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This 9,979 SF retail property is located on a ground lease that expires May 14, 2051, with no options to extend the lease or purchase the ground. An investor evaluating this asset must understand that the leased-fee position, not fee-simple ownership, is what is being acquired. There are currently 6 tenants and 1 vacant space of 2000 sq. feet. 7-11, Subway Sandwiches and DK Donuts have occupied the property since the late 1980s. A complete rent roll and 10-year financial analysis is available upon request. The Buyer must co-operate with a 1031 Exchange. The vacancy happened about 1 month ago but once leased at a market rent will push the Cap Rate and the Cash on Cash over 9%. The building was constructed in 1985 on a concrete slab. The flat roof was redone about 8 years ago. There is 1 bathroom in each unit and each unit is individually metered. Utilities are serviced by PG&E. Each unit has its own HVAC unit located on the roof. The building is not sprinkler-ed and each tenant is responsible for its own security. None of the approximately 48 on-site parking spaces are assigned, and the property is on public water and sewer. Do not contact or disturb any tenants. All income and expenses remain to be confirmed by the Buyer. Owner provided financials are available.
Property Type(s):
Commercial
| Last Updated | 9/25/2026 | Year Built | 1986 |
|---|---|---|---|
| County | San Luis Obispo |
Additional Details
| AIR CONDITIONING | Yes |
|---|---|
| LOT | 0.74 acre(s) |
| LOT DIMENSIONS | 32234 |
| STORIES | 1 |
| TAXES | 18750 |
| WATER | Public |
Location
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Listed with eXp Realty of California Inc
The information being provided by Conejo Simi Moorpark Association of REALTORS® (“CSMAR”) is for the visitor's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. Any information relating to a property referenced on this web site comes from the Internet Data Exchange (“IDX”) program of CSMAR. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. Any information relating to a property, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by CSMAR and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
This IDX solution is (c) Diverse Solutions 2026.
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