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2525 Riverside Paso Robles, CA

$1,380,000

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Property Description

Calling all investors! Have you been looking for a perfect 1031 exchange opportunity with steady income and limited owner involvement? You’ve found that here at 2525 Riverside Avenue! Occupied by a single corporate tenant [Consolidated Electrical Distributors, Inc, aka CED] since 1993(!), this well located property has provided steady, predictable income for the property owners. Offering consists of two contiguous steel structures (together totaling 6,840 SF) on a nearly 1/2 acre parcel, in the desirable RC (Riverside Corridor) zoning. Neighbors include Holiday Inn Express, Taco Bell, KFC, Paso Robles Event Center, Tractor Supply, Starbucks and numerous other restaurants and hotels all within a 1/4 mile of subject property, demonstrating the outstanding location of this investment opportunity. The original 3,800 SqFt metal structure houses a conditioned retail space with 4 offices and sales counter, as well as warehouse space with a roll-up door and 1/2 bathroom. The 3,000+ SF newer building was conjoined to the original structure in 2005-2006, and includes 20’+ ceilings, multiple retail/office ‘store fronts’ options, and was designed for a partial two story interior build-out. At the time of the addition, both buildings were fire-sprinklered and an ADA compliant bathroom was also added. Fenced yard space, a 600+ SF covered exterior storage structure and a second water meter connection are additional bonuses. Tenant (CED, Inc) currently pays $5,400/month via electronic transfer, plus a semi-annual reimbursement of 50% of the property taxes. Existing lease runs thru August 31, 2023, but tenant retains two exclusive options to extend for as much as 7 1/2 years beyond 8/31/23. Don’t miss out on this fantastic investment opportunity with a future upside of a multi-tenant, multi-address use when the existing lease ends. Investment properties don’t get much easier than this one!

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Property Information

  • Address: 2525 Riverside, Paso Robles, CA 93446. 
  • Price: $1,380,000 
  • MLS #: NS22059220 
  • Year Built: 2006 
  • Listing Courtesy of: RE/MAX Success 
  • City: Paso Robles 
  • Postal Code: 93446 
  • County: San Luis Obispo 

Amenities

  • Cooling: Central Air 
  • Heating: Yes 
  • Heat Source: Forced Air,Natural Gas 
  • Security: Fire Sprinkler System 

Other

  • Description: Calling all investors! Have you been looking for a perfect 1031 exchange opportunity with steady income and limited owner involvement? You've found that here at 2525 Riverside Avenue! Occupied by a single corporate tenant [Consolidated Electrical Distributors, Inc, aka CED] since 1993(!), this well located property has provided steady, predictable income for the property owners. Offering consists of two contiguous steel structures (together totaling 6,840 SF) on a nearly 1/2 acre parcel, in the desirable RC (Riverside Corridor) zoning. Neighbors include Holiday Inn Express, Taco Bell, KFC, Paso Robles Event Center, Tractor Supply, Starbucks and numerous other restaurants and hotels all within a 1/4 mile of subject property, demonstrating the outstanding location of this investment opportunity. The original 3,800 SqFt metal structure houses a conditioned retail space with 4 offices and sales counter, as well as warehouse space with a roll-up door and 1/2 bathroom. The 3,000+ SF newer building was conjoined to the original structure in 2005-2006, and includes 20'+ ceilings, multiple retail/office 'store fronts' options, and was designed for a partial two story interior build-out. At the time of the addition, both buildings were fire-sprinklered and an ADA compliant bathroom was also added. Fenced yard space, a 600+ SF covered exterior storage structure and a second water meter connection are additional bonuses. Tenant (CED, Inc) currently pays $5,400/month via electronic transfer, plus a semi-annual reimbursement of 50% of the property taxes. Existing lease runs thru August 31, 2023, but tenant retains two exclusive options to extend for as much as 7 1/2 years beyond 8/31/23. Don't miss out on this fantastic investment opportunity with a future upside of a multi-tenant, multi-address use when the existing lease ends. Investment properties don't get much easier than this one! 
  • List Date: March 24, 2022 
  • Status: Active 
  • Directions: Riverside Ave, just past Taco Bell, KFC and Holiday Inn Express. Property is at the corner of Riverside and 26th St. 

Other

  • Listing Agent State License: 01012637 
  • Listing Office State License: 02126113 

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Based on information from California Regional Multiple Listing Service, Inc. as of October 1st, 2022 at 13:54:53PM UTC. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.