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2380 Main St

6,473 SF 100% Leased Retail Building Cambria, CA 93428 £1,564,118 (£242/SF) 4.89% Net Initial Yield

Investment Highlights

  • Situated in the heart of Cambria!
  • Fully occupied commercial property
  • 1.4 miles from Highway 1!
  • Stable, long-term investment
  • Cap rate of 4.9%!

Executive Summary

Looking to diversify your portfolio with a prime commercial property? Or maybe you’re searching for a stable, long-term investment in one of California’s most charming coastal towns? Situated in the heart of Cambria, California, this fully occupied commercial property offers an exceptional investment opportunity in a high-visibility location. Cambria, renowned for its quaint village atmosphere, artistic community, and stunning natural beauty, draws both locals and tourists year-round. Cambria is located about half way between San Fransisco and LA, only 34 miles north of San Luis Obispo and 9 miles south of the famous Hearts Castle. With a population of around 6,000 residents, Cambria is nestled between scenic pine forests and the Pacific Ocean, offering a peaceful yet vibrant setting. The property is just 2 miles from the beach and only 1.4 miles from Highway 1, making it ideally located for continued success. It spans 6,473 square feet across 7 units, with one tenant currently occupying two units. Zoned commercial retail, it is fully leased to a variety of thriving businesses, including two popular restaurants, JJ's Pizza and Wild Ginger, the well-loved boutique Sea & Green, a salon, barber shop and a high-end smoke shop. Each business enjoys steady foot traffic thanks to the prime location in Cambria's bustling retail district. Family-owned and built in 1978, this property is on the market for very the first time!!! What a unique opportunity to own a piece of Cambria's history. The lot encompasses 32,300 square feet and includes a 22-space parking lot and three storage buildings. 4.95 EDU’s of water are assigned to the lot and 3.95 EDU’s are currently in use. With long-term tenants in place and the potential to further maximize rental income, this commercial property is a rare gem in one of California’s most picturesque coastal towns—all offered at under $2M with a cap rate of approximately 4.9%. Call today to schedule your private tour or take your tour here: https://vid.us/bd5y2k

Property Facts

Sale Type
Investment
Property Type
Retail
Property Subtype
Restaurant
Building Size
6,473 SF
Building Class
C
Year Built
1978
Price
£1,564,118
Price Per SF
£242
Net Initial Yield
4.89%
NOI
£76,517
Percent Leased
100%
Tenancy
Multiple
Number of Floors
1
Building FAR
0.20
Land Acres
0.74 AC
Zoning
CR - Commercial Restaurant
Parking
26 Spaces (4.02 Spaces per 1,000 SF Leased)
Frontage
200 ft on Main St

Amenities

  • Restaurant
  • Storage Space
  • Air Conditioning

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
013-242-001
Land Assessment
£116,958
Improvements Assessment
£283,382
Total Assessment
£400,341
  • Listing ID: 33453338

  • Date on Market: 08/10/2024

  • Last Updated:

  • Address: 2380 Main St, Cambria, CA 93428

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