For Sale
$2,350,000

502 Tefft StNipomo, CA 93444

Prime CA Restaurant Investment. Strong ROI.

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional investment opportunity presents a 2,127 square foot Hardee's/Carl's Jr. restaurant located at 502 W Tefft St, Nipomo, CA 93444. The property sits on a 0.74-acre lot and boasts a strong location within a grocery-anchored shopping center (Vons), adjacent to Highway 101 (60,000 cars daily) and on heavily trafficked West Tefft Street (21,500 cars daily). Built in 2003, this single-story building is under an absolute triple-net (NNN) lease with a corporate guarantee, minimizing landlord responsibilities. The current lease, initiated November 1, 2003, has a remaining term of approximately four years, extending to October 31, 2028. The lease includes two five-year renewal options, with the tenant already exercising one, demonstrating long-term commitment. Rent increases by 10% every five years. The asking price is $2,350,000, representing a price per square foot of $1,105 and a 5.00% cap rate, with a current NOI of $117,132. The land value alone is $72.90 per square foot. This is a rare opportunity to acquire a stable, high-performing restaurant investment with significant upside potential. The property's strategic location and strong tenant history make it an attractive addition to any portfolio.

Highlights

  • $2,350,000 asking price for a Hardee's/Carl's Jr. restaurant.
  • Absolute NNN net lease with a 20-year term, expiring 10/31/2028, with 4 years remaining.
  • 5.00% cap rate, generating $117,132 in NOI.
  • 2,127 square feet on a 0.74-acre lot in Nipomo, CA.
  • Located on a pad site adjacent to Highway 101 and a Vons grocery store, in a high-traffic area.

Property Details for 502 Tefft St

Property type
Retail properties, Restaurants
Square Feet
2,127 SF
Year Built
2003
Buildings
1
Stories
1
Lot Size (sq. ft)
32,234 SF

Location Insight

City
Nipomo
County
San Luis Obispo
State
California
Latitude
35.036612
Longitude
-120.48583
502 Tefft St, Nipomo, California

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502 Tefft St
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