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EXCLUSIVE LISTING | Commercial Retail | Pismo Beach | Fee-Simple Shell Gas Station features a convenience store

Purchase Price: $1,700,000
Property Address: 200 Five Cities Dr. Pismo Beach, CA 93449

  • CAP Rate:
  • Zoning Type:
  • Lot Size (Sqft):

4.24%

C1

12555

  • Year Built:
  • Price Per Sqft:

1997

$630.56


Investment Highlights


  • Absolute NNN Lease
  • Zero Landlord Responsibilites
  • Shell Branded Gas Station & Convenience Store

  • Long Term Stable Cash Flow
  • 6 Onsite Parking Spots
  • Excellent Location Near Freeway and Shops

Attachments

Download Marketing Package (PDF):

Building Description

Property: 200 Five Cities Drive., operating as Pismo Beach Shell Gas & Sams Food Market is a two-story, single tenant fuel station and convenience store located in the City of Pismo Beach, California. The building construction is of unknown framing with a pitched metal Loc-Panel roof and painted stucco exterior. Development was completed in 1997 and per city building permits, the structure consists 2,696+/- square feet of improvements, situated on a 12,555+/- square foot lot, currently zoned C1 with a use code of retail gasoline station and convenience store.

 

The Fee-Simple Shell Gas Station features a convenience store, water & air station, 6 on-site parking spaces, picnic area and four dual-sided fuel dispensers providing a total of 8 gas pumps.

 

The current tenant, Valley Convenience Stores, Inc. is operating on the second option of an absolute NNN lease. The tenant is paying fixed annual rental rate of $26.71, which calls for 0 increases through both the current option expiring in 2027 and subsequent following option expiring in 2037.

 

Location: The subject property is situated off of Five Cities Dr. on the South 101 Corridor. The property is centrally located on a highly trafficked street averaging a traffic count of 15,700 cars in 2017 and surrounded by both major retailers as well as large planned communities.

 

The immediate vicinity, which includes Pismo Coast Premium Outlet, a major retail draw for the area and includes well-known retailers such as Nike, Ralph Lauren Calvin Klein. In addition, the subject property is minutes from North Beach Campground and Pismo Beach Mobile Home Park, a 29 acre gated senior community with 233 home sites located on the Pacific Coast Highway.

 

Pismo Beach is a city in San Luis Obispo County, in the Central Coast area of California and is within close proximity to both Morrow Bay and Paso Robles. The estimated population was 8,327 in the 2017 census, up from 8,185 in the 2016 Pismo Beach is part of the Five Cities Area, a cluster of cities in that area of San Luis Obispo County. The median household income in a 1 mile radius is $71,046.