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1150 Palm St 9,767 SF Office Building San Luis Obispo, CA 93401 $4,400,000 ($450.50/SF) 6% Cap Rate
Investment Highlights
- Located in desireable downtown San Luis Obispo
- Staff kitchen and dining area, kitchenette upstairs as well as built-in refrigerator and sink in main conference room
- 29 parking spaces in private parking lot with two streets for ingress and egress
- High fiber optics and security system
- Private shower and lockers for staff use
- Beautiful renovations makes a great place for staff and visitors with lots of natural light and outdoor scenic views
Executive Summary
This beautifully renovated office building located on large corner lot in downtown San Luis Obispo was originally constructed and later upgraded to suit the needs of its current long-term tenants. The property is fully leased under a secure triple net (NNN) lease, ensuring investors a stable and predictable income stream. Tenants are committed to remaining in possession, providing additional peace of mind for buyers seeking a turnkey investment. The building is owned by a partnership that includes both retired and current partners of the firm, who are also the tenants under the existing lease. Lease to remain in place. Please contact broker for further lease information.
Property Facts
Sale Type
Investment NNN
Property Type
Office
Building Size
9,767 SF
Building Class
B
Year Built/Renovated
1986/2012
Price
$4,400,000
Price Per SF
$450.50
Cap Rate
6%
NOI
$264,000
Tenancy
Single
Building Height
2 Stories
Typical Floor Size
4,884 SF
Building FAR
0.46
Lot Size
0.48 AC
Zoning
O - Office
Parking
29 Spaces (2.97 Spaces per 1,000 SF Leased)
Amenities
- Atrium
- Food Service
- Security System
- Signage
- Reception
- Air Conditioning
- Balcony
- Fiber Optic Internet
- Smoke Detector
- Awning
- Locker Room
- Shower Facilities
Major Tenants Click Here to Access
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
-
- Professional, Scientific, and Technical Services
-
99,999 SF
- -
-
Lorem Ipsum
- -
Glenn Burdette began in 1965, when Fred Glenn opened a solo accounting practice in San Luis Obispo. Over time, Stephen Burdette, David Phillips, and David Bryson joined the firm, and the business eventually adopted the Glenn Burdette name. The company now provides attest work through a licensed independent CPA firm, while tax, advisory, and other non-attest services are delivered through GB Advisors and related entities. Glenn Burdette serves clients across California's Central Coast with audit and assurance, tax compliance and planning, client accounting advisory, and broader business consulting services.
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
|
|
Professional, Scientific, and Technical Services | 99,999 SF | - | Lorem Ipsum | - |
Moderately walkable
70/100
Exceptionally drivable
100/100
Some public transit
40/100
Moderately bikeable
70/100
Demographics
Demographics
1 mile
3 mile
5 mile
2020 Population
18,061
55,147
58,446
2025 Population
19,146
60,115
63,450
Population Growth '20-'25
6.0%
9.0%
8.6%
2020 Households
7,142
19,504
20,777
2025 Households
7,636
21,651
22,932
Household Growth '20-'25
6.9%
11.0%
10.4%
Average Age
32
35
35
Median Household Income
$51,277
$68,266
$70,798
Daytime Employees
22,613
48,194
53,993
Total Businesses
2,975
5,609
6,448
College Degree + Higher
46%
46%
47%
Property Taxes
| Parcel Number | 002-325-017 | Improvements Assessment | $1,675,774 |
| Land Assessment | $565,600 | Total Assessment | $2,241,374 |
Property Taxes
Parcel Number
002-325-017
Land Assessment
$565,600
Improvements Assessment
$1,675,774
Total Assessment
$2,241,374
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1150 Palm St