>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>alt=”2432 Spring Street [0]” >alt=”2432 Spring Street [1]” >alt=”2432 Spring Street [2]” >alt=”2432 Spring Street [3]” >alt=”2432 Spring Street [4]” >alt=”2432 Spring Street [5]” >alt=”2432 Spring Street [6]” >alt=”2432 Spring Street [7]” >alt=”2432 Spring Street [8]” >alt=”2432 Spring Street [9]” >alt=”2432 Spring Street [10]” >alt=”2432 Spring Street [11]” >alt=”2432 Spring Street [12]” >alt=”2432 Spring Street [13]” >alt=”2432 Spring Street [14]” >alt=”2432 Spring Street [15]” >alt=”2432 Spring Street [16]” >alt=”2432 Spring Street [17]” >alt=”2432 Spring Street [18]” >alt=”2432 Spring Street [19]” >alt=”2432 Spring Street [20]” >alt=”2432 Spring Street [21]” >alt=”2432 Spring Street [22]” >alt=”2432 Spring Street [23]” >alt=”2432 Spring Street [24]” >alt=”2432 Spring Street [25]” >alt=”2432 Spring Street [26]” >alt=”2432 Spring Street [27]” >alt=”2432 Spring Street [28]” >alt=”2432 Spring Street [29]” >alt=”2432 Spring Street [30]” >alt=”2432 Spring Street [31]” >alt=”2432 Spring Street [32]” >alt=”2432 Spring Street [33]” >alt=”2432 Spring Street [34]” >alt=”2432 Spring Street [35]” >alt=”2432 Spring Street [36]” >alt=”2432 Spring Street [37]” >alt=”2432 Spring Street [38]” >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
Interior
Heating
None
Exterior
Stories Total
1
Water Source
Public
Financial
Utilities
Electricity Available, Natural Gas Available, Sewer Connected
Courtesy of Invest SLO. Disclaimer: All data relating to real estate for sale on this page comes from the Broker Reciprocity (BR) of the California Regional Multiple Listing Service. Detailed information about real estate listings held by brokerage firms other than Outland and Associates Real Estate include the name of the listing broker. Neither the listing company nor Outland and Associates Real Estate shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The Broker providing this data believes it to be correct, but advises interested parties to confirm any item before relying on it in a purchase decision. Copyright 2024. California Regional Multiple Listing Service. All rights reserved.
