148 Ocean AveCayucos, CA 93430

Property Details for 148 Ocean Ave

Year built

1960

Construction

TILT-UP CONCRETE

Lot size

0.09 AC

Property size (Sq ft)

1,924 SF

Zone code

60

Property type

Retail properties

Property subtype

Retail space

APN

064-113-028

APU

64113028

Description

This exceptional investment opportunity presents a 3,000 square foot storefront located at 148 N Ocean Ave, Cayucos, CA 93430. The property is situated on a 0.09-acre lot and boasts a 99.1-year triple net (NNN) lease with 77.2 years remaining, commencing January 15, 2003, and expiring January 14, 2102. The current tenant maintains 100% occupancy, generating a Net Operating Income (NOI) of $21,222 annually. The asking price is $600,000, translating to $200 per square foot. This single-tenant retail space benefits from annual CPI rent increases, offering a stable and predictable cash flow stream. Its prime location along Ocean Avenue, just a block from Cayucos Beach and Pier, within the thriving San Luis Obispo County tourist area (7 million annual visitors), ensures high visibility and foot traffic. The property's proximity to Morro Bay and San Luis Obispo, along with its adjacency to the iconic Highway 1, further enhances its appeal. This presents a rare opportunity to acquire a long-term, low-risk, high-return investment in a desirable coastal California location. The property's strong operating history (22+ years) and below-market rent provide significant upside potential. The absolute NNN lease structure eliminates landlord responsibilities, making this an ideal passive income investment.

• CAP approach

  CAP return

  Valuation

  6%

  $400,955

  6.5%

  $370,112

  7%

  $343,676

• Comparable approach

  Method

  Valuation

  Relative Method

  $643,831

  Geo Method

  $1,352,290

• Alternative Use

  Use

  Valuation

  Residential

  $312,203

  Hospitality

  $285,977

  Educational

  $237,929

  Medical

  $246,112

  Retail

  $370,112

Location Insight

City

Cayucos

County

San Luis Obispo

State

California

Latitude

35.4494

Longitude

-120.905

CBSA code

42020

CBSA name

SAN LUIS OBISPO-PASO ROBLES, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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