2432 Spring Street
Paso Robles, CA 93446
1.12 acres | #PI24203288
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!
Property Details
- Lot DescriptionSixToTenUnitsAcre, RectangularLot
- Stories1
Measurements
- Acres1.12
Construction Details
- Property TypePurchase
Condition
- Year Built1959
Utilities / Energy Details
- Utility FeaturesElectricityAvailable, NaturalGasAvailable, SewerConnected
- Utility SourcePublic
Community and Neighborhood Details
- CountySan Luis Obispo
Financial Details
- Original List Price$1,500,000
Other
- MLS #PI24203288
Location
Legal
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. as of the most recent time synced and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
Last Updated: . Source: CRMLS
Listing Courtesy
Listing Agent: CJ Hegney (#pi02203414)
Listing Office: Invest SLO (#pi3339)
Note: The results shown are estimates only and do not include all factors. Speak with a licensed agent or loan provider for exact details. This tool is sourced from CloseHack.
