2214-2222 Main St
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2214-2222 Main St
5,003 SF 14% Leased Retail Building Cambria, CA 93428 £1,762,425 (£352/SF) 7.50% Net Initial Yield
Investment Highlights
- Air Conditioning
- Prime Location
- Owner/User Opportunity
Executive Summary
Opportunity to acquire this commercial property on main commercial corridor in Cambria. This is a high-traffic corner and receives the highest exposure that any other corner in Cambria. The subject property is located on the corner of Burton Drive and Main Street. Main & Burton are full of character with historic architecture, art galleries, boutique shops, antique shops, gourmet foods and luxurious wines with a variety of tasting rooms.
This location is perfect for an owner/user to have this as great destination shop for anyone looking to expand their retail footprint. The property is located in the CR (Commercial Retail) zone set forth by San Luis Obispo County. The CR zone is intended to provide for services, retail, office, and other business services. Mixed-use commercial/residential uses are allowed.
At present, the tenants include The French Corner Bakery 1,250 SF (current lease expires 03/31/2025) and Cambria Drug and Gift (Business to be sold separately) 3,753 SF for a total 5,003 SF. Cambria Drug and Gift is currently paying $14,864 and A Matter of Taste is currently paying $3,090.
Cambria Drug and Gift is currently listed for sale and to be sold before the sale of the real estate. The 3,753 SF will be immediately available for a new tenant or owner/user opportunity.
SBA Financing available (minimum 10% down payment required for most borrowers)
• Reason for Sale: Owner pursuing other interests.
This location is perfect for an owner/user to have this as great destination shop for anyone looking to expand their retail footprint. The property is located in the CR (Commercial Retail) zone set forth by San Luis Obispo County. The CR zone is intended to provide for services, retail, office, and other business services. Mixed-use commercial/residential uses are allowed.
At present, the tenants include The French Corner Bakery 1,250 SF (current lease expires 03/31/2025) and Cambria Drug and Gift (Business to be sold separately) 3,753 SF for a total 5,003 SF. Cambria Drug and Gift is currently paying $14,864 and A Matter of Taste is currently paying $3,090.
Cambria Drug and Gift is currently listed for sale and to be sold before the sale of the real estate. The 3,753 SF will be immediately available for a new tenant or owner/user opportunity.
SBA Financing available (minimum 10% down payment required for most borrowers)
• Reason for Sale: Owner pursuing other interests.
Data Room Click Here to Access
- Offering Memorandum
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
£168,854
|
£28.90
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
£168,854
|
£28.90
|
| Taxes |
£15,666
|
£2.68
|
| Operating Expenses |
£19,582
|
£3.35
|
| Total Expenses |
£35,248
|
£6.03
|
| Net Operating Income |
£133,606
|
£22.87
|
Financial Summary (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | £168,854 |
| Annual Per SF | £28.90 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | £168,854 |
| Annual Per SF | £28.90 |
| Taxes | |
|---|---|
| Annual | £15,666 |
| Annual Per SF | £2.68 |
| Operating Expenses | |
|---|---|
| Annual | £19,582 |
| Annual Per SF | £3.35 |
| Total Expenses | |
|---|---|
| Annual | £35,248 |
| Annual Per SF | £6.03 |
| Net Operating Income | |
|---|---|
| Annual | £133,606 |
| Annual Per SF | £22.87 |
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Building Size
5,003 SF
Building Class
C
Year Built
1961
Price
£1,762,425
Price Per SF
£352
Net Initial Yield
7.50%
NOI
£132,182
Percent Leased
14%
Tenancy
Multiple
Number of Floors
1
Building FAR
0.34
Lot Size
0.33 AC
Zoning
Commercial Retail - (Commercial Retail). CR zone is for services, retail, office, and other business services. Mixed-use commercial/residential are allowed.
Parking
19 Spaces (3.8 Spaces per 1,000 SF Leased)
Amenities
- Corner Lot
PROPERTY TAXES
| Parcel Number | 013-263-001 | Total Assessment | £1,564,639 (2024) |
| Land Assessment | £1,107,538 (2024) | Annual Taxes | £15,666 (£3.13/sf) |
| Improvements Assessment | £457,100 (2024) | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
013-263-001
Land Assessment
£1,107,538 (2024)
Improvements Assessment
£457,100 (2024)
Total Assessment
£1,564,639 (2024)
Annual Taxes
£15,666 (£3.13/sf)
Tax Year
2023
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Presented by
The Associates Commercial Real Estate Inc.
2214-2222 Main St
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