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664 Marsh St 1,800 SF Specialty Building Offered at $2,000,000 at a 5.35% Cap Rate in San Luis Obispo, CA 93401
Executive Summary
Distinctive tenant-occupied commercial investment opportunity in the heart of Downtown San Luis Obispo. Currently home to The Penny, 664 Marsh Street is a historic 1937 former blacksmith and metal-fabrication building that has been transformed into a highly recognizable wedding and special-event venue. The property features industrial character, exposed brick, an open-plan indoor venue, a private outdoor courtyard, and a current configuration designed to accommodate approximately 125 seated or 300 standing guests. Prime walkable downtown location, with established event use, historic architecture, and flexible indoor-outdoor environment make this a rare opportunity to acquire a truly unique San Luis Obispo commercial asset. 4 adjacent properties are available for sale, combining them all would provide genuine development potential.
Property Facts
| Price | $2,000,000 | Building Class | B |
| Price Per SF | $1,111.11 | Lot Size | 0.16 AC |
| Sale Type | Investment | Building Size | 1,800 SF |
| Cap Rate | 5.35% | No. Stories | 1 |
| Property Type | Specialty | Year Built | 1937 |
| Property Subtype | Lodge/Meeting Hall | ||
| Zoning | CD - Commercial Downtown | ||
| Price | $2,000,000 |
| Price Per SF | $1,111.11 |
| Sale Type | Investment |
| Cap Rate | 5.35% |
| Property Type | Specialty |
| Property Subtype | Lodge/Meeting Hall |
| Building Class | B |
| Lot Size | 0.16 AC |
| Building Size | 1,800 SF |
| No. Stories | 1 |
| Year Built | 1937 |
| Zoning | CD - Commercial Downtown |
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Very walkable
80/100
Exceptionally drivable
100/100
Limited public transit
30/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 002-422-021 | Improvements Assessment | $22,316 |
| Land Assessment | $383,880 | Total Assessment | $406,196 |
Property Taxes
Parcel Number
002-422-021
Land Assessment
$383,880
Improvements Assessment
$22,316
Total Assessment
$406,196
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664 Marsh St