The Redwood Center, located in the heart of the East Village, allows the investor multiple opportunities. At its current 100% occupied status, the Cap Rate is 4.3%. And with its 28 EDUs, there is inherent potential for future development. Two long-term restaurants anchor the property. Eight other tenants occupy the rest of the retail spaces. There are five storage facilities as well. Two units front Main St, while the rest are adjacent to the 43 space parking lot. Please feel free to peruse the stores, but please do not converse with the restaurant/shop owners, employees or patrons. Average rent/square foot for restaurant/shop spaces is $1.44.
|Last Updated||9/30/2016||Community||Cambria/San Simeon|
|County||San Luis Obispo||Walk Score ®||54|
|Prior to Aug 1, '15||$2,890,000|
|Aug 1, '15 - Today||$2,750,000|
|ASSOCIATION||Scenic Coast Association of Realtors|
|HEATING||Electric, Wall Furnace|
|LOT CHARACTERISTICS||Downslope, Level|
|PROPERTY SUBTYPE 1||Retail-Commercial|
|SITE IMPROVEMENTS||Cable Available, Curbs/Gutter, Paved Streets, Sidewalks, Street Lights, Telephone|
|ZONE DESCRIPTION||Comm Retail|
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Date last updated: 3/27/17 1:35 AM PDT
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