1144 Black Oak Drive, Paso Robles, CA 93446 US Paso Robles Home

1144 Black Oak Drive, Paso Robles, California

Property Details

Sold

$599,900

Listing Information

  • MLS: 1060290
  • Partial Baths: 0
  • SQ FT: 3088
  • Lot Size: 0.41

Property Description

High visibility commercial property adjacent to Hwy 101! If you're looking for well-located investment with a 7 CAP income return, you've found it here! This 3,100+/- SqFt. building sits on a 4/10ths acre C-3 parcel, with strong visibility from Hwy 101, and incredible accessibility to both Hwy 101 & Hwy 46E. Originally a Burger King, it is now an inviting sit-down Mexican food restaurant, with a lease running thru late 2016 (plus two 5 year options). Thoughtfully designed commercial kitchen includes walk-in refrigeration, food stations and drive-thru window (not currently used), plus plenty of onsite and street parking and large pylon highway signage. Plus, well over 500 hotel rooms are within a 5 minute walk, including the new 'Oaks Hotel' (which just received a city approval for 66 additional rooms + conference center), and Motel 6 (both adjacent). Net operating income exceeds $41,000/year provides for about a 7 CAP investment at the now reduced asking price of $599,900!

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Contact Information

Real Team 360
RE/MAX Parkside Real Estate - BRE #01421338
1213 Vine Street
Paso Robles CA 93446
Office: (805) 238-1555