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Property profile & analytics
OFF-MARKET
Estimated value
$1,880,000
Retail space
721 12th St Paso Robles, CA 93446-2206
Entity Owned
Absentee Owner
Free & Clear
Property ID
US09-1937473
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1962
Construction
TILT-UP CONCRETE
Total area
6,225 SF
Lot
0.16 ac (7,000 SF)
Zoning code
TC1
APN
009-042-012
UPID
US09-1937473
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
$2.07M
CAP Approach
CAP
$1.56M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.88M
Owner & transaction history
12th On Park LLC
12th On Park LLC
since 2026
Last sale
$1.9M
7 recorded transactions
Zoning & alternative use
TC1 · Paso Robles, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$3.1M
+55.1%
Auto repair, garage
$2.8M
+41.0%
Commercial (general)
$2.6M
+29.8%
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
$2,070,000
ML approach
$2,070,000
CAP Approach
CAP Return
Estimation
6%
$1,685,000
6.5%
$1,555,000
7%
$1,445,000
Alternative Use
Use
Estimation
RETAIL STORES
$2,020,000
Current use
RESTAURANT
$3,130,000
Change: +55% · Conversion: Easy
AUTO REPAIR, GARAGE
$2,845,000
Change: +41% · Conversion: Difficult
COMMERCIAL (GENERAL)
$2,620,000
Change: +30% · Conversion: Easy
MEDICAL BUILDING
$2,560,000
Change: +27% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$2,305,000
Change: +14% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$2,005,000
Change: -1% · Conversion: Difficult
OFFICE BUILDING
$1,930,000
Change: -4% · Conversion: Easy
Blend value · Realmo final
$1.88M
Range $1.69M – $2.07M · ±10% · vs last sale $1.85M (Jun 1 2023)
Last sale anchor
$1.85M
Jun 1 2023
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
$302 / 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
$21,826
Tax year 2024
Assessed value
$1,963,234
Assessed 2024
Previous assessed
$1,963,234
+0.0% YoY
Effective rate
1.11%
On assessed value
Assessed land
$742,845
Assessed improvement
$1,220,389
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1962
Construction
TILT-UP CONCRETE
Heating
NONE
Rooms
2
Bathrooms
2
Total area
6,225 SF
Lot
0.16 ac (7,000 SF)
Zoning code
TC1
APN
009-042-012
UPID
US09-1937473
Jurisdiction
SAN LUIS OBISPO
Zoning & alternative use
TC1 · Paso Robles, CA
Zoning TC1 · permitted uses
TC1 · 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.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$2.0M
RESTAURANT
Est. value
$3.1M
AUTO REPAIR, GARAGE
Est. value
$2.8M
COMMERCIAL (GENERAL)
Est. value
$2.6M
MEDICAL BUILDING
Est. value
$2.6M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.3M
INDUSTRIAL (GENERAL)
Est. value
$2.0M
OFFICE BUILDING
Est. value
$1.9M
RETAIL STORES Current
RESTAURANT
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
MEDICAL BUILDING
APARTMENT HOUSE (5+ UNITS)
INDUSTRIAL (GENERAL)
OFFICE BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1962
Construction
TILT-UP CONCRETE
Heating
NONE
Rooms
2
Bathrooms
2
Lot
0.16 ac
Current owner
From public records · entity-resolved
12th On Park LLC
Entity
Free & Clear · 0 yrs held
Mailing address
501 1ST STA, PASO ROBLES, CA 93446-3742
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2026
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 8, 2026
—
12th On Park LLC
The Hastings Family Trust
Grant Deed
—
Jun 9, 2023
—
Katherine L Griffith
Katherine L Griffith
Correction Deed
related
—
Jun 1, 2023
—
Katherine L Griffth
Katherine L Griffth
Intrafamily Transfer
related
—
Mar 22, 2023
—
Thomas Newlin Hastings JR
—
Deed
related
$167,646 · American Riviera Bank
Aug 11, 2020
—
Thomas Newlin Hastings JR.
—
Deed
related
$750,000 · American Riviera Bank
Jul 20, 2020
—
Hastings Family Trust
The Trust Established Und
Grant Deed
related
—
Jul 1, 2020
$1,850,000
Hastings Family Trust
George F Tharaldsen
Grant Deed
—
Apr 3, 2020
—
Tharaldsen,s J Living Trust
Shirley J Tharaldsen
Affidavit Of Death
related
—
Jan 30, 2020
—
Tharaldsen,s J Living Trust
Shirley J Tharaldsen
Affidavit Of Death
related
—
Apr 23, 1998
—
Tharaldsen Trust
Tharaldsen Trust
Quit Claim Deed
related
—
Sep 17, 1996
—
Katherine Griffith
George F Tharaldsen Estate
Grant Deed
related
—
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.
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