Stand-Alone Restaurant Building with
For Sale
$1,450,000
1902 Creston Road, Paso Robles, CA 93446
Updated stand-alone restaurant space with a dedicated outdoor patio for expanded guest seating.
Property Size3,300 SF
Price / SF$439.39
Days on Market190
Property Features for 1902 Creston Road
General Information
Standard status
Active
Size
3,300 SF
Property subtype
Retail
Additional Details
Business Included
Yes
Liquor License
Yes
Amenities
3
Corner Lot.
Corner.
Listing Agency:
Archer Wilkinson, Inc.
(805) 781-3092
Listed By:
Bill Carpenter · License #00881534
Source:
Xome
Added: Feb 1
Changed: Aug 8
Last Checked: Aug 10 at 2:46AM
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.
This beautifully updated stand-alone commercial building offers a welcoming modern-rustic aesthetic and a versatile interior layout designed for restaurant, café, tasting room, or hospitality concepts. The property includes a dedicated 445 SF patio in addition to the 3,300 square-foot indoor space, supporting guest seating options for both everyday service and special occasions. Visibility is called out as a key attribute, making the building well-suited to storefront and hospitality-driven use.
The property is positioned on a corner pad, supporting easy approach and strong street presence. It is described as being in a highly desirable, high-traffic area within the Central Coast’s culinary and wine country destination in and around Paso Robles, CA.
For operators or investors seeking a turnkey-style hospitality location, the combination of updated interiors, flexible floor plan, and on-site patio space can help accommodate a range of food and beverage formats. Restaurant equipment and a full liquor license are both noted as negotiable, which may streamline the transition for the right qualified buyer or tenant. The space is offered for sale.
The property is positioned on a corner pad, supporting easy approach and strong street presence. It is described as being in a highly desirable, high-traffic area within the Central Coast’s culinary and wine country destination in and around Paso Robles, CA.
For operators or investors seeking a turnkey-style hospitality location, the combination of updated interiors, flexible floor plan, and on-site patio space can help accommodate a range of food and beverage formats. Restaurant equipment and a full liquor license are both noted as negotiable, which may streamline the transition for the right qualified buyer or tenant. The space is offered for sale.
Key Highlights
- Approximately 3,300 SF updated commercial space in a stand‑alone building
- Dedicated 445 SF outdoor patio for guest seating
- Corner lot location with a stand‑alone building on a corner pad
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
Lease Details
Turnkey business
Opportunity
Yes
Liquor license
Location Intelligence
Trade Area within ½ mile
1,033
Businesses Nearby
11k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 79%
Home Improvements & Furnishings 21%
Fastrip
Shops & Services
8,414 visits/mo
0.3 miles
Sherwin-Williams Paint Store
Home Improvements & Furnishings
1,366 visits/mo
0.5 miles
Ferguson
Home Improvements & Furnishings
997 visits/mo
0.5 miles
Caliber Collision
Shops & Services
618 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
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Updated stand-alone restaurant space with a dedicated outdoor patio for expanded guest seating.
Where is this conventional restaurant located?
The property is located at 1902 Creston Road 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: Approximately 3,300 SF updated commercial space in a stand‑alone building; Dedicated 445 SF outdoor patio for guest seating; Corner lot location with a stand‑alone building on a corner pad
