200 5th Cities Dr Pismo Beach, CA 93449-3004

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.