Taco Bell Anchored Strip
For Sale
Contact for pricing
7385 El Camino Real, Atascadero, CA 93422
Value-add opportunity in a prime California coastal location.
Property Size38,599 SF
Price / SF$215.03
Days on Market100
Property Features for 7385 El Camino Real
General Information
Standard status
Active
Size
38,599 SF
Property subtype
Retail
Zoning
CR - Commercial Retail
Occupancy
94%
Lease Type
NNN
Investment Type
Value Add
Net Operating Income
$503,890
Building Details
Year Built
1982
Buildings
3
Stories
1
Units
21
Tenancy
Multi
Listing Agency:
Essential Capital Advisors
Listed By:
Michael Cisternino · License #CA 01708023
Source:
Crexi
Added: May 26
Changed: Aug 26
Last Checked: Sep 1 at 11:51PM
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 Essential Capital Advisors
Investment Insights
Based on property information with market context.
This commercial real estate offering features a strip center anchored by a Taco Bell. The property presents a value-add opportunity and is situated in a prime California coastal location. The property size is 38599 square feet.
Key Highlights
- Taco Bell Anchored
- Prime California Coastal Location
- Value‑Add Opportunity
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
$627,064
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
7.55%
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%
$12,541,280
$12.5M
Cap Rate 7%
$8,958,057
$9.0M
Cap Rate 9%
$6,967,378
$7.0M
Market Conditions
NOI Build-Up for 38,599 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
$926.4K $24.00/SF
− Vacancy
−$30.6K −$0.79/SF
EGI
$895.8K $23.21/SF
− OpEx
−$268.7K −$6.96/SF
NOI
$627.1K $16.25/SF
Area
San Luis Obispo County, CA
Vacancy
3.30%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
30.00%
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%
$12,541,280
Cap Rate 7%
$8,958,057
Cap Rate 9%
$6,967,378
Alternative Uses
Best Use
Retail
$8.96M
$7.84M – $10.45M
NOI $627,064 @ 7.0% cap · market cap 7.55%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$15.18M
$13.28M – $17.71M
NOI $1,062,627 @ 7.0% cap · market cap 12.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,344
Businesses Nearby
209k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 47%
Shops & Services 32%
Groceries 19%
Beauty & Spa 1%
VONS
Groceries
39,808 visits/mo
0.3 miles
McDonald's
Dining
24,306 visits/mo
0.4 miles
76
Shops & Services
17,843 visits/mo
0.3 miles
Starbucks
Dining
12,554 visits/mo
0.4 miles
Taco Bell
Dining
12,112 visits/mo
0.1 miles
Demographics for 93422, CA
33,041
Population
13,702
Households
2.4
Avg Household Size
42
Median Age
31%
College-Educated
93%
High-School Grad
68.8 sq mi
ZIP Area
480
Density / Sq Mi
$89,916
Median Household Income
$46,939
Median Earnings
$1,841
Median Rent
$692,100
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?
Strip mall - Value-add opportunity in a prime California coastal location.
Where is this strip mall located?
The property is located at 7385 El Camino Real Atascadero, CA.
What is the asking price?
The asking price for this property is $8,300,000.
What are key features of this property?
This property features: Taco Bell Anchored; Prime California Coastal Location; Value‑Add Opportunity
