san luis obispo, california - loopnet...additionally, san luis obispo is a strong driver in higher...
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For SaleHigh Exposure CR Zoned Parcel
9,100 +/- SF Parcel
San Luis Obispo, California
Preston Thomas, SIOR805.544.3900 office
[email protected] Lic. #01378821
SITE9,100 +/- SF
High Exposure Vacant Parcel
This long sought-after vacant parcel is now available for sale! Located on the hard corner of Monterey Street and California Boulevard, amongst restaurants, offices and retail storefronts and the Downtown end of the Motel District. Close to Cal Poly and the residential areas of Johnson Avenue and Downtown. Excellent Freeway access.
This parcel is zoned CR, unarguably the best zoning with the widest list of commercial uses available including office, retail, hotel, mixed use and residential. Former approvals for multi-story office building. Truly a unique location.
Information contained herein has been obtained from the owner of the property or from other sources deemed reliable.We have no reason to doubt its accuracy, but we do not guarantee it. Buyer to confirm any and all data.
1480 Monterey StreetSan Luis Obispo, CA
Price: $975,000
Northwest Corner of Monterey Street and California Boulevard
Parcel size 9,100 +/- s.f.(Buyer to verify)
APN 001-137-013
ZoningC-R (Commercial - Retail)
Approved in 2003 for a three story, 4,497 SF office building with parking.
Plans have expired.
100 +/- feet frontage on Monterey St.
76 +/- feet frontage on California Blvd.
Information contained herein has been obtained from the owner of the property or from other sources deemed reliable.We have no reason to doubt its accuracy, but we do not guarantee it. Buyer to confirm any and all data.
S u r v e y
Information contained herein has been obtained from the owner of the property or from other sources deemed reliable.We have no reason to doubt its accuracy, but we do not guarantee it. Buyer to confirm any and all data.
P l a n s
Information contained herein has been obtained from the owner of the property or from other sources deemed reliable.We have no reason to doubt its accuracy, but we do not guarantee it. Buyer to confirm any and all data.
* F o r m e r P l a n ( e x p i r e d a p p r o v a l s i n 2 0 0 3 )
L o c a t i o n
S U B J E C T
Information contained herein has been obtained from the owner of the property or from other sources deemed reliable.We have no reason to doubt its accuracy, but we do not guarantee it. Buyer to confirm any and all data.
L o c a t i o n
* B o u n d a r y l i n e s a r e a p p r o x i m a t e .
Information contained herein has been obtained from the owner of the property or from other sources deemed reliable.We have no reason to doubt its accuracy, but we do not guarantee it. Buyer to confirm any and all data.
Information contained herein has been obtained from the owner of the property or from other sources deemed reliable.We have no reason to doubt its accuracy, but we do not guarantee it. Buyer to confirm any and all data.
San Luis Obispo Market Overview
Job growth in San Luis Obispo has traditionally outpaced that of the nation, as tourism and higher education provide the San Luis Obispo metro areawith an economic safety net. Over the past four years, the metro job count has improved by 11.4% versus 6.8 % nationally. San Luis Obispo’sconcentrated leisure and hospitality industry, a segment that tends to outperform the overall economy during periods of expansion, is the primary driverof this job growth. Additionally, San Luis Obispo is a strong driver in higher education with Cal Poly San Luis Obispo. The university and its 20,000students represent a steady source of growth, as well as a stabilizer during economic downturns. These twin pillars should keep San Luis Obispo on anupward trajectory over the forecast.
The data indicates that vacancy is low in the San Luis Obispo office market, (5.3% office vacancyⁱ) as compared to other office markets across the U.S.(11.3%) and select markets in California, including San Francisco (6.8%) and Los Angeles (11.6%). Office vacancy in San Luis Obispo has trendeddownward since 2010, coinciding with the economic recovery. This is expected to continue into the foreseeable future as there is a shortage ofcommercial land and high construction costs for new office product as well as a surging demand for tech oriented businesses who want to locate orexpand in the City/County due to it pleasant quality of life and cheaper cost of living versus other coastal California areas.
ⁱ From San Luis Obispo County 2016 Economic Forecast
Demographics 1-Mile 5-Mile 7-Mile
2010 Census Households 1,416 20,885 23,724
2015 Est. Households 1,472 21,583 24,450
2020 Proj. Households 1,535 22,471 25,399
2015 Est. Avg. HH Income $71,261 $76,283 $77,711
D o w n t o w n
SUBJECT
San Francisco
Los Angeles
San Luis Obispo
SUBJECT