1222-1224 Vine St - Office/Residential FOR SALE


Paso Robles, CA 93446
$5,750,000 USD
805-440-8031
1222-1224 Vine St, Paso Robles, CA for Sale
$5,750,000 USD
Office/Residential - FOR SALE
1/40
null | 8.34% Cap Rate

1222-1224 Vine St
Paso Robles, CA 93446


HIGHLIGHTS

  • Single-tenant net leased investment
  • Approx. 8.33% current cap rate
  • ±19,757 SF headquarters-quality office building
  • Downtown Paso Robles location
  • Additional offsite parking rights included

OVERVIEW

Pacifica Commercial Realty is pleased to present 1222–1224 Vine Street, a premier downtown Paso Robles single-tenant office investment 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 in the heart of downtown Paso Robles. Originally developed as the Heritage Oaks Bank Administration Building, the asset features institutional-quality improvements, attractive architecture, and functional multi-floor office layouts ideal for long-term corporate occupancy. The property is leased through November 30, 2029 under a net lease structure with scheduled 3% annual rent increases. Current annualized base rent is approximately $479,270, providing an approximate 8.33% cap rate at the $5,750,000 asking price. The lease includes two separate 3-year extension options and additional offsite parking rights through an existing parking sublease agreement associated with the Paso Robles Inn property. Located within Paso Robles’ vibrant downtown corridor, the property offers walkable access to restaurants, hotels, retail, and regional amenities, making it one of the area’s premier office investment opportunities.

FOR SALE DETAILS

PRICE

$5,750,000 USD

PRICE/SF

$291 USD /SF

CAP RATE

8.34%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Office/Residential

TOTAL BUILDING SIZE

-

STORIES

3

BUILDING CLASS

B

YEAR BUILT

2006

SPRINKLERS

-

PARKING SPACES

34

LAND DETAILS

LAND ACRES

0.69 AC

LAND SF

30,056 SF

ZONING

T-3F

APN/PARCEL ID

009-036-024

ASK ABOUT THIS PROPERTY

Paul ShannonPacifica Commercial RealtyMore Info
805-440-8031

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Paul ShannonPacifica Commercial RealtyMore Info
805-440-8031

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.