2927 Spring StPaso Robles, CA 93446

Property Details for 2927 Spring St

Year built

1947

Construction

TILT-UP CONCRETE

Lot size

0.80 AC

Property size (Sq ft)

4,123 SF

Zone code

T4F

Property type

Turn key restaurants

APN

008-065-021

APU

8065021

Description

This exceptional opportunity presents the chance to acquire the established Su Casa Restaurant, a thriving business located at 2927 Spring St, Paso Robles, CA 93446. The property boasts a prime location in the heart of the Paso Robles Redevelopment Plan, just minutes from Highway 101 and the Paso Robles Wine Trail, ensuring high visibility and consistent traffic. The 4,123 square foot restaurant, situated on a spacious 34,900 square foot lot, underwent a complete renovation in 2018. Features include a modern kitchen, full bar with sink, banquet room, expansive outdoor seating area accommodating a total of 305 patrons (145 inside and 160 outside), a 9'x12' walk-in cooler, and a comprehensive kitchen/hood system. The property also includes 34 private parking spaces, plus ample street parking and two handicap-accessible spaces. The building, constructed in 1947, is classified as Class B and benefits from T-4F zoning, offering flexibility for a variety of uses beyond restaurant operations, such as office space, food production, market, gallery, or professional services. The property is currently operating with a Type 47 alcohol license. The asking price is $2,400,000, representing a 6.00% cap rate. This turnkey operation offers a unique blend of established business and significant real estate potential. The property's location and versatile zoning make it an attractive investment opportunity with strong potential for future growth.

• CAP approach

  CAP return

  Valuation

  6%

  $859,219

  6.5%

  $793,125

  7%

  $736,473

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,379,685

  Geo Method

  $2,897,864

• Alternative Use

  Use

  Valuation

  Residential

  $669,030

  Hospitality

  $612,828

  Educational

  $509,866

  Medical

  $527,401

  Retail

  $793,125

Location Insight

City

Paso Robles

County

San Luis Obispo

State

California

Latitude

35.6448

Longitude

-120.693

CBSA code

42020

CBSA name

SAN LUIS OBISPO-PASO ROBLES, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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