Freestanding Restaurant with Two
For Sale
Contact for pricing
1575 Calle Joaquin, San Luis Obispo, CA 93405
Freestanding 5,940 SF restaurant on 1.05 acres with freeway visibility, high-volume kitchen, walk-in refrigeration, and two patios.
Property Size5,940 SF
Lot Size1.05 Acres
Price / SF$386.36
Days on Market53
Property Features for 1575 Calle Joaquin
General Information
Standard status
Active
Size
5,940 SF
Lot size
1.05 Acres
Property subtype
RETAIL
Additional Details
Asking Price
$2,295,000
Patio
Yes
Building Details
Buildings
1
Listing Agency:
Archer Wilkinson
(805) 781-3092
Listed By:
Bill Carpenter · License #00881534
(805) 234-3537
Source:
Moodyscre
Added: Jul 23
Changed: Sep 8
Last Checked: Sep 13 at 10:10AM
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 Archer Wilkinson
Investment Insights
Based on property information with market context.
Freestanding restaurant with approximately 5,940 SF on a 1.05-acre site, designed for high-volume service. The property includes a high-volume kitchen and walk-in refrigeration, plus seating for 100+ guests. Two patios provide additional outdoor space for patrons.
Freeway visibility supports ongoing retail demand, and the property is offered with immediate occupancy. The space is positioned for turnkey operations, including readiness for EV infrastructure, with the landlord able to add up to 50 EV charging stalls.
This is a standalone restaurant building well-suited for an operator seeking a drive-by-visible location and functional kitchen and guest-space layout with indoor and outdoor dining options.
Freeway visibility supports ongoing retail demand, and the property is offered with immediate occupancy. The space is positioned for turnkey operations, including readiness for EV infrastructure, with the landlord able to add up to 50 EV charging stalls.
This is a standalone restaurant building well-suited for an operator seeking a drive-by-visible location and functional kitchen and guest-space layout with indoor and outdoor dining options.
Key Highlights
- 5,940 SF freestanding restaurant building on 1.05 acres
- Freeway visibility
- High‑volume kitchen with walk‑in refrigeration
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
$84,993
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
3.70%
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%
$1,699,860
$1.7M
Cap Rate 7%
$1,214,186
$1.2M
Cap Rate 9%
$944,367
$944.4K
Market Conditions
NOI Build-Up for 5,940 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
$119.0K $20.04/SF
− Vacancy
−$5.7K −$0.96/SF
EGI
$113.3K $19.08/SF
− OpEx
−$28.3K −$4.77/SF
NOI
$85.0K $14.31/SF
Area
San Luis Obispo County, CA
Vacancy
4.80%
Lease Rate
$20.04 /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%
$1,699,860
Cap Rate 7%
$1,214,186
Cap Rate 9%
$944,367
Alternative Uses
Best Use
Specialty Retail
$1.21M
$1.06M – $1.42M
NOI $84,993 @ 7.0% cap · market cap 3.70%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$2.34M
$2.04M – $2.73M
NOI $163,528 @ 7.0% cap · market cap 7.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
501
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 93405, CA
23,331
Population
9,687
Households
2.4
Avg Household Size
28
Median Age
52%
College-Educated
95%
High-School Grad
89.7 sq mi
ZIP Area
260
Density / Sq Mi
$52,481
Median Household Income
$12,402
Median Earnings
$1,936
Median Rent
$897,800
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Freestanding 5,940 SF restaurant on 1.05 acres with freeway visibility, high-volume kitchen, walk-in refrigeration, and two patios.
Where is this conventional restaurant located?
The property is located at 1575 Calle Joaquin San Luis Obispo, CA.
What is the asking price?
The asking price for this property is $2,295,000.
What are key features of this property?
This property features: 5,940 SF freestanding restaurant building on 1.05 acres; Freeway visibility; High‑volume kitchen with walk‑in refrigeration
