Flex Space with
For Sale
$3,920,000
325 Santa Bella, Paso Robles, CA 93446
Metal-clad commercial building combining insulated construction, natural light, and adaptable office and industrial functionality.
Property Size23,070 SF
Price / SF$169.92
Days on Market10
Property Features for 325 Santa Bella
General Information
Standard status
Active
Size
23,070 SF
Property subtype
Industrial
Building Details
Year Built
1992
Construction
metal clad
Listing Agency:
Martin Indvik-Broker
(805) 440-6861
Listed By:
Marty Indvik · License #961882
Source:
Xome
Added: Aug 13
Changed: Aug 21
Last Checked: Aug 22 at 5:02AM
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 Martin Indvik-Broker
Investment Insights
Based on property information with market context.
This 23,070-square-foot flex space at 325 Santa Bella in Paso Robles features metal-clad construction, insulated walls and ceilings, and skylights across the building. The configuration supports a combination of office and industrial functions, including manufacturing-related operations.
Built in 1992, the property offers a practical commercial building format for users seeking integrated workspace within a single facility. Its interior construction and daylighting features provide functional building characteristics for varied flex-space requirements.
Built in 1992, the property offers a practical commercial building format for users seeking integrated workspace within a single facility. Its interior construction and daylighting features provide functional building characteristics for varied flex-space requirements.
Key Highlights
- 23,070‑square‑foot flex space at 325 Santa Bella, Paso Robles, CA 93446
- Metal‑clad building with insulated walls and ceilings
- Skylights throughout provide natural light
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
$286,085
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
7.30%
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%
$5,721,700
$5.7M
Cap Rate 7%
$4,086,929
$4.1M
Cap Rate 9%
$3,178,722
$3.2M
Market Conditions
NOI Build-Up for 23,070 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
$462.3K $20.04/SF
− Vacancy
−$22.2K −$0.96/SF
EGI
$440.1K $19.08/SF
− OpEx
−$154.0K −$6.68/SF
NOI
$286.1K $12.40/SF
Area
San Luis Obispo County, CA
Vacancy
4.80%
Lease Rate
$20.04 /SF/Yr
Expense Ratio
35.00%
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%
$5,721,700
Cap Rate 7%
$4,086,929
Cap Rate 9%
$3,178,722
Alternative Uses
Best Use
Flex RnD
$4.09M
$3.58M – $4.77M
NOI $286,085 @ 7.0% cap · market cap 7.30%
Second Best
Industrial
$3.35M
$2.93M – $3.90M
NOI $234,241 @ 7.0% cap · market cap 5.98%
Theoretical Best
Healthcare Medical
$9.07M
$7.94M – $10.59M
NOI $635,115 @ 7.0% cap · market cap 16.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
269
Businesses Nearby
Under-served
Demand for This Use
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 Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Metal-clad commercial building combining insulated construction, natural light, and adaptable office and industrial functionality.
Where is this flex space located?
The property is located at 325 Santa Bella Paso Robles, CA.
What is the asking price?
The asking price for this property is $3,920,000.
What are key features of this property?
This property features: 23,070‑square‑foot flex space at 325 Santa Bella, Paso Robles, CA 93446; Metal‑clad building with insulated walls and ceilings; Skylights throughout provide natural light
