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2432 Spring St

6,528 SF Industrial Building Paso Robles, CA 93446 £1,173,675 (£180/SF)

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Executive Summary

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 Facts

Price	£1,173,675	Lot Size	1.12 AC
Price Per SF	£180	Rentable Building Area	6,528 SF
Sale Type	Investment	Number of Floors	1
Property Type	Industrial	Year Built	1959
Property Subtype	Warehouse Office Industrial Live Work Unit	Parking Ratio	2.29/1,000 SF
Building Class	C	Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.

Price	£1,173,675
Price Per SF	£180
Sale Type	Investment
Property Type	Industrial
Property Subtype	Warehouse Office Industrial Live Work Unit
Building Class	C
Lot Size	1.12 AC
Rentable Building Area	6,528 SF
Number of Floors	1
Year Built	1959
Parking Ratio	2.29/1,000 SF
Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.