1304 Ella #CD new Save Request In-Person Tour Request Virtual Tour
San Luis Obispo,CA 93401
Key Details
Property Type Commercial
Sub Type Office
Listing Status Active
Purchase Type For Sale
MLS Listing ID SC25263904
Year Built 1986
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
Area Slo - San Luis Obispo
Interior
Laundry None
Exterior
Utilities Available Water Not Available
Building
Lot Description 2-5 Units/Acre
Story 2
Water None
Others
Special Listing Condition Standard