Description
On the market for the first time in over 50 years, 867 Higuera St is perfectly placed in the heart of downtown San Luis Obispo and near Cal Poly, a top-flight public university. The 7,000 square foot retail building is situated on 7,000 square feet of Downtown Commercial (C-D-H) zoned land within the Historic Overlay. The property will be delivered vacant at the close of escrow which, combined with the premier Main & Main location, presents an outstanding opportunity for either an owner-user buyer or an investor/developer looking for significant redevelopment potential. The parcel size and zoning could allow 17 to 23 apartment units. Significant development is underway in the immediate area--including new residential units, high-end commercial and mixed-use projects-- further enhancingthe potential upside of this prime location. The building was previously occupied by Charles Shoes, a successful family-owned shoe store in the area since 1966. The property benefits from 50 feet of frontage along Higuera Street and unique signage for prominent visibility. Traffic counts exceed 10,900 vehicles per day, promoting engagement with the property. The building's glass faade creates a strong and memorable presence while bringing natural light to the interior. The flat roof also offers the potential to add a rooftop deck. 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.
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0BEDS
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0.16ACRES
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0BATHS
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01/2 BATHS
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7,000SQFT
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$600$/SQFT
School Ratings & Info
Description
On the market for the first time in over 50 years, 867 Higuera St is perfectly placed in the heart of downtown San Luis Obispo and near Cal Poly, a top-flight public university. The 7,000 square foot retail building is situated on 7,000 square feet of Downtown Commercial (C-D-H) zoned land within the Historic Overlay. The property will be delivered vacant at the close of escrow which, combined with the premier Main & Main location, presents an outstanding opportunity for either an owner-user buyer or an investor/developer looking for significant redevelopment potential. The parcel size and zoning could allow 17 to 23 apartment units. Significant development is underway in the immediate area--including new residential units, high-end commercial and mixed-use projects-- further enhancingthe potential upside of this prime location. The building was previously occupied by Charles Shoes, a successful family-owned shoe store in the area since 1966. The property benefits from 50 feet of frontage along Higuera Street and unique signage for prominent visibility. Traffic counts exceed 10,900 vehicles per day, promoting engagement with the property. The building's glass faade creates a strong and memorable presence while bringing natural light to the interior. The flat roof also offers the potential to add a rooftop deck. 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.
© 2023 Santa Barbara Multiple Listing Service. All rights reserved. Based on information from the Santa Barbara MLS as of 2023-12-10T07:47:15.213. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Data last updated 2023-12-10T07:47:15.213.