Listed by Pacifica Commercial Realty Paso Robles
$5,570,000
1222-1224 Vine Street
Details
Property Type Retail, Office
Sub Type Executive Office
Square Footage 19,757
Occupancy 1000%
Stories 3
Lot Size (SqFt) 30,000
Retail | 19,757 SqFt
Marketing description
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.
Investment highlights
- +/- 19,757 sq ft three-story office headquarters building
- +/- 30,000 sq ft 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 tenant is Pearce Services, LLC, now a part of CBRE following acquisition of Pearce Solutions.
- Current annualized base rent is a+/- $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 off-site 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.
Listing Contacts
Listed by Pacifica Commercial Realty Paso Robles
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