Drive-Through Restaurant
1487 Freedom Blvd Watsonville, CA 95076
1487 Freedom Blvd, Watsonville, CA, 95076
$2,100,000
For Sale
$2,100,000
Vacant 2,740 SF restaurant building with a drive-thru on a roughly 19,000 SF lot and abundant off-street parking.
Property Size2,740 SF
Lot Size0.44 Acres
Price / SF$766.42
Days on Market220
Property Features for 1487 Freedom Blvd
General Information
- Standard status
- Active
- Size
- 2,740 SF
- Lot size
- 0.44 Acres
- Property subtype
- General Commercial
Building Details
- Year Built
- 1990
Listing agency
Baird Partnership, Inc.
(831) 646-1919
Listed by
James Kendall
Source
Xome
Added: Dec 14, 2025 Updated: Jul 22 at 12:52PM Checked: Jul 22 at 12:52PM
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 Baird Partnership, Inc.
Investment Insights
Based on property information with market context.
For sale, 1487 Freedom Blvd is a vacant drive-through restaurant building totaling about 2,740 SF on an approximately 19,000 SF lot. Originally constructed in 1990 as a Fosters Freeze quick-serve restaurant, the property includes a fully functional kitchen area. The listing also notes the possibility of purchasing the FF&E.
The site is described as benefiting from a signalized hard intersection and an existing drive-thru queue, which can support quick service operations. The property has abundant off-street parking. The subject is directly across from Eden Housing, a major non-profit housing developer that completed the new 53-unit Tabasa Gardens apartment complex.
The improvements and layout are centered on restaurant use with drive-through functionality, supported by onsite kitchen facilities and a drive-thru queue.
The site is described as benefiting from a signalized hard intersection and an existing drive-thru queue, which can support quick service operations. The property has abundant off-street parking. The subject is directly across from Eden Housing, a major non-profit housing developer that completed the new 53-unit Tabasa Gardens apartment complex.
The improvements and layout are centered on restaurant use with drive-through functionality, supported by onsite kitchen facilities and a drive-thru queue.
Key Highlights
- Vacant 2,740 SF restaurant building originally constructed in 1990
- Drive‑thru included with an existing drive‑thru queue
- Roughly 19,000 SF lot with 31 off‑street parking spaces
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $148.0k | $54.00 |
| − Vacancy | −$7.0k | −$2.54 |
| EGI | $141.0k | $51.46 |
| − OpEx | −$35.3k | −$12.87 |
| NOI | $105.8k | $38.60 |
2,740 SF · lease $54.00/SF/yr · vacancy 4.70% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$1.51M
$1.32M – $1.76M
NOI $105,754 @ 7.0% cap · market cap 5.04%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$1.57M
$1.37M – $1.83M
NOI $109,671 @ 7.0% cap · market cap 5.22%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Fosters Freeze
Restaurant
Similar For Sale Nearby
FAQs
What type of property is this?
Drive through restaurant - Vacant 2,740 SF restaurant building with a drive-thru on a roughly 19,000 SF lot and abundant off-street parking.
Where is this drive through restaurant located?
The property is located at 1487 Freedom Blvd Watsonville, CA.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: Vacant 2,740 SF restaurant building originally constructed in 1990; Drive‑thru included with an existing drive‑thru queue; Roughly 19,000 SF lot with 31 off‑street parking spaces
