Greg Malik Real Estate
1145 Niblick Road
Paso Robles, CA 93446

$1,295,000

Description

Turn-Key Church Facility PLUS Development Land Opportunity! This 3.45 AC site has been under the same ownership for over 50 years. And it can now be YOURS! The value proposition of this property is really two-fold. On one hand, you have nearly 5,000 SF of improvements that could be either owner or tenant occupied (by a religious organization, or alternatively a school). On the other hand, you have over 3 acres of prime residential development land (estimated to yield approx. 12 conventional, single family lots). The R-1 zoning of this property does limit the uses of the existing buildings (churches, schools, residential care facilities and a select few others), but we estimate that one could lease out the existing improvements to a qualified user for 5k-7k/month (seller recently received an LOI from a child care facility for 6K/mo). If youre not a user yourself, consider what 60-80K/year in rental income would do for your investment portfolio. PLUS the the added value of 12+/- lots to either sell or build. And don't overlook the ideal location - within just a short walk to K-12 schools, shopping, dining, golf and more. The city of Paso Robles is very interested in working with a developer to streamline the process of subdividing this rare infill location! Ask about an income/value proforma and the potential of owner financing! Want to learn more? Check out the 3-D Virtual Walk-thru of each building plus the 45+ image traditional Virtual Tour! MAY also entertain a lease!

Details

MLS#NS18218956
StyleIndustrial
Sub-TypeResale
StatusActive
Days On Site45

Features

SQ Feet4,970
Story(s)0

Market Activity 93446

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Area Information

StateCA
CountySan Luis Obispo
CityPaso Robles
Zip Code93446
AreaPR Inside City Limit
Listing VS Median (in 93446)
Price:
$1,295,000
low | high
Med:
$455,500
100% of Average
SqFt:
4,970
low | high
Med:
1,364
100% of Average
$ / SqFt:
$261
low | high
Med:
$360
11.845320664299% of Average
On Site:
45
low | high
Med:
180.5
24.930747922438% of Average
Nearby Listings (Within 1/2 mile)
Price: $0 - $0
SqFt: 3,500 - 6,000
Listing Updated: 10/21/2018
MLS Number: NS18218956
Listing Provided By:
Scott Ehrke  of  RE MAX Parkside Real Estate
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