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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2051 Theatre Dr Paso Robles, CA 93446

    • Super regional malls
    • 12,060 SF
    • 1.41 lot acres
    For Lease
    View listing
    $0.70 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-2160969
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Super regional malls

    Property Details for 2051 Theatre Dr

    Year built
    2005
    Construction
    WOOD
    Lot size
    1.41 lot acres
    Property size
    12,060 SF
    Zone code
    C2
    Property type
    Super regional malls
    APN
    009-841-055
    APU
    9841055

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $715,000
      Current use
      RETAIL STORES
      $1,230,000
      Change: +72% Conversion: Easy
      AUTO REPAIR, GARAGE
      $1,195,000
      Change: +68% Conversion: Difficult
      WAREHOUSE, STORAGE
      $900,000
      Change: +26% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Paso Robles
    County
    San Luis Obispo
    State
    California
    Longitude
    -120.697
    Latitude
    35.5862
    CBSA code
    42020
    CBSA name
    SAN LUIS OBISPO-PASO ROBLES, CA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $53,855
    $1,836,000
    $2,988,600
    $4,824,600
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      0.55 Acres

      2201 Theatre Dr

      REGIONAL SHOPPING CENTER, MALL • 0.55 Acres
      2201 Theatre Dr, Paso Robles, CA 93446-9613
      View Details
    • Value Estimation by Request
      1.49 Acres

      2075 Theatre Dr

      REGIONAL SHOPPING CENTER, MALL • 1.49 Acres
      2075 Theatre Dr, Paso Robles, CA 93446-9629
      View Details
    • Value Estimation
      $4,575,000
      0.59 Acres

      2301 Theatre Dr

      REGIONAL SHOPPING CENTER, MALL • 0.59 Acres
      2301 Theatre Dr, Paso Robles, CA 93446-6621
      View Details
    • Value Estimation by Request
      3.25 Acres

      Theatre Dr

      REGIONAL SHOPPING CENTER, MALL • 3.25 Acres
      Theatre Dr, Paso Robles, CA 93446
      View Details
    • Value Estimation
      $34,845,000
      1.74 Acres

      Theatre Dr

      REGIONAL SHOPPING CENTER, MALL • 1.74 Acres
      Theatre Dr, Paso Robles, CA 93446
      View Details
    • Value Estimation
      $2,915,000
      33,360 SF

      122 Niblick Rd

      REGIONAL SHOPPING CENTER, MALL • 33,360 SF
      122 Niblick Rd, Paso Robles, CA 93446-4842
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      33,360 SF

      Paso Robles Retail Opportunity

      Large retail space in high-traffic shopping center.
      120 Niblick Rd, Paso Robles, CA 93446
      View Details
    • $3,500,000
      4,557 SF

      Paso Robles Winery Estate

      40-acre Paso Robles winery with residence, tasting room, and production.
      2023 Twelve Oaks Dr, Paso Robles, CA 93446
      View Details
    • $4,250,000
      10.55 Acres

      Paso Robles Winery Estate

      10-Acre Vineyard & Winery, $4.25M
      2925 Anderson Rd, Paso Robles, CA 93446
      View Details
    • New
      $1,979,000
      4,123 SF

      Turnkey Restaurant & Bar Opportunity

      High-performing restaurant and bar with real estate and liquor license.
      2927 Spring St, Paso Robles, CA 93446
      View Details
    • $4,999,999
      1,500 SF

      Paso Robles Vineyard Estate

      47-acre vineyard estate with tasting room in Paso Robles.
      3000 Oakdale Rd, Paso Robles, CA 93446
      View Details
    • Contact for pricing
      33,770 SF

      Paso Robles Retail Space - 33,770 SF

      Prime vacant storefront, ideal for owner-user. High barriers to entry, strong regional draw.
      120 Niblick Rd, Paso Robles, CA 93446
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      53,987 SF

      Paso Robles Shopping Center Space

      Retail spaces in high-traffic shopping center with major anchors.
      Niblick Rd, Paso Robles, CA 93446
      View Details
    • Contact for pricing
      935 SF

      Retail Space in Woodland Plaza

      Retail space available in high-traffic Woodland Plaza shopping center.
      169-183 Niblick Rd, Paso Robles, CA 93446
      View Details
    • $0.70 SF/Yr
      5,979 SF

      Paso Robles Retail Space

      Retail space in a 297,991 square foot shopping center.
      2001 Theatre Dr, Paso Robles, CA 93446
      View Details
    • $0.70 SF/Yr
      2,520 SF

      Paso Robles Retail Space Available

      Retail space in a large shopping center on Highway 101.
      2051 Theatre Dr, Paso Robles, CA 93446
      View Details
    • Contact for pricing
      1,440 SF

      Retail Space in Paso Robles

      Retail space available within a shopping center anchored by Lowe’s.
      2421 Golden Hill Rd, Paso Robles, CA 93446
      View Details
    • Contact for pricing
      25,000 SF

      Retail Space in Paso Robles

      Retail space available in a shopping center with anchor tenants.
      2421-2445 Golden Hill Rd, Paso Robles, CA 93446
      View Details

    Property Visit Statistics

    • Visits by month
      3.1k
    • Visitors by month
      1.9k
    • Avg Time on site
      34 min
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    Paso Robles, CA 93446
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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