502 Tefft StNipomo, CA 93444

Property Details for 502 Tefft St

Year built

2004

Construction

WOOD

Lot size

0.74 AC

Property size (Sq ft)

2,127 SF

Zone code

CR

Property type

Retail properties

Property subtype

Drive through restaurants

APN

092-572-022

APU

92572022

Description

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.

• CAP approach

  CAP return

  Valuation

  6%

  $443,259

  6.5%

  $409,162

  7%

  $379,937

• Comparable approach

  Method

  Valuation

  Relative Method

  $711,761

  Geo Method

  $1,019,265

• Alternative Use

  Use

  Valuation

  Residential

  $345,144

  Hospitality

  $316,150

  Educational

  $263,033

  Medical

  $272,079

  Retail

  $409,162

Location Insight

City

Nipomo

County

San Luis Obispo

State

California

Latitude

35.0366

Longitude

-120.486

CBSA code

42020

CBSA name

SAN LUIS OBISPO-PASO ROBLES, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].