Craftsman Live-Work
For Sale
$750,000
1545 Park Street, Paso Robles, CA 93446
Circa-1900 property with central air and adaptable commercial or residential use.
Property Size1,290 SF
Price / SF$581.40
Days on Market143
Property Features for 1545 Park Street
General Information
Standard status
Active
Size
1,290 SF
Property subtype
Office
Property Condition
Severity
Repairs Needed
Evidence
minor modifications
Amenities
Central Air
3
Composition
Rectangular
Rectangular.
Building Details
Year Built
1900
Buildings
1
Construction
craftsman
Listing Agency:
RE/MAX Parkside Real Estate
(805) 239-3310
Listed By:
Jamie Kelton · License #01900705
Source:
Xome
Added: Apr 10
Changed: Aug 30
Last Checked: Aug 30 at 2:22PM
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 RE/MAX Parkside Real Estate
Investment Insights
Based on property information with market context.
Built in 1900, this 1,290-square-foot Craftsman-style property combines period character with a practical layout for flexible occupancy. The interior includes three bedrooms and one bathroom, while central air supports year-round comfort. A broad front porch and rectangular configuration add to the building’s established residential character.
The property is located near restaurants, tasting rooms, boutiques, and parks in downtown Paso Robles. Its existing arrangement supports continued commercial use, with the option to return the space to residential living through minor modifications.
The property is located near restaurants, tasting rooms, boutiques, and parks in downtown Paso Robles. Its existing arrangement supports continued commercial use, with the option to return the space to residential living through minor modifications.
Key Highlights
- 1,290‑square‑foot Craftsman‑style property built in 1900
- Three bedrooms and one bathroom
- Central air conditioning
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$24,009
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.20%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$480,180
$480.2K
Cap Rate 7%
$342,986
$343.0K
Cap Rate 9%
$266,767
$266.8K
Market Conditions
NOI Build-Up for 1,290 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$34.1K $26.40/SF
− Vacancy
−$2.0K −$1.58/SF
EGI
$32.0K $24.82/SF
− OpEx
−$8.0K −$6.20/SF
NOI
$24.0K $18.61/SF
Area
San Luis Obispo County, CA
Vacancy
6.00%
Lease Rate
$26.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$480,180
Cap Rate 7%
$342,986
Cap Rate 9%
$266,767
Alternative Uses
Best Use
Office B
$343.0K
$300.1K – $400.2K
NOI $24,009 @ 7.0% cap · market cap 3.20%
Second Best
Mixed Use
$210.1K
$183.8K – $245.1K
NOI $14,706 @ 7.0% cap · market cap 1.96%
Theoretical Best
Healthcare Medical
$507.3K
$443.9K – $591.9K
NOI $35,514 @ 7.0% cap · market cap 4.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,564
Businesses Nearby
Explore this area
Business Placement
Demographics for 93446, CA
45,979
Population
19,786
Households
2.3
Avg Household Size
41
Median Age
30%
College-Educated
91%
High-School Grad
428.3 sq mi
ZIP Area
107
Density / Sq Mi
$94,512
Median Household Income
$43,229
Median Earnings
$1,946
Median Rent
$661,400
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Live-work space - Circa-1900 property with central air and adaptable commercial or residential use.
Where is this live-work space located?
The property is located at 1545 Park Street Paso Robles, CA.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: 1,290‑square‑foot Craftsman‑style property built in 1900; Three bedrooms and one bathroom; Central air conditioning
