148 N Ocean Ave - Freestanding FOR SALE


Cayucos, CA 93430
$600,000 USD
949-903-3399
148 N Ocean Ave, Cayucos, CA for Sale
$600,000 USD
Freestanding - FOR SALE
1/4
null | 3.54% Cap Rate

148 N Ocean Ave
Cayucos, CA 93430


HIGHLIGHTS

  • Extremely Rare 100 Year Ground Lease (77+ Yrs. Left) - Fee Simple Ownership - Absolute NNN
  • Very Attractive Low Price Point - $600,000 - Annual CPI Increases - Great Inflation Hedge
  • Trophy Downtown Location just Steps to Pacific Ocean/Pier- Affluent Resort Town
  • 22+ Year Operating History - Way Below Market Rent - Low Downside Risk - Stable Cash Flow
  • San Luis Obispo MSA - Attractive Real Estate Fundamentals - Significant Barriers to Entry
  • Tourist Destination - Just South of Big Sur/Hearst Castle - Range of Lodging/Entertainment Options

OVERVIEW

The Snyder Carlton National Net Lease Team is pleased to offer to investors an opportunity to acquire a long term absolute NNN ground leased storefront in Cayucos, CA. Fully Occupied by Highway 1 Rentals, the ground lease has over 77 years remaining in the primary term. With zero landlord responsibilities and annual CPI rent increases, this asset is ideal for an investor seeking passive cash flows for years to come. The 3,000 SF building on 3,750 SF parcel is strategically located along Ocean Avenue and is only a block from Cayucos Beach and Pier. Cayucos is a charming beachside community within San Luis Obispo County (7 million visitors annually) and is within 7 miles of Morro Bay and 20 miles from downtown San Luis Obispo. Additionally, the world-famous Highway is adjacent to Cayucos leading to Big Sur which sees more visitors than Yosemite National Park.

FOR SALE DETAILS

PRICE

$600,000 USD

PRICE/SF

$200 USD /SF

CAP RATE

3.54%

% LEASED

-

TENANCY

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Highway One Realty

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1960

SPRINKLERS

-

PARKING SPACES

2

LAND DETAILS

LAND ACRES

0.09 AC

LAND SF

3,920 SF

ZONING

60

APN/PARCEL ID

064-113-028

ASK ABOUT THIS PROPERTY

Eric CarltonColliersMore Info
949-903-3399

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Eric CarltonColliersMore Info
949-903-3399

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.