USACAPaso Robles2432 Spring St
Aerial View with Lot Line | Image 1
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$1,242,090

2432 Spring St, Paso Robles, CA

Real Estate

Sold

$--,---,---
$1,500,000
000
  • Key Facts
  • Description
  • Map

Key Facts

Type Industrial
Levels Commercial Sale
Size -
Garage No
HOA Fees 
Taxes 
Approx. Age 1959
MLS® Number PI24203288

Property Address: 

Average square foot calculated using Size range provided by listing agent.

Description

Unlock the potential of this versatile property in the heart of Paso Robles. This unique offering features a ready-to-renovate industrial steel building at the front of the lot and a large, flat parcel of land at the back, providing substantial development opportunity. With ample parking and a total of 48, 787 sq ft, the TC-2 zoning allows for flexible use, whether maintaining its industrial character or redeveloping it into residential or commercial space. The property is positioned to generate $2.00/sq ft triple net (NNN) rent, supported by strong local comps, and offers an impressive $141, 000+ annual NOI with a 7.05% cap rate. A fully stabilized underwriting plan includes a $500, 000 renovation budget, and there's significant upside potential with the possibility of developing the back lot into a multi-use residential or commercial compound. Zoning permits a variety of building types, including live-work units, rowhouses, and stacked dwellings up to 50 feet in height. This property is perfect for investors seeking immediate rental income with long-term development prospects in one of Paso Robles' most desirable areas. Don’t miss this incredible opportunity to build and create value!Show Description
MLS® NumberPI24203288
Locker
Ensuite LaundryNo
Balcony
Furnished
Laundry LevelNone
Exposure
Exterior
GarageNo
Approx. Age1959
Stories1
Pets
Corp Number

Included in Maintenance Fee

Heat
Hydro
Water
Building Insurance
Condo Taxes
Cable TV
Central Air
Parking Maintenance

Utilities

HeatNone
A/C
Heating Fuel

Extras

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