2927 Spring StPaso Robles, CA 93446

  • Retail properties
  • 4,123 SF
For Sale
$2,400,000 View listing

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
Retail properties
Property subtype
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.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • 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
2927 Spring St, Paso Robles, California

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

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2024
$8,187
$577,355
$159,061
$736,416
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