Shell Gas & Food Mart

Pismo Beach, CA 93449200 Five Cities Dr.

Property Type: Retail
For Sale

Details

  • Price: 1,390,000
  • Cap Rate: 5.18% Cap
  • GRM: N/A
  • Cost per SF: $516
  • Cost per unit: N/A
  • Year Built: 1997
  • Square Footage: 2,696 SF
  • Lot Size: 12,555 SF
  • Units: N/A
  • No. Stories: 2
  • Parking: 6 Spaces (2.23 Spaces per 1,000 SF Leased)
  • Transaction Type: For Sale
  • Property Type: Retail
  • Zoning: C1
  • Building Class: C
  • APN/Parcel ID: 005-242-002

Property Description

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.

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 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 lease expires in 2037 with no scheduled increases.

Property Highlights

  • Absolute NNN Lease
  • Shell Branded Gas Station and Convenience Store
  • Near Freeway and Shops
  • Zero Landlord Responsibilities
  • Long Term Stable Cash Flow

 

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23975 Park Sorrento Suite 110
Calabasas, CA 91302