2432 Spring Street, Paso Robles CA, 93446

Active

2432 Spring Street

Paso Robles CA, 93446

$1,500,000

$229.78 per sqft

Active

6,528 sqft

Commercial

Built in 1959

Listed by Abel Contreras with Invest SLO 925-314-5771

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!

PI24203288

MLSⓇ ID

October 10, 2024

Listed

December 19, 2024

Updated

Map

2432 Spring Street
Paso Robles CA, 93446

Interior Features

Total Stories: 1
Laundry Description: None
Fireplace: No
Cooling: No
Heating: No
Heating Description: None

Exterior/Building Features

Lot Size: 1.12 Acres
Lot Features: 6-10 Units/Acre, Rectangular Lot

Other Property Details

Area Name: PRIC - PR Inside City Limit
Days on Market: 70
Garage: No
View: No
County: San Luis Obispo
Water Source: Public
Pool: No
Zoning: TC-2

Listing Contact: 805-295-2719

Based on information from the California Regional Multiple Listing Service (CRMLS) as of 12/19/2024. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.

Data last updated on 12/19/2024 at 11:57 PM UTC