2432 Spring Street, Paso Robles, CA 93446 - Berkshire Hathaway HomeServices California Properties
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2432 Spring Street, Paso Robles, CA 93446

$1,500,000 Approx. USD 0 beds, 0 baths
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Listing Agent


Abel Contreras | abel@investslo.com
Lic#: 02062620
Broker: Courtesy of Invest SLO

Agent Remarks

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!

Listing Details

Property type: Industrial (Commercial)
Status: Active
MLS# PI24203288
Price: $1,500,000
Built in 1959
1.12 acres
Lot size: 1.1200
County: San Luis Obispo
Zoning: TC-2
Lot description: SixToTenUnitsAcre,Rectangular Lot
Heating description: None
MLS area: PRIC - PR Inside City Limit

Last Updated: 1/14/2025

 Days On Market (DOM): 210

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This listing belongs to the PRIC - PR Inside City Limit MLS area

Lat/Long: 35.640144, -120.691785.
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DISCLAIMER: There is NO WARRANTY, expressed or implied, for the accuracy of this information or its applicability to your financial situation. Please consult your financial and/or tax advisor. GET PRE-APPROVED The loan's interest rate will depend upon the specific characteristics of the loan transaction and credit profile up to the time of closing.

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