Breakfast and Lunch
New
For Sale
$225,000
1049 Casitas Pass Rd, Carpinteria, CA 93013
The restaurant offers casual dining with American favorites and Asian-inspired menu selections.
Property Size1,150 SF
Price / SF$195.65
Days on Market3
Property Features for 1049 Casitas Pass Rd
General Information
Standard status
Active
Size
1,150 SF
Property subtype
Business Opportunity
Additional Details
Business Included
Yes
Building Details
Year Built
1979
Listing Agency:
Real Estate EBroker, Inc.
Listed By:
Pardeep Singh · License #02214563
(760) 722-3222
Source:
Myfabuloushome
Added: Sep 28
Last Checked: Sep 29 at 10:31AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Real Estate EBroker, Inc.
Investment Insights
Based on property information with market context.
Hugo’s is an established restaurant business at 1049 Casitas Pass Road in Carpinteria. The operation serves breakfast and lunch in a casual dining setting, with a menu spanning American favorites and Asian-inspired dishes. The property information lists a size of 1,150 square feet and a 1979 year built.
The business has operated for 33 years and has more than 200 Google reviews, with an approximately 4.5+ star rating. The sale includes a restaurant with an established breakfast-and-lunch concept.
The business has operated for 33 years and has more than 200 Google reviews, with an approximately 4.5+ star rating. The sale includes a restaurant with an established breakfast-and-lunch concept.
Key Highlights
- Restaurant business with 33 years of operation
- 1,150 square feet; year built 1979
- Breakfast and lunch service
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$18,015
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.01%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$360,300
$360.3K
Cap Rate 7%
$257,357
$257.4K
Cap Rate 9%
$200,167
$200.2K
Market Conditions
NOI Build-Up for 1,150 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$24.8K $21.60/SF
− Vacancy
−$820 −$0.71/SF
EGI
$24.0K $20.89/SF
− OpEx
−$6.0K −$5.22/SF
NOI
$18.0K $15.67/SF
Area
Santa Barbara County, CA
Vacancy
3.30%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$360,300
Cap Rate 7%
$257,357
Cap Rate 9%
$200,167
Alternative Uses
Best Use
Specialty Retail
$257.4K
$225.2K – $300.3K
NOI $18,015 @ 7.0% cap · market cap 8.01%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$360.9K
$315.8K – $421.1K
NOI $25,266 @ 7.0% cap · market cap 11.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
887
Businesses Nearby
170k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 46%
Groceries 27%
Shops & Services 23%
Hotels & Casinos 2%
McDonald's
Dining
33,577 visits/mo
0.1 miles
Albertsons
Groceries
29,068 visits/mo
0.1 miles
ARCO
Shops & Services
17,571 visits/mo
0.1 miles
Starbucks
Dining
16,772 visits/mo
0.1 miles
Smart & Final
Groceries
16,116 visits/mo
0.4 miles
Demographics for 93013, CA
16,299
Population
7,640
Households
2.1
Avg Household Size
45
Median Age
46%
College-Educated
87%
High-School Grad
41.4 sq mi
ZIP Area
394
Density / Sq Mi
$115,633
Median Household Income
$49,017
Median Earnings
$2,331
Median Rent
$1,074,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in West region
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Similar Off Market Nearby
- Prufrock's Garden Inn by the Beach — 600 Linden Ave, Carpinteria, CA 93013
Frequently Asked Questions
What type of property is this?
Breakfast & diner - The restaurant offers casual dining with American favorites and Asian-inspired menu selections.
Where is this breakfast & diner located?
The property is located at 1049 Casitas Pass Rd Carpinteria, CA.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: Restaurant business with 33 years of operation; 1,150 square feet; year built 1979; Breakfast and lunch service
