974 Griffin Street, Grover Beach, CA 93433
Excellent Investment Opportunity!
Four industrial buildings totaling over 14,000 sqft located on a drive-thru lot with double frontage in an active industrial business area. Two smaller buildings are owner-occupied and will lease back. A third building is partially occupied on a month-to-month basis at $3,375 per month. The fourth building is approximately 4,992 sqft and fully leased on a three-year term at $6,050 per month. Seller wishes to lease the space they currently occupy for 1 year. Features include 3-phase power and a flexible layout. Estimated CAP Rate is 5.5% with the potential for up to 7.6%. Excellent opportunity for investors or owner-users seeking both income and functionality in an established commercial corridor.
Breakdown of current occupancy:
- Unit C is (4,992 sqft) - TENANT & OWNER AGREED TO TERMINATE CURRENT LEASE OCT 2025: 3 year lease with two 3-year options to renew
- Lease was for for $6,050 per month - Gross
- Scheduled increase to $6,171 on 10/01/26
- Scheduled to increase to $6,295 on 10/01/27
- Unit A, Unit D, and a small portion of Unit B are owner occupied and they would like to lease back for 1-2 years at $1 per sqft per month gross
- Desired lease = $6,118 per month - Gross
- The majority of Unit B is leased on a month-to-month basis at $3,375 per month gross and is subject to rent increase
Building Area per Architect:
- Area A = 3,245 sq. ft.
- Area D = 1,625 sq. ft.
- Area B = 4,992 sq. ft.
- Area C = 4,992 sq. ft.
- Total = 14,229 sq. ft.
* Neighboring parcel at 978 Griffin is also available and offered at $500,000 with the concurrent sale of this property.
* Link to the City of Grover Beach Zoning map can be found here.
* Blue print pages available for downloading below.
Parcel #: 060544009
Listing ID: SC24254186
List Price: $2,200,000