Listed by Tartaglia Realty
$4,400,000
1150 Palm Street
Details
APN 002-325-017
Property Type Office
Sub Type Traditional Office, Executive Office
Square Footage 9,767
Units 1
Cap Rate 6.00%
Occupancy 100%
Tenancy Single
Brand/Tenant Glenn Burdette, CPA
Lease Type NNN
Lease Expiration 12/31/2028
Rent Bumps Yes
Price per SqFt $451
Class B
Year Built 1986
Year Renovated 2012
Buildings 1
Acreage 0.480
Zoning O-Office
Parking Spaces 29 spaces
Parking per 1,000 SqFt 2.97
Investment Type Net Lease
Lease Commencement 06/01/2012
Sale Condition N/A
Office | 6.00% CAP | 9,767 SqFt
Marketing description
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.
Investment highlights
- Fully leased to long term tenant
- Secure triple net (NNN) lease for stable income
- High visibility in desireable downtown San Luis Obispo
- Ample parking for staff and visitors
- Beautifully renovated office building
- Excellent accessibility with dual street access
Listing Contacts
Listed by Tartaglia Realty
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