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    Shell Station with Income Property Title is generated by Realmo AI

    109 S Main St, Big Pine, CA 93513

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    NNN leased Shell station with 20 years remaining.

    Type:Retail
    Property size:
    5,737 SF
    Lot size:
    1.61 Acres
    Price / SF:
    $516/SF
    Added:
    Jun 8, 2023
    Days on Market:
    1091
    Last Refresh:
    May 12 at 8:07 pm

    Property Features for 109 S Main St

    General Information

    Standard status
    Active
    Size
    5,737 SF
    Lot size
    1.61 Acres
    Property subtype
    Retail

    We can help!

    Listing Contact
    Eric Carlton

    Listing agent Eric Carlton License #CA 01809955

    Listing office Colliers - Los Angeles - Orange County, California

    Listing date Jun 8, 2023

    Source Crexi

    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 Colliers - Los Angeles - Orange County, California

    HighLights

    • Absolute NNN lease with 20 years remaining, offering passive income and zero landlord responsibilities.
    • Located on U.S. Route 395, a major connector to Mammoth Lakes and East Yosemite National Park.
    • Large 1.61‑acre parcel featuring 15 fuel pumps (8 MPDs), convenience store, and ample parking.
    • Includes a 3 bed/2 bath 1,728 SF single‑family residence.
    • Features amenities catering to a wide range of customers: four service bays, showers, propane refill, truck scale, and outdoor storage.
    • Annual rent increases provide a hedge against inflation and increase investment returns.

    Overview

    This property features an absolute NNN leased Shell service station and convenience store located in Big Pine, CA. The property has 20 years remaining in the primary term, annual rent increases, and zero landlord responsibilities. The large 1.61-acre parcel is positioned on U.S. Route 395, the main connector between southern California, Mammoth Lakes, and East Yosemite National Park. Big Pine is an hour away from Mammoth Lakes and Mammoth Mountain, which attracts over 3 million visitors annually. Yosemite National Park, which attracts over 3.6 million visitors annually, is within 90 miles. The service station caters to automobiles, RVs, and trucks with amenities including 15 fuel pumps (8 MPDs), a convenience store, four service bays, showers, propane refill, a truck scale, ample parking for both automobiles and Trucks/RVs, and outdoor storage. Also included with the sale is a 1,728 SF single family residence with 3 beds and 2 baths located in the northwest corner of the property. The property is suitable for a 1031 Exchange.
    Property Profile Location Intelligence

    Current Use by Public Records

    Shell Gas Station TNT Fireworks Department Store

    Suggested Use

    Restaurant Auto Repair Shop Gym & Fitness Center Department Store Storage Facility HVAC Service Hotel & Motel Auto Parts Store Discount Store Grocery & Convenience Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Big Pine
    County
    Inyo
    State
    California
    Longitude
    -118.2899427
    Latitude
    37.1657983

    FAQs

    What type of property is this?
    Gas station - NNN leased Shell station with 20 years remaining.
    Where is this gas station located?
    The property is located at 109 S Main St Big Pine, CA.
    What is the asking price?
    The asking price for this property is $2,962,963.
    What are key features of this property?
    This property features: Absolute NNN lease with 20 years remaining, offering passive income and zero landlord responsibilities.; Located on U.S. Route 395, a major connector to Mammoth Lakes and East Yosemite National Park.; Large 1.61‑acre parcel featuring 15 fuel pumps (8 MPDs), convenience store, and ample parking.
    (949) 724-5552 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Eric Carlton
    Real Estate License ID: CA 01809955
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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