200 5th Cities Dr, Pismo Beach, CA 93449-3004
- Gas stations
- 2,786 SF
- 0.29 lot acres
Current Use by Public Records
- Sam’s Market / Grocery & Convenience Store
- Shell / Gas Station
Property Details for 200 5th Cities Dr
- Year built
- 1998
- Construction
- WOOD
- Lot size
- 0.29 lot acres
- Zone code
- C1
- Property type
- Gas stations
- APN
- 005-242-002
- APU
- 5242002
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Jan 22, 2025 | $1,525,000 | Raymond Zerbib | Jdt LLC | Grant Deed | — |
| May 4, 2021 | $1,150,000 | Jdt LLC | Jafar Imad Rasool | Grant Deed | — |
| May 4, 2021 | — | Imad Rasool Jafair | Jafar Imad Rasool | Intrafamily Transfer · related | — |
| Dec 6, 2017 | — | Imad,rasool Jafar Living Trust | Rasool,imad | Quit Claim Deed · related | — |
| Oct 24, 1994 | — | Imad Rasool | Rasool,imad | Quit Claim Deed · related | — |
| Sep 27, 1994 | — | Imad Rasool | Gallo,george & Catherin | Quit Claim Deed · related | — |
| — | — | Imad Rasool | — | Deed Of Trust · related | $200k · Individual |
| — | — | Gallo George W | — | Deed Of Trust · related | $300k · New West Petrole |
Description
This exceptional investment opportunity presents a 2,786 square foot Shell-branded gas station and convenience store in Pismo Beach, CA. The property, built in 1998, sits on a 12,600 square foot lot zoned C1, boasting a prime location on a high-traffic street (15,700+ cars daily in 2017) near major retailers like the Pismo Coast Premium Outlet. The two-story building features six parking spaces, a picnic area, and eight gas pumps. Currently operating under a single-tenant, absolute NNN lease (zero landlord responsibilities) with Valley Convenience Stores, Inc., expiring in 2037, the lease provides a fixed annual rental rate of $25.84 per square foot with no rent increases through the lease term. The property offers a current NOI of $72,000 and a pro-forma NOI of $180,000, representing a 4.50% cap rate. The asking price is $1,600,000 ($574.30/sq ft), significantly below replacement cost. Seller financing may be available to qualified buyers. This turnkey operation benefits from a stable cash flow and substantial upside potential, situated in a thriving coastal community with a median household income of $71,046 within a one-mile radius. The property's proximity to popular attractions like North Bach Campground and Pismo Beach Mobile Home Park further enhances its appeal. This is a rare opportunity to acquire a well-established, high-performing retail property in a desirable location.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $1,630,000
- ML approach
- $1,675,000
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Pismo Beach
- County
- San Luis Obispo
- State
- California
- Longitude
- -120.63
- Latitude
- 35.1372
- CBSA code
- 42020
- CBSA name
- SAN LUIS OBISPO-PASO ROBLES, CA METROPOLITAN STATISTICAL AREA
