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$ 3,515,000
Est. payment /mo
Active
1304 Ella San Luis Obispo, CA 93401
6,477 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Office
Listing Status Active
Purchase Type For Sale
Square Footage 6,477 sqft
Price per Sqft $542
MLS Listing ID CRSC25263904
HOA Y/N No
Year Built 1986
Lot Size 0.423 Acres
Acres 0.42
Property Sub-Type Office
Property Description
1304 Ella Street Units C and D are comprised of a fully leased and improved surgery center of 6,144 SF (Unit C) as well as a 1/3 LLC interest in a 1,000 SF administrative office (Unit D). Both suites are leased to the San Luis Obispo Surgery Center, a subsidiary of Sutter Heath. Both leases expire on August 31, 2030. The Surgery Center has been a long-term stable tenant, as both leases commenced on September 1, 2015. The Suite C lease expires on August 31, 2030 and the current net income for the 6,144 SF suite is $18,619.66 per month NNN. There are 2% annual increases on September 1st of each year. The Suite D lease expires on August 31, 2030 and the current net income for Suite C's ownership interest is $792.98 NNN. There are 2.5% annual increases on September 1st of each year. Based upon the current annual net income of $232,952 the cap rate at the asking price of $3,515,000 is 6.6%. 1304 Ella Street is located directly adjacent to the French Hospital Medical Center, San Luis Obispo County's preeminent hospital.
Location
State CA
County San Luis Obispo
Interior
Fireplace No
Building
New Construction No
Others
Tax ID 003578050
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Listed by Derek Senn • Anderson & Senn Commercial Real Estate