See all 27 photos
27 photos
REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
$5,750,000
Est. payment /mo
0.69 Acres Lot
UPDATED:
Key Details
Property Type Commercial
Sub Type Office
Listing Status Active
Purchase Type For Sale
MLS Listing ID NS26106788
HOA Y/N No
Year Built 2006
Lot Size 0.689 Acres
Property Sub-Type Office
Property Description
Exceptional downtown Paso Robles investment opportunity fully leased to Pearce Services, LLC, now part of CBRE following CBRE's acquisition of Pearce Services. The property consists of an approximately 19,757 SF three-story office headquarters building situated on an approximately 30,000 SF parcel at 1222–1224 Vine Street.
The property is leased through November 30, 2029 under a net lease structure with scheduled 3% annual rent increases, generating current annualized base rent of approximately $479,270 and an approximate 8.33% cap rate at the $5,750,000 asking price.
Originally developed as the Heritage Oaks Bank Administration Building, the asset features strong institutional-quality improvements, attractive architecture, and functional multi-floor office layouts. Additional offsite parking rights are included through an existing parking sublease agreement.
Excellent downtown Paso Robles location within walking distance to restaurants, hotels, retail, and civic amenities. Strong long-term investment opportunity with corporate tenancy and built-in rental growth.
The property is leased through November 30, 2029 under a net lease structure with scheduled 3% annual rent increases, generating current annualized base rent of approximately $479,270 and an approximate 8.33% cap rate at the $5,750,000 asking price.
Originally developed as the Heritage Oaks Bank Administration Building, the asset features strong institutional-quality improvements, attractive architecture, and functional multi-floor office layouts. Additional offsite parking rights are included through an existing parking sublease agreement.
Excellent downtown Paso Robles location within walking distance to restaurants, hotels, retail, and civic amenities. Strong long-term investment opportunity with corporate tenancy and built-in rental growth.
Location
State CA
County San Luis Obispo
Area Pric - Pr Inside City Limit
Interior
Fireplace No
Laundry None
Building
Lot Description Level
Story 3
Water Public
Others
Tax ID 009036024
Special Listing Condition Standard
Read Less Info
Listed by Paul Shannon Pacifica Commercial Realty 805-440-8031, DRE #01970198
NEARBY SCHOOL & BUSINESS
GET MORE INFORMATION