End-Unit Second-Floor Office
For Sale
$199,000
24-935 Riverside Ave, Paso Robles, CA 93446
Second-floor end-unit office condo with reception, private offices, open work area, kitchenette, and private restroom.
Property Size800 SF
Price / SF$248.75
Days on Market93
Property Features for 24-935 Riverside Ave
General Information
Standard status
Active
Size
800 SF
Additional Details
Highway Access
Yes
Amenities
covered balcony entry with exposed wood-beam ceiling
kitchenette
private restroom with granite vanity
on-site parking
Listing Agency:
Central Coast Sotheby's International Realty
(805) 781-6040
Listed By:
Lisa Lewis · License #01492410
(805) 239-3310
Source:
Exprealty
Added: Jun 12
Changed: Aug 31
Last Checked: Sep 11 at 11:07AM
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 Central Coast Sotheby's International Realty
Investment Insights
Based on property information with market context.
This end-unit, second-floor office condo offers a client-facing layout with a reception area, a built-in pass-through desk, multiple private offices, and a spacious open work area. The unit includes a kitchenette with upper and lower cabinetry and a private restroom with a granite vanity. Finishes feature rich mahogany millwork, custom wainscoting, detailed door casings, and frosted-glass French doors, along with a covered balcony entry with an exposed wood-beam ceiling.
Located at Alliance Square on Riverside Ave in Paso Robles, the property is described as being steps from the new Ava Hotel and within minutes of downtown dining, wine tasting rooms, and retail. The offering notes abundant on-site parking, excellent visibility, and quick freeway access.
The space is positioned for professional use that benefits from an end-unit configuration and a mix of reception, private office, and open work areas.
Located at Alliance Square on Riverside Ave in Paso Robles, the property is described as being steps from the new Ava Hotel and within minutes of downtown dining, wine tasting rooms, and retail. The offering notes abundant on-site parking, excellent visibility, and quick freeway access.
The space is positioned for professional use that benefits from an end-unit configuration and a mix of reception, private office, and open work areas.
Key Highlights
- 800 SF +/- second‑floor end‑unit office condo in Alliance Square
- Client‑facing layout with reception area, built‑in pass‑through desk, and multiple private offices
- Open work area plus kitchenette with full upper and lower cabinetry
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
$14,890
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
7.48%
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%
$297,800
$297.8K
Cap Rate 7%
$212,714
$212.7K
Cap Rate 9%
$165,444
$165.4K
Market Conditions
NOI Build-Up for 800 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
$21.1K $26.40/SF
− Vacancy
−$1.3K −$1.58/SF
EGI
$19.9K $24.82/SF
− OpEx
−$5.0K −$6.20/SF
NOI
$14.9K $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%
$297,800
Cap Rate 7%
$212,714
Cap Rate 9%
$165,444
Alternative Uses
Best Use
Office B
$212.7K
$186.1K – $248.2K
NOI $14,890 @ 7.0% cap · market cap 7.48%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$314.6K
$275.3K – $367.1K
NOI $22,024 @ 7.0% cap · market cap 11.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,859
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - Second-floor end-unit office condo with reception, private offices, open work area, kitchenette, and private restroom.
Where is this office units located?
The property is located at 24-935 Riverside Ave Paso Robles, CA.
What is the asking price?
The asking price for this property is $199,000.
What are key features of this property?
This property features: 800 SF +/- second‑floor end‑unit office condo in Alliance Square; Client‑facing layout with reception area, built‑in pass‑through desk, and multiple private offices; Open work area plus kitchenette with full upper and lower cabinetry
