Freestanding Restaurant with
For Sale
Contact for pricing
29000 Old Town Front Street, Temecula, CA 92590
Freestanding restaurant and separate drive-thru building with indoor dining, full bar, and outdoor patio seating.
Property Size8,889 SF
Price / SF$393.75
Days on Market59
Property Features for 29000 Old Town Front Street
General Information
Standard status
Active
Size
8,889 SF
Property subtype
Retail, Mixed Use, Business for Sale
Building Details
Year Built
1989
Listing Agency:
MGR Real Estate
(909) 917-2179
Listed By:
Jesselyn Torlak · License #02073928
Source:
Crexi
Added: Jun 13
Changed: Aug 8
Last Checked: Aug 10 at 11:26AM
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 MGR Real Estate
Investment Insights
Based on property information with market context.
This property includes a freestanding restaurant building and a separate freestanding drive-thru building on the same parcel. The main restaurant is designed for full-service dining with expansive indoor seating, a full bar, and outdoor patio seating on both the side and rear of the property. The drive-thru building provides an additional operational option for quick-service service models. A liquor license is noted for the main restaurant.
The site is located immediately off Interstate 15, providing freeway visibility and convenient on/off access. The property is described as having strong traffic counts and strong exposure.
For an operator seeking an owner-user setup, the layout supports dine-in and bar service alongside patio dining, while the separate drive-thru building can be occupied by the same user or leased independently. This combination of a full-service restaurant and a distinct drive-thru facility on one parcel can also fit buyers looking to structure occupancy across both buildings based on their business plan.
The site is located immediately off Interstate 15, providing freeway visibility and convenient on/off access. The property is described as having strong traffic counts and strong exposure.
For an operator seeking an owner-user setup, the layout supports dine-in and bar service alongside patio dining, while the separate drive-thru building can be occupied by the same user or leased independently. This combination of a full-service restaurant and a distinct drive-thru facility on one parcel can also fit buyers looking to structure occupancy across both buildings based on their business plan.
Key Highlights
- 7,500 SF freestanding restaurant plus a separate 1,380 SF freestanding drive‑thru building on the same parcel
- Main restaurant includes expansive indoor dining and a full bar with a liquor license
- Outdoor patio seating on both the side and rear of the property
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
$138,664
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
3.96%
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%
$2,773,280
$2.8M
Cap Rate 7%
$1,980,914
$2.0M
Cap Rate 9%
$1,540,711
$1.5M
Market Conditions
NOI Build-Up for 8,889 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
$196.3K $22.08/SF
− Vacancy
−$11.4K −$1.28/SF
EGI
$184.9K $20.80/SF
− OpEx
−$46.2K −$5.20/SF
NOI
$138.7K $15.60/SF
Area
Temecula, CA
Vacancy
5.80%
Lease Rate
$22.08 /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%
$2,773,280
Cap Rate 7%
$1,980,914
Cap Rate 9%
$1,540,711
Alternative Uses
Best Use
Specialty Retail
$1.98M
$1.73M – $2.31M
NOI $138,664 @ 7.0% cap · market cap 3.96%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.76M
$2.41M – $3.22M
NOI $193,129 @ 7.0% cap · market cap 5.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
492
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 92590, CA
4,840
Population
2,023
Households
2.4
Avg Household Size
40
Median Age
33%
College-Educated
91%
High-School Grad
54.4 sq mi
ZIP Area
89
Density / Sq Mi
$76,952
Median Household Income
$41,510
Median Earnings
$1,289
Median Rent
$1,201,400
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.
Similar Off Market Nearby
- Hibachi buffet — Overland in Jefferson, Temecula, CA 92592
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Freestanding restaurant and separate drive-thru building with indoor dining, full bar, and outdoor patio seating.
Where is this conventional restaurant located?
The property is located at 29000 Old Town Front Street Temecula, CA.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: 7,500 SF freestanding restaurant plus a separate 1,380 SF freestanding drive‑thru building on the same parcel; Main restaurant includes expansive indoor dining and a full bar with a liquor license; Outdoor patio seating on both the side and rear of the property
