New search
Property profile & analytics
FOR LEASE
Drive through restaurants
2351 Theatre Dr Paso Robles, CA 93446
Trust Owned
14-yr Hold
Absentee Owner
Free & Clear
Property ID
US09-5053609
For Lease
1 / 19
$530,000
2351 Theatre Dr, Paso Robles, CA 93446
View Listing →
Property profile
Verified
Property type
Drive through restaurants
Use group
DRIVE-THRU RESTAURANT, FAST FOOD
Year built
2006
Construction
WOOD
Total area
2,804 SF
Lot
0.62 ac (27,007 SF)
Zoning code
C2
APN
009-851-020
UPID
US09-5053609
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$530k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$530k
Blend (final)
Blend
$530k
Owner & transaction history
Comerica Bk & Trust · 14 yrs held
Comerica Bk & Trust
since 2012
3 recorded transactions
Zoning & alternative use
C2 · Paso Robles, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Paso Robles submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Paso Robles submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
$530,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$530k
Range $477k – $583k · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$189 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$33,350
Tax year 2024
Assessed value
$3,000,000
Assessed 2024
Previous assessed
$3,000,000
+0.0% YoY
Effective rate
1.11%
On assessed value
Assessed land
$1,600,000
Assessed improvement
$1,400,000
Applied tax rate
2.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Drive through restaurants
Use group
DRIVE-THRU RESTAURANT, FAST FOOD
Status
For Lease
Year built
2006
Construction
WOOD
Heating
NONE
Rooms
2804
Total area
2,804 SF
Lot
0.62 ac (27,007 SF)
Zoning code
C2
APN
009-851-020
UPID
US09-5053609
Jurisdiction
SAN LUIS OBISPO
Zoning & alternative use
C2 · Paso Robles, CA
Zoning C2 · permitted uses
C2 · Paso Robles, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Paso Robles. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
2006
Construction
WOOD
Heating
NONE
Rooms
2804
Lot
0.62 ac
Current owner
From public records · entity-resolved
Comerica Bk & Trust
Trust
Free & Clear · 14 yrs held
Mailing address
2321 ROSECRANS AVE FL, EL SEGUNDO, CA 90245-4903
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2012
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 22, 2012
—
Comerica Bk & Trust
Wells Fargo Bk NA
Quit Claim Deed
—
Jun 8, 2007
—
Dion Ralph D Family Trust
Mbsa LLC
Grant Deed
—
Jul 27, 2005
—
Mbsa LLC
Theater Drive Partners LLC
Grant Deed
$1,696,000 · Ge Capital Franchise Finance Corp
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
