Listed by Essential Capital Advisors
$8,300,000
Adobe Plaza
Details
APN 030-121-043, 030-121-044, 030-121-045, 030-121-046
Property Type Retail
Sub Type QSR/Fast Food, Shopping Center
Square Footage 38,599
Net Rentable (SqFt) 38,599
Units 21
Cap Rate 6.07%
NOI $503,890
Occupancy 94%
Tenancy Multi
Brand/Tenant Taco Bell
Lease Type NNN
Pro-Forma Cap Rate 8.95%
Pro-Forma NOI $742,706
Price per SqFt $215
Year Built 1982
Buildings 3
Stories 1
Acreage 3.650
Zoning CR - Commercial Retail
Parking Spaces 5.21 per 1,000 sq ft
Investment Type Value Add
Ground Lease No
Ownership Fee Simple
Taco Bell Anchored Strip Center | Value-Add Opportunity | Prime California Coastal Location
Investment highlights
- Taco Bell and A-Town Diner anchored strip center with diverse mix of national and local tenants located on prime retail corridor
- 33,564 square foot multi-tenant building with two single tenant pads – 2,791 (A-Town Diner) and 2,244 (Taco Bell) square feet located on 3.65 acres of land
- Low in-place rents with considerable upside in converting tenants (70%) on gross leases to NNN as well as leasing two vacant spaces – 2,244 and 1,200 square feet
- Wide array of daily needs tenants attracting both local population as well as year-round tourists
- Ample parking – 220 spaces and excellent visibility with 900 feet of street frontage, pylon sign and dedicated turn lane
- Atascadero is located in San Luis Obispo County, midway between Los Angeles and San Francisco in the heart of California’s central coast
- Direct access to Highway 101 and within immediate proximity to Highways 41 and 46; 52,326 vehicles per day on heavily trafficked arterial
- Adjacent to Von’s anchored shopping center with Starbucks and across the street from Habit Burger & Grill
- Surrounded by world class coastal destinations – Pismo Beach and Morro Bay as well as Paso Robles Wine Country
- Strong demographics in immediate trade area; 25,469 population in 3-mile radius and $91,764 median household income in 3-mile radius
Listing Contacts
Listed by Essential Capital Advisors
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Loan Amount
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Annual Debt Service
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Annual Cash Flow
$503,890.00
$41,990.83/mo
Valuation Metrics
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DSCR
6.07%
Cap Rate
6.07%
ROI
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