Property profile

618 12th St Paso Robles, CA 93446

OFF-MARKET
Retail space
Property ID
US10-2428638
2,300 SF 0.07 ac lot Built 1958
Individually Owned 5-yr Hold Absentee Owner Free & Clear
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Property summary

AI-generated overview

This 2,300 square foot storefront, located at 618 12th Street in Paso Robles, California, presents a unique investment opportunity. Situated on a 3,150 square foot lot just steps from City Park, this property boasts a highly desirable downtown location. The building, constructed in 1958, features floor-to-ceiling windows showcasing its prime frontage on 12th Street, attracting pedestrian traffic. Inside, you'll find updated flooring, modern track lighting, and an open floor plan ideal for a variety of retail uses. Ample storage is provided by two storage rooms in the rear, along with a convenient break room. A covered carport offers two parking spaces, with potential for expansion by removing existing storage sheds, plus an additional uncovered space. The property is zoned TC1 (Town Center), and a second APN is included in the sale, offering potential for future expansion or redevelopment. Buyer is responsible for verifying all zoning and expansion possibilities with the City of Paso Robles. Currently vacant, this turn-key property is priced at $1,600,000 ($695.65 per square foot) and is ready for immediate occupancy. The property's features include a modern open floor plan, updated flooring, and ample storage. The building's location and zoning provide significant potential for growth and expansion.

Property profile

Verified
Property type Retail space
Use group RETAIL STORES (PERSONAL SERVICES)
Year built 1958
Construction TILT-UP CONCRETE
Total area 2,300 SF
Lot 0.07 ac (3,150 SF)
Zoning code TC1
APN 009-093-055
UPID US10-2428638

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

618 12th St Paso Robles, CA 93446-2203
Paso Robles metro Census 10103 SAN LUIS OBISPO-PASO ROBLES, CA METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$940k
CAP Approach CAP
$575k
Comparable Approach Comparable
$1.14M
Blend (final) Blend
$975k

Owner & transaction history

since 2021
Last sale
$850,000
2 recorded transactions
2021
Price N/A
2020
$850,000

Zoning & alternative use

TC1 · Paso Robles, CA
Top alternative use upside
Auto repair, garage $1.1M +41.0%
Commercial (general) $970,000 +29.8%
Medical building $945,000 +26.7%

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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