Turton Commercial Real Estate is pleased to present the opportunity to acquire fee simple interest in 216 Washington Street, Auburn, CA 95603, APN: 004-011-039-000 (the “Property”). The standalone building housing a turnkey restaurant and bar represents a once-in-a-decade chance for an owner-operator or investor to break into the coveted Old Town Auburn retail sector.
The Property is comprised of one 5,158 square foot parcel of land which includes one single story building of approximately 3,148 square feet, with the remaining approximately 2,010 square feet of land currently used as a restaurant front patio and a small parking area. Built in 1950, the site has enjoyed continuous restaurant use (as the legendary Tio Pepe) for most of its history and benefits from such crucial infrastructure as a Type-1 exhaust hood with Ansul fire suppression system, walk-in refrigeration, and central HVAC. The property shows the Seller’s pride of ownership over 40+ years; a new roof (2023), new sewer line (2023), HVAC overhaul (2022), and walk-in cooler mechanical upgrades (2022) are among the notable and high ticket items.
The $1,350,000 sale price reflects an approximate 7.00% cap rate on pro-forma triple net rents, less projected improvements, and includes all Furnishings, Fixtures, and Equipment (“FF&E”) and a rare Placer County ABC Type-47 liquor license.
Per liquor license broker and veteran ABC investigator John Sutton, the scarcity of licenses in Placer County drives open market prices to $250,000–$280,000. The ABC Type-47 license is a valuable amenity for an owner-user buyer and will convey with the real estate, enhancing the property’s value proposition. Additionally, Mr. Sutton will manage document preparation and filing for the license transfer to ensure a seamless transaction for the buyer. For lease scenarios, the ABC License is available for sale, provided terms are acceptable to ownership and comply with all applicable laws.
