Description

We are offering 148 N Ocean Ave in Cayucos, California, for sale at $454,500, or about $236.23 per square foot. The property is a 1,924-square-foot fully leased single-tenant retail building built in 1960 on approximately 0.09 acres. The site is zoned CR and carries Assessor's Parcel Number 064-113-028.

The property is secured by a rare 100-year ground lease that runs through January 14, 2102, with more than 77 years remaining and zero landlord responsibility. Rent is $1,908.88 a month, or $22,906.56 a year, with CPI-based increases each January that have historically averaged 3% to 4%. The tenant has operated here for more than 22 years, and the site offers a future redevelopment opportunity.

The building is on Ocean Avenue at D Street in downtown Cayucos, one block from the Cayucos Pier and beach, on the main commercial corridor with cafes and shops. It has direct access to Highway 1 and is about 7 miles north of Morro Bay and 20 miles northwest of downtown San Luis Obispo. Cayucos is in San Luis Obispo County, part of the San Luis Obispo-Paso Robles metropolitan area.

Jared Ennis and Kevin Land of Central CA Commercial represent this offering on behalf of ownership. We are glad to share the full offering memorandum, along with additional photos and property details, and to answer questions about the property and the surrounding area. Contact us to discuss the opportunity or to schedule a tour.