In-N-Out Drive-Through
For Sale
Contact for pricing
49 W EL CAMINO REAL, Mountain View, CA 94040
Single-tenant restaurant property with an additional vacant office building in Mountain View.
Property Size9,805 SF
Price / SF$1,121
Days on Market124
Property Features for 49 W EL CAMINO REAL
General Information
Standard status
Active
Size
9,805 SF
Class
B
Total Parking Spaces
53
Property subtype
Retail, Office
Zoning
C3 – Mountain View
Occupancy
35%
Lease Type
NNN
Investment Type
Net Lease
Additional Details
Drive-Thru
Yes
Building Details
Year Built
2001
Buildings
2
Stories
1
Units
53
Tenancy
Multi
Listing Agency:
CBRE - Orange County
(949) 725-8625
Listed By:
Jay Gomez · License #CA 01364065
Source:
Crexi
Added: Apr 28
Changed: Aug 29
Last Checked: Aug 29 at 3:28PM
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 CBRE - Orange County
Investment Insights
Based on property information with market context.
This commercial portfolio includes a single-tenant In-N-Out Burger drive-through restaurant and a vacant office building at 49 W El Camino Real in Mountain View, California. The property encompasses 9,805 square feet and was built in 2001. Zoning is C3 – Mountain View.
In-N-Out Burger has operated at the site since 2001. In March 2026, the tenant exercised its remaining five-year lease renewal option. The offering combines an operating drive-through restaurant with separately available office space within the same portfolio.
In-N-Out Burger has operated at the site since 2001. In March 2026, the tenant exercised its remaining five-year lease renewal option. The offering combines an operating drive-through restaurant with separately available office space within the same portfolio.
Key Highlights
- 9,805‑square‑foot commercial property in Mountain View, California
- Single‑tenant In‑N‑Out Burger drive‑through restaurant
- In‑N‑Out Burger has operated at the site since 2001
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
$344,931
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
3.14%
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%
$6,898,620
$6.9M
Cap Rate 7%
$4,927,586
$4.9M
Cap Rate 9%
$3,832,567
$3.8M
Market Conditions
NOI Build-Up for 9,805 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
$549.5K $56.04/SF
− Vacancy
−$89.6K −$9.13/SF
EGI
$459.9K $46.91/SF
− OpEx
−$115.0K −$11.73/SF
NOI
$344.9K $35.18/SF
Area
Santa Clara County, CA
Vacancy
16.30%
Lease Rate
$56.04 /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%
$6,898,620
Cap Rate 7%
$4,927,586
Cap Rate 9%
$3,832,567
Alternative Uses
Best Use
Office B
$4.93M
$4.31M – $5.75M
NOI $344,931 @ 7.0% cap · market cap 3.14%
Second Best
Specialty Retail
$2.61M
$2.28M – $3.04M
NOI $182,491 @ 7.0% cap · market cap 1.66%
Theoretical Best
Office A
$5.92M
$5.18M – $6.91M
NOI $414,360 @ 7.0% cap · market cap 3.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,268
Businesses Nearby
Explore this area
Business Placement
Demographics for 94040, CA
36,501
Population
16,963
Households
2.2
Avg Household Size
36
Median Age
78%
College-Educated
95%
High-School Grad
3.7 sq mi
ZIP Area
9,865
Density / Sq Mi
$184,494
Median Household Income
$120,047
Median Earnings
$3,017
Median Rent
$2,000,001
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Drive through restaurant - Single-tenant restaurant property with an additional vacant office building in Mountain View.
Where is this drive through restaurant located?
The property is located at 49 W EL CAMINO REAL Mountain View, CA.
What is the asking price?
The asking price for this property is $11,000,000.
What are key features of this property?
This property features: 9,805‑square‑foot commercial property in Mountain View, California; Single‑tenant In‑N‑Out Burger drive‑through restaurant; In‑N‑Out Burger has operated at the site since 2001
