Property Detail

Description

Located in the heart of Paso Robles’ thriving downtown district, 745 Park Street offers investors a chance to own a new fully leased, turn-key property in one of California’s fastest-growing wine country destinations. CAP Rate Now to February 2027 6.33%, February 2027 to February 2028 7.62%. The average CAP Rate for the first two years is 7%. This building was recently renovated from a charming multi-story historic home into a vibrant culinary venue. This beautiful building is backed by a 5-year gross lease at $10,000.00/month with an increase in gross rent to $11,561.00 on February 1, 2027 with 4% annual increases thereafter. The tenant has one 5-year option to renew with 4% annual increases. The property provides stable, predictable cash flow in a walkable, area known for its downtown city park (three blocks away), boutique retail, boutique hotels, acclaimed wineries, tasting rooms, and culinary tourism. Paso Robles is experiencing a strong upward growth trajectory, driven by regional tourism, expanding residential development, downtown revitalization and the new 151 room Ava Hotel by Hilton which is two blocks away from the property. This investment appeals to 1031 exchange buyers, hospitality-focused investors, and long-term hold strategists seeking a foothold in one of California’s most desirable secondary markets. About the tenant Grace & Rose is a farm-to-table restaurant named after the owners' daughters' middle names, the restaurant has a brand new commercial kitchen with a cozy dining room and spaces to enjoy seasonal menus highlighting local farms and wineries. Guests can look forward to delicious dinners, Sunday brunch, al fresco dining, and special events - including winemaker evenings on the wraparound porch under the shade of mature trees.