6435 Morro RdAtascadero, CA 93422

  • Retail properties
  • 0.24 AC
For Sale
$3,928,000 View listing

Property Details for 6435 Morro Rd

Lot size
0.24 AC
Property type
Retail properties
Property subtype
Parking lots & garages
APN
030-212-029
APU
30212029

Description

This exceptional investment opportunity presents a 1,940 square foot Chipotle restaurant located at 6435 Morro Rd, Atascadero, CA 93422. The property sits on a 0.55-acre lot and boasts a new 15-year net lease (NN+) with a corporate guarantee, commencing December 28, 2023, and expiring December 31, 2038. The lease includes 10% rent bumps every five years, ensuring a passive income stream for the long term. The property's strong financial performance is reflected in its $3,928,000 asking price and a 4.15% cap rate, generating a current NOI of $163,000. Built in 2023, this location benefits from high visibility and accessibility along E.G. Lewis Highway (59,000 AADT) and U.S. Highway 101 (66,700 AADT), capturing significant commuter traffic. The surrounding area features a robust retail corridor with major national tenants including Vons, McDonald's, In-N-Out Burger, and more, creating significant crossover shopping opportunities. The property's proximity to Atascadero High School, Atascadero Middle School, and Santa Rosa Academic Academy (a combined 2,740 students) provides a large and reliable customer base. The 34,193 residents within a five-mile radius boast an excellent average annual household income of $135,841. Limited drive-thrus in Atascadero further enhance the property's value. This is a rare opportunity to acquire a high-performing, strategically located Chipotle in a thriving coastal California market. The sale is structured for a 1031 exchange.

6435 Morro Rd, Atascadero, California

Location Insight

City
Atascadero
County
San Luis Obispo
State
California
Latitude
35.4838
Longitude
-120.665
CBSA code
42020
CBSA name
SAN LUIS OBISPO-PASO ROBLES, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2024
$2,267
$204,000
-
$204,000
-
-
-
-

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