Newmark, as the exclusive advisor, is pleased to offer the opportunity to acquire 803-845 Spring Street—a prime value-add retail or redevelopment opportunity. This ±24,000-square-foot structure, located on a ±2.07-acre full city block in Downtown Paso Robles, presents immense potential for enhancement. With under-market rents and flexibility to renew tenants with short lease terms and termination rights, there’s significant scope for value creation. Additionally, the site offers the potential for adding pad buildings, further enhancing its long-term appeal. Paso Robles market is experiencing a rapid revitalization which has resulted in a variety of new luxury hospitality, boutique shopping and high-end dining establishments. Nearby new proposed and under construction projects include Allegretto Vineyard Resort (named #2 Wine Hotel in the country - USA Today Best Readers Choice August 2024), The Piccolo at Paso Robles Inn, a four-story boutique hotel with 23 rooms, Hotel Cheval (Phase 2), a new two-story, 20-room hotel structure across from the existing Hotel Cheval, and Hotel Ava, a four-story, 155-room hotel with restaurant.