2500 El Camino Real Atascadero, CA 93422-1916
- Investment properties
- 600 SF
- 1.19 lot acres
Current Use by Public Records
- Bay Laurel Garden Center / Lawn Equipment Rental Service / Garden Center
Property Details for 2500 El Camino Real
- Year built
- 1946
- Construction
- WOOD
- Lot size
- 1.19 lot acres
- Property size
- 600 SF
- Zone code
- CPK
- Property type
- Investment properties
- Property subtype
- Live-work space
- APN
- 049-141-058
- APU
- 49141058
Description
This exceptional Atascadero, CA investment property, located at 2500 El Camino Real, presents a compelling opportunity. The 3,213 square foot property, situated on a 51,836 square foot lot, comprises three single-story buildings and offers 45 parking spaces. Currently operating as a daycare and storefront, leased to Bay Laurel Nursery since January 1, 1999, at 100% occupancy, the property generates a current NOI of $61,870, representing a 4.42% cap rate. A pro-forma NOI of $84,864 projects a 6.06% cap rate. The asking price is $1,400,000. The property is zoned CPK, with potential for rezoning to CR (Commercial Residential), offering significant redevelopment potential. The ground lease is flexible, and rent bumps are negotiable. This high-visibility location on El Camino Real, near Del Rio Marketplace and Barrel Creek Development, benefits from its proximity to Highway 101 and a rapidly growing neighborhood. The existing lease provides immediate income while allowing for future development plans. Buyers are encouraged to conduct their own due diligence with the city regarding rezoning possibilities. This is a rare opportunity to acquire a mixed-use property with strong current income and substantial future upside. The property's APN is 049-141-058.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $1,470,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $1,210,000
- 6.5%
- $1,320,000
- 7%
- $1,385,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $1,380,000
- Geo Method
- $1,500,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $1,135,000
- Retail
- $1,260,000
- Mixed-Use
- $1,110,000
- Hospitality
- $1,315,000
- Educational
- $1,160,000
- Residential Income
- $1,320,000
- Energy
- $1,250,000
- Income-Based Land
- $1,165,000
- Food Service
- $1,415,000
Location Insight
- Map
- Local Demand
- City
- Atascadero
- County
- San Luis Obispo
- State
- California
- Longitude
- -120.696
- Latitude
- 35.5095
- CBSA code
- 42020
- CBSA name
- SAN LUIS OBISPO-PASO ROBLES, CA METROPOLITAN STATISTICAL AREA
