618 12th St Paso Robles, CA 93446-2203
- Retail space
- 2,300 SF
- 0.07 lot acres
Jun 14, 2021
Current Use by Public Records
- Retail space
Property Details for 618 12th St
- Year built
- 1958
- Construction
- TILT-UP CONCRETE
- Lot size
- 0.07 lot acres
- Property size
- 2,300 SF
- Zone code
- TC1
- Property type
- Retail space
- APN
- 009-093-055
- APU
- 9093055
Description
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.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $975,000
- ML approach
- $940,000
-
CAP approach
- CAP Return
- Estimation
- 6%
- $625,000
- 6.5%
- $575,000
- 7%
- $535,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $1,137,000
Market price range: $445k - $1.14M -
Alternative Use
- Use
- Estimation
- RETAIL STORES
- $745,000 Current use
- AUTO REPAIR, GARAGE
- $1,050,000 Change: +41% Conversion: Difficult
- COMMERCIAL (GENERAL)
- $970,000 Change: +30% Conversion: Easy
- MEDICAL BUILDING
- $945,000 Change: +27% Conversion: Difficult
- OFFICE BUILDING
- $710,000 Change: -4% Conversion: Easy
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Location Insight
- Map
- Local Demand
- City
- Paso Robles
- County
- San Luis Obispo
- State
- California
- Longitude
- -120.692
- Latitude
- 35.6264
- CBSA code
- 42020
- CBSA name
- SAN LUIS OBISPO-PASO ROBLES, CA METROPOLITAN STATISTICAL AREA
