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Listed by Derek Senn • Anderson & Senn Commercial Real Estate
$ 3,515,000
Est. payment | /mo
6,477 SqFt
$ 3,515,000
Est. payment | /mo
6,477 SqFt
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
Property Sub-Type Office
Source Datashare California Regional
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
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