Vina Robles Amphitheater

Senior Managing Director Arthur Schwertz, MAI, ASA, was called on to appraise the 3,300 seat Vina Robles Amphitheater when it was under construction as well as several times after its completion. Nestled amidst the picturesque vineyards of Paso Robles, California, the Vina Robles Amphitheater stands as a beacon of cultural significance and architectural marvel. Beyond its artistic and aesthetic allure, this iconic venue holds considerable market value, reflecting both its tangible and intangible assets. In completing this appraisal, we had to explore several factors contributing to the market value of this amphitheater.

At its core, the market value of the Vina Robles Amphitheater is shaped by a tapestry of tangible assets, each contributing to its financial worth:

1. Location: Situated within the heart of Paso Robles wine country, the amphitheater benefits from its prime location amidst rolling vineyards and scenic vistas. This proximity to a thriving tourist destination enhances its desirability and market appeal. We performed an in-depth study of the market demographics as well as traffic patterns to determine the impact of the location on the theater’s operations.
2. Design: The amphitheater’s architectural design seamlessly integrates with its natural surroundings, creating a visually stunning and functional space. Its state-of-the-art facilities, including seating arrangements, sound systems, and amenities, add tangible value to the property. We compared these design features to other amphitheaters in the California market to determine the viability of the subject theater.
3. Revenue Streams: From ticket sales and concessions to merchandise and venue rentals, the Vina Robles Amphitheater boasts diverse revenue streams that contribute to its overall market value. Its ability to attract top-tier performers and host a wide array of events further solidifies its financial viability. We performed an in-depth study of the theater’s operations to determine those that were performing at or above the market standards and which areas were subpar. This analysis assisted us in determining the going-concern market value of the theater.