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2525 Riverside AvenuePaso Robles, CA 93446Price: $1,380,000

  • Price: $1,380,000
  • 187 Days on Market
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Federal 30-year interest rate: 6.29% last updated on Sep 22, 2022
* All Figures are estimates. Check with your bank or proposed mortgage company for actual interest rates.
This product uses the FRED® API but is not endorsed or certified by the Federal Reserve Bank of St. Louis.
  • $1,380,000List Price
  • 0.44Acreage
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!
Listed by Scott Ehrke of RE/MAX Success

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Based on information submitted to CRMLS as of September 27, 2022 2:55 AM EDT . All data is deemed reliable but is not guaranteed accurate by the MLS. All information should be independently reviewed and verified for accuracy. IDX information is provided exclusively for consumers’ personal, noncommercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

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