867 Higuera Street

Marcus & Millichap as exclusive advisor, is pleased to present a premier opportunity to acquire 867 Higuera Street, a rare trophy asset in Downtown San Luis Obispo. The property consists of a 7,000 SF retail building situated on 7,000 SF of Downtown Commercial zoned land within the Historic Overlay. 867 Higuera Street is perfectly placed in the beating heart of downtown San Luis Obispo, adjacent to Cal Poly, a top 10 public university in the nation. Higuera was previously occupied by Charles Shoes, who successfully operated a family-owned shoe store in the area since 1966. The subject property benefits from excellent frontage with 50 linear feet along Higuera Street and unique signage which created ideal visibility. Daily traffic counts exceed 10,924 vehicles per day, further adding to the uniqueness fo the subject property. The building's glass facade lining Higuera creates a strong and memorable impression and exposes the interior of the building to the outside natural light. The flat roof also gives the next owner flexibility by being able to add a roof top deck.

The subject property will be delivered vacant at the close of escrow, making this an ideal opportunity for an Owner-User buyer looking for a rare trophy asset location, an investor or developer looking to acquire a main & main location with significant re-development potential. 867 Higuera Street is situated on 7,000 SF of land zoned C-D-H, with the ability to build between 17-23 apartment units on this parcel. There is significant development in the immediate area, with thousands of new residential units coming online as well as high end commercial and mixed-use space. The growth in the immediate area creates significant upside for this prime location. Located just minutes from Cal Poly's campus in the heart of Downtown SLO. This opportunity will be free and clear of existing debt and is being offered on a best offer basis for fee simple interest in the building and land thereunder.