Historic Retail and Restaurant
823 Guadalupe Street Guadalupe, CA 93434
For Sale
$1,525,000
Built circa 1926, the property includes a restaurant, two vacant retail suites fronting Hwy 1, and residential space upstairs.
Property Size7,400 SF
Price / SF$206.08
Days on Market155
Property Features for 823 Guadalupe Street
General Information
- Standard status
- Active
- Size
- 7,400 SF
- Property subtype
- Commercial Sale / Mixed Use
Listing Agency:
Century 21 Masters-Arroyo Grande
(805) 489-2100
Listed By:
Gary Gracia · License #01003239
(805) 489-2100
Source:
Compass
Added: Feb 19
Changed: Jul 23
Last Checked: Jul 23 at 3:54PM
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 Century 21 Masters-Arroyo Grande
Investment Insights
Based on property information with market context.
Built about 1926 and retrofitted in recent years, this circa 1920s Guadalupe commercial building is known for maintaining its classic facade. The property has previously served as a community landmark and currently includes a long-running restaurant and bar, with the remainder of the building featuring two additional vacant retail suites, plus residential use upstairs. During a seismic retrofit some years back, the restaurant was closed, though it has operated since 1944.
The two vacant retail suites front Hwy 1. Sellers also have plans to develop the vacant portion of the lot for multi-family / H2A housing, with a nearly fully entitled 24-unit project. Sellers report planning approval from City Council and that construction documents were submitted to the city; comments were received and, as of October 2025, resubmittal had not occurred. See the attached submission materials for more information.
The two vacant retail suites front Hwy 1. Sellers also have plans to develop the vacant portion of the lot for multi-family / H2A housing, with a nearly fully entitled 24-unit project. Sellers report planning approval from City Council and that construction documents were submitted to the city; comments were received and, as of October 2025, resubmittal had not occurred. See the attached submission materials for more information.
Key Highlights
- Built about 1926 and currently includes the long‑running La Simpatia Restaurant and Bar
- Includes two additional vacant retail suites fronting Hwy 1
- Residential use upstairs in the Guadalupe commercial building
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 | $159.8k | $21.60 |
| − Vacancy | −$5.3k | −$0.71 |
| EGI | $154.6k | $20.89 |
| − OpEx | −$38.6k | −$5.22 |
| NOI | $115.9k | $15.67 |
7,400 SF · lease $21.60/SF/yr · vacancy 3.30% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$1.66M
$1.45M – $1.93M
NOI $115,924 @ 7.0% cap · market cap 7.60%
Second Best
Retail
$1.64M
$1.44M – $1.92M
NOI $114,996 @ 7.0% cap · market cap 7.54%
Theoretical Best
Multifamily LT 5
$2.32M
$2.03M – $2.71M
NOI $162,579 @ 7.0% cap · market cap 10.66%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Conventional restaurants
FAQs
What type of property is this?
Conventional restaurant - Built circa 1926, the property includes a restaurant, two vacant retail suites fronting Hwy 1, and residential space upstairs.
Where is this conventional restaurant located?
The property is located at 823 Guadalupe Street Guadalupe, CA.
What is the asking price?
The asking price for this property is $1,525,000.
What are key features of this property?
This property features: Built about 1926 and currently includes the long‑running La Simpatia Restaurant and Bar; Includes two additional vacant retail suites fronting Hwy 1; Residential use upstairs in the Guadalupe commercial building
