2432 Spring StPaso Robles, CA 93446

Property Details for 2432 Spring St

Year built

1959

Lot size

1.12 AC

Property size (Sq ft)

6,528 SF

Property type

Retail properties

Property subtype

Strip malls

APN

008-121-013

APU

8121013

Description

This Paso Robles property presents a unique investment opportunity. The 6,528-square-foot industrial warehouse, built in 1959, sits on a large 48,787-square-foot lot zoned TC-2. The existing building offers immediate rental income potential, projected at $2.00 per square foot triple net (NNN), generating an estimated annual net operating income (NOI) exceeding $141,000 with a 7.05% cap rate. A comprehensive underwriting plan incorporates a $500,000 renovation budget. The substantial, flat rear parcel offers significant upside potential for future development. The TC-2 zoning allows for diverse uses, including residential or commercial projects such as live-work units, rowhouses, or stacked dwellings up to 50 feet in height. The property includes nine units and ample parking. This mixed-use (Industrial) Class C building presents a compelling blend of immediate return and long-term development prospects in a desirable Paso Robles location. The property's address is 2432 Spring St, Paso Robles, CA 93446, with APN 008121013. The asking price is $1,500,000.

• CAP approach

  CAP return

  Valuation

  6%

  $1,360,412

  6.5%

  $1,255,765

  7%

  $1,166,068

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,184,473

  Geo Method

  $4,588,226

• Alternative Use

  Use

  Valuation

  Residential

  $1,059,285

  Hospitality

  $970,299

  Educational

  $807,278

  Medical

  $835,041

  Retail

  $1,255,765

Location Insight

City

Paso Robles

County

San Luis Obispo

State

California

Latitude

35.6401

Longitude

-120.692

CBSA code

42020

CBSA name

SAN LUIS OBISPO-PASO ROBLES, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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