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Colony Square 6917 El Camino Real 47,555 SF 83% Leased Retail Building Atascadero, CA 93422 For Sale
Investment Highlights
- Significant Lease-Up Opportunity with Small Shop Occupancy
- Theater-Anchored Retail Center with Built-In Traffic Driver
- Strategic Location Along Highway 101 Corridor
- Below-Market Anchor Rent Provides Mark-to-Market Upside
- Long-Term Mixed-Use Redevelopment and Assemblage Potential
- Central North County Retail Hub with Regional Tourism Draw
Executive Summary
Colliers is pleased to present the opportunity to acquire the fee simple interest in Colony Square, a 47,555-square-foot theater-anchored retail center located at 6917 El Camino Real in the heart of Atascadero, California. Strategically positioned along the Highway 101 corridor, the Property benefits from strong regional accessibility and visibility within one of the Central Coast’s primary retail and commuter routes.
Currently 83% leased with nearly 6 years of weighted average lease term, Colony Square presents a compelling value-add opportunity through the lease-up of existing vacancy and the continued stabilization of the theater anchor, or alternatively, a longer-term redevelopment opportunity supported by the site’s central location and surrounding demand drivers. The existing tenancy and layout of the neighborhood retail center provide immediate in-place income with the ability to enhance cash flow through targeted leasing and operational improvements.
Positioned along California’s Central Coast midway between Los Angeles and the San Francisco Bay Area, San Luis Obispo County is anchored by the Highway 101 corridor and serves as a critical link between Northern and Southern California, supported by strong tourism demand, lifestyle appeal, and a stable residential base. The county supports approximately 281,824 residents with a median household income of $95,798, alongside more than $1.38 billion in annual food spending, including over $500 million in dining expenditures and approximately $501 million in entertainment and recreation spending, underscoring strong and diversified consumer demand.
Within this broader market, Atascadero serves as a key North County retail hub, capturing both local demand and regional traffic due to its proximity to major destinations such as Paso Robles wine country, downtown San Luis Obispo, and nearby coastal markets. This central positioning, combined with steady population growth, rising incomes, and consistent year-round visitation, reinforces durable retail fundamentals and long-term demand for convenience and service-oriented uses.
Colony Square offers investors a rare opportunity to acquire a well-located retail asset with near-term value creation potential and long-term development optionality within one of Central California’s most heavily trafficked retail corridors.
Currently 83% leased with nearly 6 years of weighted average lease term, Colony Square presents a compelling value-add opportunity through the lease-up of existing vacancy and the continued stabilization of the theater anchor, or alternatively, a longer-term redevelopment opportunity supported by the site’s central location and surrounding demand drivers. The existing tenancy and layout of the neighborhood retail center provide immediate in-place income with the ability to enhance cash flow through targeted leasing and operational improvements.
Positioned along California’s Central Coast midway between Los Angeles and the San Francisco Bay Area, San Luis Obispo County is anchored by the Highway 101 corridor and serves as a critical link between Northern and Southern California, supported by strong tourism demand, lifestyle appeal, and a stable residential base. The county supports approximately 281,824 residents with a median household income of $95,798, alongside more than $1.38 billion in annual food spending, including over $500 million in dining expenditures and approximately $501 million in entertainment and recreation spending, underscoring strong and diversified consumer demand.
Within this broader market, Atascadero serves as a key North County retail hub, capturing both local demand and regional traffic due to its proximity to major destinations such as Paso Robles wine country, downtown San Luis Obispo, and nearby coastal markets. This central positioning, combined with steady population growth, rising incomes, and consistent year-round visitation, reinforces durable retail fundamentals and long-term demand for convenience and service-oriented uses.
Colony Square offers investors a rare opportunity to acquire a well-located retail asset with near-term value creation potential and long-term development optionality within one of Central California’s most heavily trafficked retail corridors.
Property Facts
Sale Type
Investment
Sale Condition
REO Sale
Property Type
Building Size
47,555 SF
Building Class
B
Year Built
2011
Percent Leased
83%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.79
Lot Size
1.39 AC
Zoning
DC - Downtown Commercial, City of Atascadero
Parking
203 Spaces (4.27 Spaces per 1,000 SF Leased)
Frontage
374’ on El Camino Real
Major Tenants Click Here to Access
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
- Golden China
- Accommodation and Food Services
- -
-
$9.99
-
Lorem Ipsum
-
Jan 0000
- Yogurt Creations
- -
- -
-
$9.99
-
Lorem Ipsum
- -
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
| Golden China | Accommodation and Food Services | - | $9.99 | Lorem Ipsum | Jan 0000 | |
| Yogurt Creations | - | - | $9.99 | Lorem Ipsum | - |
Space Availability
- Space
- Size
- Space Use
- Position
- Available
End-cap retail space formerly occupied by a spa tenant. The space benefits from its high exposure fronting El Camino Real with traffic counts of +/- 31,163 AADT.
In-line retail space formerly occupied by Subway.
In-line retail/office space fronting El Camino Real.
Fully built out cafe/restaurant space previously occupied by SloDoCo. The end-cap space fronting El Camino Real has excellent exposure and signage opportunity as well as a covered patio for outdoor dining. The space is available on August 1, 2025 - Call Broker for details.
Shell retail/office space adjacent to Colony Cinema.
| Space | Size | Space Use | Position | Available |
| A | 1,632 SF | Retail | End Cap | Now |
| C | 1,251 SF | Restaurant | In-Line | Now |
| D | 1,125 SF | Retail | In-Line | Now |
| E | 2,266 SF | Restaurant | End Cap | Now |
| J/K | 1,593 SF | Retail | - | Now |
A
| Size |
| 1,632 SF |
| Space Use |
| Retail |
| Position |
| End Cap |
| Available |
| Now |
C
| Size |
| 1,251 SF |
| Space Use |
| Restaurant |
| Position |
| In-Line |
| Available |
| Now |
D
| Size |
| 1,125 SF |
| Space Use |
| Retail |
| Position |
| In-Line |
| Available |
| Now |
E
| Size |
| 2,266 SF |
| Space Use |
| Restaurant |
| Position |
| End Cap |
| Available |
| Now |
J/K
| Size |
| 1,593 SF |
| Space Use |
| Retail |
| Position |
| - |
| Available |
| Now |
1 of 6
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
A
| Size | 1,632 SF |
| Space Use | Retail |
| Position | End Cap |
| Available | Now |
End-cap retail space formerly occupied by a spa tenant. The space benefits from its high exposure fronting El Camino Real with traffic counts of +/- 31,163 AADT.
1 of 1
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
C
| Size | 1,251 SF |
| Space Use | Restaurant |
| Position | In-Line |
| Available | Now |
In-line retail space formerly occupied by Subway.
D
| Size | 1,125 SF |
| Space Use | Retail |
| Position | In-Line |
| Available | Now |
In-line retail/office space fronting El Camino Real.
E
| Size | 2,266 SF |
| Space Use | Restaurant |
| Position | End Cap |
| Available | Now |
Fully built out cafe/restaurant space previously occupied by SloDoCo. The end-cap space fronting El Camino Real has excellent exposure and signage opportunity as well as a covered patio for outdoor dining. The space is available on August 1, 2025 - Call Broker for details.
1 of 2
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
J/K
| Size | 1,593 SF |
| Space Use | Retail |
| Position | - |
| Available | Now |
Shell retail/office space adjacent to Colony Cinema.
Fairly walkable
50/100
Exceptionally drivable
100/100
Limited public transit
30/100
Somewhat bikeable
20/100
Nearby Major Retailers
Property Taxes
| Parcel Numbers | Improvements Assessment | $7,185,000 | |
| Land Assessment | $1,500,000 | Total Assessment | $8,685,000 |
Property Taxes
Parcel Numbers
Land Assessment
$1,500,000
Improvements Assessment
$7,185,000
Total Assessment
$8,685,000
Contacts
-
Sean Fulp -
Mark Schuessler -
Todd Tydlaska -
Jordan Garcia -
Blake Hammerstein -
Eric Longo -
Colliers
1 of 20
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
Presented by
Colony Square | 6917 El Camino Real
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