Strip Mall with Triple Street
For Sale
$3,995,000
915 13th Street, Paso Robles, CA 93446
Strip mall offered for sale with frontage on three streets, including 13th Street.
Property Size10,000 SF
Days on Market81
Property Features for 915 13th Street
General Information
Standard status
Active
Size
10,000 SF
Total Parking Spaces
20
Zoning
TC-1
Amenities
Park
Central Air, Ductless
Central, Ductless
Building Details
Building Size
10,000 SF
Year Built
1922
Buildings
2
Stories
1
Listing Agency:
RE/MAX Parkside Real Estate
Listed By:
Scott Ehrke · License #01012637
(805) 238-1555
Source:
Evrealestate
Added: Jun 19
Changed: Aug 28
Last Checked: Sep 6 at 4:48AM
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 RE/MAX Parkside Real Estate
Investment Insights
Based on property information with market context.
This property is a strip mall/retail center offered for sale. The public remarks indicate frontage on three streets, creating multiple points of visibility and access from the surrounding roadways.
The location is described as being on 13th Street between Pine Street and Railroad, with frontage on all three streets. The property is located in San Luis Obispo County at 915 13th Street in Paso Robles, California.
Details on the internal tenant mix, building size, unit configuration, or any specific improvements are not provided in the supplied information.
The location is described as being on 13th Street between Pine Street and Railroad, with frontage on all three streets. The property is located in San Luis Obispo County at 915 13th Street in Paso Robles, California.
Details on the internal tenant mix, building size, unit configuration, or any specific improvements are not provided in the supplied information.
Key Highlights
- Strip mall for sale with frontage on all three streets, including 13th Street
- Frontage locations include 13th Street between Pine St and Railroad as well as Pine St and Railroad frontage
- Year built: 1922
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
$162,456
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
4.07%
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%
$3,249,120
$3.2M
Cap Rate 7%
$2,320,800
$2.3M
Cap Rate 9%
$1,805,067
$1.8M
Market Conditions
NOI Build-Up for 10,000 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
$240.0K $24.00/SF
− Vacancy
−$7.9K −$0.79/SF
EGI
$232.1K $23.21/SF
− OpEx
−$69.6K −$6.96/SF
NOI
$162.5K $16.25/SF
Area
San Luis Obispo County, CA
Vacancy
3.30%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
30.00%
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%
$3,249,120
Cap Rate 7%
$2,320,800
Cap Rate 9%
$1,805,067
Alternative Uses
Best Use
Retail
$2.32M
$2.03M – $2.71M
NOI $162,456 @ 7.0% cap · market cap 4.07%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$3.93M
$3.44M – $4.59M
NOI $275,299 @ 7.0% cap · market cap 6.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,859
Businesses Nearby
39k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Apparel 35%
Shops & Services 30%
Dining 22%
Home Improvements & Furnishings 12%
Boot Barn
Apparel
13,761 visits/mo
0.3 miles
Bank of America
Shops & Services
11,398 visits/mo
0.4 miles
Cool Hand Luke's
Dining
6,510 visits/mo
0.1 miles
True Value Hardware
Home Improvements & Furnishings
2,528 visits/mo
0.4 miles
Cold Stone Creamery
Dining
2,288 visits/mo
0.2 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?
Strip mall - Strip mall offered for sale with frontage on three streets, including 13th Street.
Where is this strip mall located?
The property is located at 915 13th Street Paso Robles, CA.
What is the asking price?
The asking price for this property is $3,995,000.
What are key features of this property?
This property features: Strip mall for sale with frontage on all three streets, including 13th Street; Frontage locations include 13th Street between Pine St and Railroad as well as Pine St and Railroad frontage; Year built: 1922
