1803 Spring St, Paso Robles, CA 93446

Building Details

Year Built 2020 More

Buildings 4 More

Tenancy Multi More

Listing Agency: Radius Group Commercial R.E.

Listed By: Gene Deering · License #1450943 Show Phone

Source: Santaynezvalleyhomesforsale

Added: Oct 8 Changed: Nov 8 Last Checked: Nov 8 at 7:04AM

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Investment Insights

Based on property information with market context.

Completed in 2020, this 16,062-square-foot mixed-use property combines four connected buildings with a standalone restaurant in a Victorian home. The other buildings contain public market space with multiple purveyors, plus a second full-service restaurant space. Six short-term rental units occupy upper floors across two buildings: two studios, two one-bedroom suites, and two two-bedroom suites.

The property is located at 1803 Spring St in Paso Robles, within California’s wine-country region.

Key Highlights

• 16,062‑square‑foot mixed‑use property completed in 2020
• Four interconnected buildings include public market space and two full‑service restaurant locations
• Victorian home serves as a standalone restaurant

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$310,077

Cap Rate

4.77%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$6,201,540 $6.2M

Cap Rate 7%

$4,429,671 $4.4M

Cap Rate 9%

$3,445,300 $3.4M

Is this asking price fair?

Market Conditions

NOI Build-Up for 16,062 SF

Gross rent

$578.2K $36.00/SF

− Vacancy

−$14.5K −$0.90/SF

EGI

$563.8K $35.10/SF

− OpEx

−$253.7K −$15.80/SF

NOI

$310.1K $19.31/SF

Area

San Luis Obispo County, CA

Vacancy

2.50%

Lease Rate

$36.00 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$6,201,540

Cap Rate 7%

$4,429,671

Cap Rate 9%

$3,445,300

Alternative Uses

Best Use

Apartment 5plus

$4.43M

$3.88M – $5.17M (±1% cap)

NOI $310,077 @ 7.0% cap · market cap 4.77%

Second Best

Retail

$3.73M

$3.26M – $4.35M (±1% cap)

NOI $260,937 @ 7.0% cap · market cap 4.01%

Theoretical Best

Healthcare Medical

$6.32M

$5.53M – $7.37M (±1% cap)

NOI $442,186 @ 7.0% cap · market cap 6.80%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Conventional restaurants

Suggested Use

Top Pick Locksmith (Bike/Boat/Book/etc) Store Tanning Salon Home Appliance Store Fish Market Tattoo & Piercing Shop

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

1,362

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

Average Price Trend$/SF for Mixed-use properties in San Luis Obispo County, CA

$1,028 Jul

$892 Aug

$875 Sep

$786 Oct

Properties on Market for Mixed-use properties in San Luis Obispo County

Jul

Aug

Sep

Oct

Vacancy Rate% for Multifamily in West region

7% 2022

7.8% 2023

8.6% 2024

8.6% 2025

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Frequently Asked Questions

What type of property is this?

Mixed-use property - A Victorian home anchors a collection of market, restaurant, and short-term lodging spaces completed in 2020.

Where is this mixed-use property located?

The property is located at 1803 Spring St Paso Robles, CA.

What is the asking price?

The asking price for this property is $6,500,000.

What are key features of this property?

This property features: 16,062‑square‑foot mixed‑use property completed in 2020; Four interconnected buildings include public market space and two full‑service restaurant locations; Victorian home serves as a standalone restaurant