CA > Paso Robles
Paso Robles, CA 93446,2432 Spring ST
Paso Robles, CA 93446,2432 Spring ST
Paso Robles, CA 93446,2432 Spring ST
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The Warburton Team Brokered By EXp

The Warburton Team Brokered By EXp

+1(626) 630-2141
$1,500,000
Est. payment /mo
1.12 Acres Lot
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UPDATED:

Key Details

Property Type Commercial

Sub Type Industrial

Listing Status Active

Purchase Type For Sale

MLS Listing ID PI24203288

HOA Y/N No

Year Built 1959

Lot Size 1.120 Acres

Property Sub-Type Industrial

Property 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!

Location

State CA

County San Luis Obispo

Area Pric - Pr Inside City Limit

Zoning TC-2

Interior

Heating None

Fireplace No

Laundry None

Exterior

Utilities Available Electricity Available, Natural Gas Available, See Remarks

Present Use Commercial

Building

Lot Description 6-10 Units/Acre, Rectangular Lot

Story 1

Water Public

Others

Tax ID 008121013

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Special Listing Condition Standard

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CRMLS – RECore
Listed by Abel Contreras Invest SLO 805-709-7143

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