Freestanding Office
For Sale
$600,000
607 Creston, Paso Robles, CA 93446
Freestanding office building with five private offices, lobby/reception workspace, and restroom, plus an on-site attached parking lot.
Property Size1,336 SF
Price / SF$449.10
Days on Market92
Property Features for 607 Creston
General Information
Standard status
Active
Size
1,336 SF
Property subtype
Office
Amenities
3
Corner Lot.
Corner.
Listing Agency:
Central Coast Sotheby's International Realty
(805) 781-6040
Listed By:
Lisa Lewis · License #01492410
(805) 423-0359
Source:
Xome
Added: Jun 4
Changed: Sep 1
Last Checked: Sep 2 at 1:18PM
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 freestanding office building offers approximately 1,336 square feet of commercial office space and is currently configured with five private offices, a lobby and reception area with workspace, and a restroom. The property includes an attached parking lot on site, supporting convenient day-to-day access.
Located on Creston Road, the building provides visibility just minutes from downtown Paso Robles. Public remarks indicate it sits on one of Paso Robles’ busiest corridors.
Zoned C2, the property is described as allowing a wide range of potential uses, including professional or medical office, retail, and personal services, supporting flexibility for an owner-user or investor.
Located on Creston Road, the building provides visibility just minutes from downtown Paso Robles. Public remarks indicate it sits on one of Paso Robles’ busiest corridors.
Zoned C2, the property is described as allowing a wide range of potential uses, including professional or medical office, retail, and personal services, supporting flexibility for an owner-user or investor.
Key Highlights
- 1,336 +/- SF freestanding office building currently configured for commercial office use
- Features 5 private offices plus a lobby/reception area with work space
- Includes a restroom
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
$24,866
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
4.14%
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%
$497,320
$497.3K
Cap Rate 7%
$355,229
$355.2K
Cap Rate 9%
$276,289
$276.3K
Market Conditions
NOI Build-Up for 1,336 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
$35.3K $26.40/SF
− Vacancy
−$2.1K −$1.58/SF
EGI
$33.2K $24.82/SF
− OpEx
−$8.3K −$6.20/SF
NOI
$24.9K $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%
$497,320
Cap Rate 7%
$355,229
Cap Rate 9%
$276,289
Alternative Uses
Best Use
Office B
$355.2K
$310.8K – $414.4K
NOI $24,866 @ 7.0% cap · market cap 4.14%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$525.4K
$459.8K – $613.0K
NOI $36,780 @ 7.0% cap · market cap 6.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
366
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?
Office building - Freestanding office building with five private offices, lobby/reception workspace, and restroom, plus an on-site attached parking lot.
Where is this office building located?
The property is located at 607 Creston Paso Robles, CA.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: 1,336 +/- SF freestanding office building currently configured for commercial office use; Features 5 private offices plus a lobby/reception area with work space; Includes a restroom
