480 Main Street, Morro Bay, CA 93442

List Price
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Property Type
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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

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Calculator source: Real Geeks

Listing courtesy of Michael Puhek from RE/MAX Del Oro

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