Stand-Alone Restaurant Building with
For Sale
$1,450,000
1902 Creston Road 9, Paso Robles, CA 93446
Beautifully updated 3,300 SF restaurant building on a corner pad with a 1,445 SF outdoor patio and 46 parking spaces.
Property Size3,300 SF
Price / SF$439.39
Days on Market61
Property Features for 1902 Creston Road 9
General Information
Standard status
Active
Size
3,300 SF
Total Parking Spaces
46
Property subtype
Commercial/Industrial
Additional Details
Asking Price
$1,450,000
Patio
Yes
Building Details
Buildings
1
Listing Agency:
Archer Wilkinson, Inc.
(805) 234-3537
Listed By:
Bill Carpenter · License #00881534
(805) 234-3537
Source:
Exitrealty
Added: Jun 25
Changed: Aug 23
Last Checked: Aug 22 at 8:39AM
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 Archer Wilkinson, Inc.
Investment Insights
Based on property information with market context.
Beautifully updated stand-alone restaurant building located on a corner pad. The property totals 3,300 SF of indoor space and includes an additional 1,445 SF outdoor patio suitable for dining or guest seating. Restaurant equipment is available, and a full liquor license is negotiable.
The building is set up for food and beverage use and includes on-site parking for 46 vehicles. It is offered for sale or lease on an NNN basis.
This is a practical turnkey direction for a restaurant, café, or tasting-room concept seeking a standalone footprint, indoor-outdoor flow, and dedicated parking for customers.
The building is set up for food and beverage use and includes on-site parking for 46 vehicles. It is offered for sale or lease on an NNN basis.
This is a practical turnkey direction for a restaurant, café, or tasting-room concept seeking a standalone footprint, indoor-outdoor flow, and dedicated parking for customers.
Key Highlights
- 3,300 SF stand‑alone restaurant building on a corner pad
- 1,445 SF outdoor patio for dining or guest seating
- Restaurant equipment available; full liquor license negotiable
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
$47,218
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
3.26%
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%
$944,360
$944.4K
Cap Rate 7%
$674,543
$674.5K
Cap Rate 9%
$524,644
$524.6K
Market Conditions
NOI Build-Up for 3,300 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
$66.1K $20.04/SF
− Vacancy
−$3.2K −$0.96/SF
EGI
$63.0K $19.08/SF
− OpEx
−$15.7K −$4.77/SF
NOI
$47.2K $14.31/SF
Area
San Luis Obispo County, CA
Vacancy
4.80%
Lease Rate
$20.04 /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%
$944,360
Cap Rate 7%
$674,543
Cap Rate 9%
$524,644
Alternative Uses
Best Use
Specialty Retail
$674.5K
$590.2K – $787.0K
NOI $47,218 @ 7.0% cap · market cap 3.26%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$1.30M
$1.14M – $1.51M
NOI $90,849 @ 7.0% cap · market cap 6.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
259
Businesses Nearby
79k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 47%
Groceries 43%
Shops & Services 10%
Food 4 Less
Groceries
33,606 visits/mo
0.5 miles
Starbucks
Dining
19,299 visits/mo
0.4 miles
Jack in the Box
Dining
14,092 visits/mo
0.4 miles
Sinclair
Shops & Services
8,256 visits/mo
0.5 miles
Mr. Pickle's Sandwich Shop
Dining
3,554 visits/mo
0.4 miles
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 Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Beautifully updated 3,300 SF restaurant building on a corner pad with a 1,445 SF outdoor patio and 46 parking spaces.
Where is this conventional restaurant located?
The property is located at 1902 Creston Road 9 Paso Robles, CA.
What is the asking price?
The asking price for this property is $1,450,000.
What are key features of this property?
This property features: 3,300 SF stand‑alone restaurant building on a corner pad; 1,445 SF outdoor patio for dining or guest seating; Restaurant equipment available; full liquor license negotiable
