Monthly Archives:: November 2023

Mixed use leased investment for sale in San Luis Obispo. Comprising two buildings on one parcel, 3590 – 3592 Sacramento, is a mixed-use project consisting of 14 apartments and 7 commercial units on a 63,162 sq. ft. parcel. The 14 apartments are all located in the rear, three story building at 3590 Sacramento Drive. The 7 commercial units are located on the first floor of 3590 Sacramento and in the front building at 3592 Sacramento. 60 reciprocal parking spaces.  Due Diligence material available upon request and qualification. Sale Price: $9,995,000.

In general, market sectors are seeing slight increases in vacancy.  In all market segments, there is absorption of smaller spaces, but larger spaces generally continue to languish on the market.  The office market is the most significant segment impacted by COVID and the shift of employees’ desire to work from home. Companies are struggling in this post-pandemic period to determine their office needs.  The Industrial sector in the North County has added a few buildings. Larger industrial spaces remain unabsorbed.  Retail has shown slight improvement overall in San Luis Obispo, with regional/national retailers back-filling space.  Housing sales have cooled but remain high-valued with little standing inventory.