Log In/Sign Up
Your email has been sent.
1222-1224 Vine St 19,757 SF Office Building Paso Robles, CA 93446 $5,750,000 ($291.04/SF) 8.34% Cap Rate
Investment Highlights
- Single-tenant net leased investment
- ±19,757 SF headquarters-quality office building
- Additional offsite parking rights included
- Approx. 8.33% current cap rate
- Downtown Paso Robles location
Executive Summary
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.
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.
Property Facts
Sale Type
Investment NNN
Property Type
Office
Building Size
19,757 SF
Building Class
B
Year Built
2006
Price
$5,750,000
Price Per SF
$291.04
Cap Rate
8.34%
NOI
$479,270
Tenancy
Single
Building Height
3 Stories
Typical Floor Size
6,585 SF
Building FAR
0.66
Lot Size
0.69 AC
Opportunity Zone
Yes
Zoning
T-3F
Parking
34 Spaces (1.72 Spaces per 1,000 SF Leased)
Moderately walkable
60/100
Very drivable
80/100
Limited public transit
30/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 009-036-024 | Improvements Assessment | $3,198,913 |
| Land Assessment | $984,280 | Total Assessment | $4,183,193 |
Property Taxes
Parcel Number
009-036-024
Land Assessment
$984,280
Improvements Assessment
$3,198,913
Total Assessment
$4,183,193
1 of 15
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
Presented by
1222-1224 Vine St
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.