974 Griffin St
Grover Beach

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

• Leased 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.

 

Year Built: 1995

Parcel #: 060544009

Listing ID: SC24254186

 

List Price: $2,200,000