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$5,495,000
Est. payment /mo
2.52 Acres Lot
UPDATED:
12/13/2024 07:18 PM
Key Details
Property Type Commercial
Sub Type Retail
Listing Status Active
Purchase Type For Sale
MLS Listing ID PI24073658
HOA Y/N No
Year Built 1982
Tax Year 2023
Lot Size 2.520 Acres
Property Description
High profile fully leased NNN investment. Arroyo Town and Country Shopping Center is located near the signalized corner of East Grand Avenue and Courtland Street. The offering consists of 14 suites totaling 26,750 leasable square feet located on both sides of the Smart & Final market. The shopping center is co-anchored by Dollar Tree and Smart & Final which are not included in this offering. The shopping center has abundant parking and is a host to a weekly farmers market. The diversified tenant mix attracts a strong traffic flow to this friendly neighborhood shopping center. This investment provides a mix of internet resistant businesses and includes many long term tenants. Exterior tenant signage, ceiling lights and exterior lighting have been upgraded to LED. Other improvements include the replacement of 21 HVAC units in 2014/2015. A new roof and roof hatch were installed on the western parcel in October of 2023. The parking lot was upgraded in September, 2024. There is potential for further development of a mixed use project on a portion of the parking area.
Location
State CA
County San Luis Obispo
Area Arrg - Arroyo Grande
Interior
Fireplace No
Laundry None
Exterior
Fence Block, Chain Link
Utilities Available Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
Roof Type Flat
Present Use Commercial
Building
Lot Description Street Level
Story 1
Water Public
Others
Tax ID 077341073
Acceptable Financing Cash, Cash to New Loan, 1031 Exchange
Listing Terms Cash, Cash to New Loan, 1031 Exchange
Special Listing Condition Standard
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Listed by Dennis Allan • Allan Real Estate Investments • dennis@allanrealestate.com