in-place tenancy, prominent Broad Street presence, and flexible two-suite configuration make this a compelling opportunity for an investor seeking current occupancy with potential for long-term appreciation and future repositioning. 3 adjacent properties are available for sale, combining them all would provide genuine development potential.
Property Facts
Sale Type
Investment NNN
Sale Conditions
Property Type
Retail
Property Subtype
Storefront
Building Size
3,795 SF
Building Class
C
Year Built
1930
Price
$2,000,000
Price Per SF
$527.01
Cap Rate
5.79%
NOI
$115,800
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.79
Lot Size
0.11 AC
Zoning
C-D - Commercial - Downtown
Frontage
50’ on Broad St
Amenities
- Restaurant
Very walkable
80/100
Exceptionally drivable
100/100
Limited public transit
30/100
Moderately bikeable
70/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 002-422-016 | Improvements Assessment | $740,000 |
| Land Assessment | $860,000 | Total Assessment | $1,600,000 |
Property Taxes
Parcel Number
002-422-016
Land Assessment
$860,000
Improvements Assessment
$740,000
Total Assessment
$1,600,000
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1127 Broad St