671 W Tefft Street, Nipomo, CA 93444

$6,500,000
List Price
$6,500,000
Status
ACTIVE
MLS#
PI18090564
Year Built
1995
Days on Market
473
Property Type
Commercial
Property Sub Type
Retail

Property Description

TEFFT CENTER, NIPOMO, CA Multi Tenant Mixed Use Center - Retail | Office | Medical Team Puhek, with RE/MAX Del Oro, is proud to present this opportunity to purchase the commercial center known as Tefft Center. Tefft Center contains retail, office and service spaces and a free standing office building leased by the County of San Luis Obispo. The Tefft Center commercial building is centrally located in Nipomo's trade district with national/international brand retailers including Starbucks, Vons, CVS Pharmacy, Taco Bell, Chevron, McDonald's, and Carl's Jr. Located just off HWY 101 and Tefft St, the center experiences excellent exposure and high traffic counts. The center is 93.9% occupied with many of the tenants having annual increases, renewal options and long term history on site. Pro Forma cap rate is 8% - based on rent as of July 1st and anticipated expenses for 2018. Specifically, the San Luis Obispo County Social Services Office has a very strong operating history at the site having been there for 18 years. Originally they were located in Unit 1 and 2 in the Front building (671 W. Tefft), the Rear Building (681 W. Tefft) was built to accommodate their growing needs. Plumbing has been completely replaced as of 2018. Approx. 180,000 in buildouts were spent by the county on rear building. They recently signed a new 5 year lease with one five (5) year option and annual CPI increases throughout base and option period. Fill out NDA for financial information.

Additional Information

Lot Description
Fire and Smoke Detection System
Heat
Forced Air
Cooling
Yes
Cooling Description
Central
Roof
Composition, Tile
Water
Public

Mortgage Calculator

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Calculator source: Real Geeks

Listing courtesy of Michael Puhek from RE/MAX Del Oro

Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.