480 Main Street, Morro Bay, CA 93442

$3,200,000
4,988
SqFt
List Price
$3,200,000
Status
ACTIVE
MLS#
PI19239474
Year Built
1977
Living Sq. Ft
4,988
Days on Market
6
Property Type
Commercial
Property Sub Type
Mixed Use

Property Description

Tenant occupied: Mature Adult Day Assistance, Inc dba; Garden House since July of 2000. The 501 (c)(3) nonprofit corporation, fund raises and accepts donations to subsidize the operating budget and pays all taxes, maintenance and insurance. The tenant generates strong revenue and has a high staff to Resident ratio. Garden House is under-market on their monthly resident fees for the area and has a waiting list. 100% occupancy since Sept.2016 due to the high demand for this level of care, this opportunity will remain evergreen and will continue to thrive with the aging population in San Luis Obispo County. This location is occupied by the non profit tenant, however there is opportunity to be on the board and collect an administrative fee bringing the CAP rate from 8% to 10% or higher. Potential to restructure brand new 20 year lease while in escrow. Much opportunity here, Call for details. PLEASE DO NOT DISTURB OCCUPANT/TENANT!! NO LOITERING OR PARKING IN FRONT OR AROUND THE FACILITY!!!!

Additional Information

Roof
Composition, Flat
Water
Public
Total Number of Units
1

Mortgage Calculator

Amount of Loan
Annual Interest Rate
%
Term of Loan
Years

Does not include any taxes or fees.
Please consult a financial professional.
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.