222 E. Carrillo Street, Suite 101, Santa Barbara, California 93101 | HayesCommercial.com • 100% NNN-LEASED TO SINGLE TENANT • FREESTANDING RESTAURANT IN OUTSTANDING LOCATION • BLOCKS FROM THE BEACH The information contained herein has been obtained from the owner of the property or from other sources deemed reliable. We have no reason to doubt its accuracy, but we do not guarantee it. 2/6/19 Francois DeJohn 805.898.4365 [email protected]lic. 01144570 Steve Hayes 805.898.4370 [email protected]lic. 00827640 Experience. Integrity. Trust. Since 1993 FOR SALE 699 Linden Ave, Carpinteria, CA | High-Profile Freestanding Restaurant | 2,987 SF
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222 E. Carrillo Street, Suite 101, Santa Barbara, California 93101 | HayesCommercial.com
• 100% NNN-LEASED TO SINGLE TENANT
• FREESTANDING RESTAURANT IN OUTSTANDING LOCATION
• BLOCKS FROM THE BEACH
The information contained herein has been obtained from the owner of the property or from other sources deemed reliable. We have no reason to doubt its accuracy, but we do not guarantee i t. 2/6/19
FOR SALE 699 Linden Ave, Carpinteria, CA | High-Profile Freestanding Restaurant | 2,987 SF
Size: 2,987 SF
Land Size: 9,147 SF
Price: $2,800,000 (4% cap rate)
APN: 003-312-004
Tenant: 100% NNN-leased to PizzaMan Dan’s
Zoning: CB Central Business District (visitor serving overlay)
Parking: 12 spaces
Seating: Approx. 120
HVAC: Yes
Remodel: Completely renovated in 2016
CSO%: 2.5%
To Show: Call listing agent
Property OverviewThis landmark restaurant building offers a central location on a corner parcel at a four-way stop on Linden Avenue, just three blocks from the beach in Carpinteria. Easily accessed by diners arriving by foot, bike, car or even train, as the Amtrak station is close by.
The information contained herein has been obtained from the owner of the property or from other sources deemed reliable. We have no reason to doubt its accuracy, but we do not guarantee i t. 2/6/19
222 E. Carrillo Street, Suite 101, Santa Barbara, California 93101 | HayesCommercial.com 2
699 Linden Ave, Carpinteria, CA | High-Profile Freestanding Restaurant | 2,987 SFFOR SALE
Lease Summary
Tenant: PizzaMan Dan’s
Square Feet: 2,987 SF
Lease End: 8/31/21
Options: Two 5-year options at FMV, then annual CPI
CPI: Annual CPI (2-5% rent adjust-ments, every 9/1)
Monthly Base Rent: Currently $7,315.96 (or 8% of sales) plus $1,993.60 for TI amortization (can go out 20 years) plus $2,044.83 for estimated property taxes and insurance
NOI: $113,408.75 (last 12 months)
Utilities: Tenant pays all utilities
Improvements: Owner spent approx. $900,000 on the remodel in 2016 and tenant spent additional money
The information contained herein has been obtained from the owner of the property or from other sources deemed reliable. We have no reason to doubt its accuracy, but we do not guarantee i t. 2/6/19
222 E. Carrillo Street, Suite 101, Santa Barbara, California 93101 | HayesCommercial.com 3
699 Linden Ave, Carpinteria, CA | High-Profile Freestanding Restaurant | 2,987 SFFOR SALE
Site Plan
7TH STREET
LIN
DEN
AV
ENU
E
Interior
Outdoor seating
Trash enclosure
Parking
Overhangs
RR
RR
RR
The information contained herein has been obtained from the owner of the property or from other sources deemed reliable. We have no reason to doubt its accuracy, but we do not guarantee i t. 2/6/19
222 E. Carrillo Street, Suite 101, Santa Barbara, California 93101 | HayesCommercial.com 4
699 Linden Ave, Carpinteria, CA | High-Profile Freestanding Restaurant | 2,987 SFFOR SALE
1. City Market
2. Esau’s Cafe
3. Siam Elephant Thai
4. Tidepools
5. Rincon Design Surf Shop
6. Giannfranco’s Trattoria
7. Little Dom’s Seafood
8. Oaxaca Fresh
9. Whimsy Boutique
10. Tacos Don Roge
11. Traveling Pants
12. Beach Liquor
13. Tacos To Go
14. Rite Aid
15. Island Outfitters
16. Reynaldo’s Bakery
17. Senor Frog’s
18. Guicho’s Eatery
19. Nutbelly
20. The Worker Bee Cafe
21. Sushi Teri
22. Giovanni’s
23. The Coffee Bean & Tea Leaf
24. Carpinteria & Linden Pub
25. Rabobank
Nearby Retail Businesses and Restaurants
12
34
5
67
8
9
10
1112
13
1415
16
17
1819
20
21 22
24
25
23
SITE
1 block to
3 blocks tobeach
The information contained herein has been obtained from the owner of the property or from other sources deemed reliable. We have no reason to doubt its accuracy, but we do not guarantee i t. 2/6/19
222 E. Carrillo Street, Suite 101, Santa Barbara, California 93101 | HayesCommercial.com 5
699 Linden Ave, Carpinteria, CA | High-Profile Freestanding Restaurant | 2,987 SFFOR SALE
CarpinteriaCarpinteria is a coastal community with small-town charm valued by visitors and residents alike. Beautiful beaches, breathtaking mountain views, and a diverse economy make Carpinteria a wonderful place to live, work, and play.
Located approximately 12 miles southeast of Santa Barbara and 80 miles northwest of Los Angeles – Carpinteria features sandy, south-facing beaches running the length of the city and a coastal mountain range providing a stun-ning backdrop. Highway 101 courses through the city, and Amtrak trains stop at a station by the beach.
Carpinteria’s economy is based on agriculture, tourism/retail, light industry, and research & development. Nusil, Lynda.com, Dako, and CKE Restaurants (Carl’s Jr.) are a just few of the notable companies operating in the community.
Linden Avenue downtown provides a charming pedestrian-friendly retail corri-dor with restaurants, cafes, antiques and other shopping attractions. The city’s parks and beaches offer ample opportunities for recreation, and the Santa Barbara Polo & Racquet Club is also in Carpinteria.
The city hosts an annual Avocado Festival in the center of town, drawing 100,000 people during the first weekend of October. The festival’s proceeds support more than forty non-profit groups. Santa Barbara County is the third largest avocado producer in North America, with Carpinteria growing about 20 percent of the county’s output. Also a major flower producer, blooms from Carpinteria’s greenhouses and fields appear in wholesale and retail outlets all over the U.S. and Canada.
Area Information
The information contained herein has been obtained from the owner of the property or from other sources deemed reliable. We have no reason to doubt its accuracy, but we do not guarantee i t. 2/6/19
