Airport Aviation Facility With
For Sale
$1,349,000
3150 Propeller Drive Unit B & C, Paso Robles, CA 93446
Commercially zoned aviation facility with offices, warehouse space, aircraft storage, and direct ramp access.
Property Size10,450 SF
Price / SF$129.09
Days on Market232
Property Features for 3150 Propeller Drive Unit B & C
General Information
Standard status
Active
Size
10,450 SF
Total Parking Spaces
10
Property subtype
Commercial Sale / Mixed Use
Zoning
Commercial
Additional Details
Road Access
Yes
Amenities
Executive office
Reception
Shipping and receiving bay
Break room with full kitchen
Two half baths
Building Details
Year Built
1995
Listing Agency:
Country Real Estate, Inc.
(805) 239-9566
Listed By:
Jim Claassen · License #01231209
(805) 239-9566
Source:
Compass
Added: Jan 10
Changed: Aug 30
Last Checked: Aug 30 at 6:36PM
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 Country Real Estate, Inc.
Investment Insights
Based on property information with market context.
This aviation-focused commercial facility combines street-facing office space with warehouse and aircraft-storage improvements. The hangar measures approximately 65± feet wide by 60± feet deep and connects to warehouse space with a roll-up door. Interior improvements include an executive office, reception area, shipping and receiving bay, break room with a full kitchen, and two half baths.
Located at Paso Robles Airport, the property provides direct access to the aircraft ramp. The facility is positioned at 3150 Propeller Drive, Unit B & C, with a 1995 construction date and Commercial zoning. Its configuration brings aviation storage, business offices, and warehouse functions together within one commercial property.
Located at Paso Robles Airport, the property provides direct access to the aircraft ramp. The facility is positioned at 3150 Propeller Drive, Unit B & C, with a 1995 construction date and Commercial zoning. Its configuration brings aviation storage, business offices, and warehouse functions together within one commercial property.
Key Highlights
- Direct aircraft ramp access at Paso Robles Airport
- Hangar measures 65± feet wide by 60± feet deep
- Connected warehouse includes a roll‑up door
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
$118,533
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
8.79%
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%
$2,370,660
$2.4M
Cap Rate 7%
$1,693,329
$1.7M
Cap Rate 9%
$1,317,033
$1.3M
Market Conditions
NOI Build-Up for 10,450 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
$144.2K $13.80/SF
− Vacancy
−$4.8K −$0.46/SF
EGI
$139.5K $13.34/SF
− OpEx
−$20.9K −$2.00/SF
NOI
$118.5K $11.34/SF
Area
San Luis Obispo County, CA
Vacancy
3.30%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
15.00%
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%
$2,370,660
Cap Rate 7%
$1,693,329
Cap Rate 9%
$1,317,033
Alternative Uses
Best Use
Office B
$2.78M
$2.43M – $3.24M
NOI $194,495 @ 7.0% cap · market cap 14.42%
Second Best
Flex RnD
$1.85M
$1.62M – $2.16M
NOI $129,588 @ 7.0% cap · market cap 9.61%
Theoretical Best
Healthcare Medical
$4.11M
$3.60M – $4.79M
NOI $287,688 @ 7.0% cap · market cap 21.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
59
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?
Aviation real estate - Commercially zoned aviation facility with offices, warehouse space, aircraft storage, and direct ramp access.
Where is this aviation real estate located?
The property is located at 3150 Propeller Drive Unit B & C Paso Robles, CA.
What is the asking price?
The asking price for this property is $1,349,000.
What are key features of this property?
This property features: Direct aircraft ramp access at Paso Robles Airport; Hangar measures 65± feet wide by 60± feet deep; Connected warehouse includes a roll‑up door
