San Luis Obispo Commercial Real Estate

Main & Main Mixed-Use investment opportunity at the heart of downtown San Luis Obispo.

Located at Higuera and Chorro Streets—the true epicenter of Downtown San Luis Obispo’s primary commercial corridor—this approx. 7,492 SF two-story mixed-use asset blends office and retail uses to create strong in-place income and tenant synergy. Surrounded by premier shopping, dining, and the Thursday night Farmers’ Market, and just steps from Mission San Luis Obispo and Cal Poly’s HotHouse innovation hub, the property benefits from consistent tourism, student activity, and daily foot traffic.

Offered at $3,465,000 (4.88% cap rate), the asset provides stable cash flow with long-term upside in a tightly held market with limited inventory—an exceptional opportunity to secure a high-profile downtown SLO investment.

Set amid lush landscaping in a serene, park-like setting, 505 Brizzolara Street is a 12-unit multifamily property* in the heart of San Luis Obispo. The asset consists of ten (10) two-bedroom/one-bathroom apartments and two studios, all well maintained and featuring gracious floor plans filled with natural light and charm. Select upstairs units showcase exposed wood-beamed ceilings, adding warmth and character.

Residents benefit from a private parking lot, on-site laundry, and a communal patio area. The centrally located property is moments from all that San Luis Obispo has to offer, with downtown shopping, dining, and entertainment within walking distance and Cal Poly just two miles away. This is a rare opportunity to acquire a quality investment asset in a premier San Luis Obispo neighborhood.

*Unit 12 was converted from an office to a studio in 2024. The work was not permitted.

Recent capital expenditures: Zinsco electrical replacement, brand new main panel (2020), exterior fully repainted (2023), new roof & gutters installed (2020), and back fence along creek replaced (2024).