Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    2040 Prado Road San Luis Obispo, CA 93401

    View on Map
    Claim this Listing
    For Lease
    Contact for pricing

    Commercial Lease - San Luis Obispo, CA

    Property size:
    75,000 SF
    Added:
    Feb 17, 2025
    Days on Market:
    434
    Last Refresh:
    Apr 27 at 4:06 pm

    Property Features for 2040 Prado Road

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Standard status
    Active
    APN
    053153007
    Size
    75,000 SF

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Jason Hart
    Jason Hart

    Listing agent Jason Hart License #01334694

    Listing office Hart Commercial Real Estate 524 East Branch Street, Grover Beach, CA

    Listing date Feb 17, 2025

    MLS# PI25035062 Listing URL

    Copyright © 2026 California Regional Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Prime Commercial Land for Lease

    This is Lot 9 of San Luis Ranch, a planned community in San Luis Obispo, California. The 3.59-acre site (156,380 square feet) offers high visibility from the freeway. San Luis Ranch includes 580 homes, a future 299 units, a 200-room hotel, and an organic farm and marketplace. The Prado Road freeway overpass connects Dalidio Road at San Luis Ranch to Prado Road, providing accessibility. The maximum building size is 75,000 square feet. Zoned Neighborhood Commercial, allowable uses include retail, office, and medical. The site condition is completed offsites and a Blue Top pad. Ownership may be willing to divide the land into 2 or 3 parcels. Ground lease or sale options are available.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    San Luis Obispo
    County
    San Luis Obispo
    State
    California
    Longitude
    -120.654956
    Latitude
    35.258326

    Nearby Similar for Lease

    • $1.70 SF/Yr

      Edna Valley Office Building Lease

      Office suite with three offices and a large bullpen area.
      735 Tank Farm Road, San Luis Obispo, CA 93401
      View Details
    • $2 SF/Yr

      Edna Valley Office Space

      990 SF office suite in San Luis Obispo available for lease.
      735 Tank Farm, San Luis Obispo, CA 93401
      View Details
    • $1.70 SF/Yr

      San Luis Obispo Office Space

      Office suite with 9 spaces, kitchenette, and shared conference room.
      735 Tank Farm Road, San Luis Obispo, CA 93401
      View Details
    • $1.25 SF/Yr

      San Luis Obispo Warehouse and Office

      Warehouse and office space in a sought-after San Luis Obispo location.
      189 Granada Dr, San Luis Obispo, CA 93401
      View Details
    • $1.00 SF/Yr

      Edna Valley Office Suite

      First-level office suite with three offices and a bullpen area.
      735 Tank Farm Rd 155, San Luis Obispo, CA 93401
      View Details
    • $5,000/Mo

      Downtown San Luis Obispo Restaurant Space

      Restaurant space in luxury hotel, downtown San Luis Obispo.
      1119 Garden St, San Luis Obispo, CA 93401
      View Details
    • Contact for pricing

      Downtown San Luis Obispo Office

      Historic Class A office space with parking in downtown.
      962 Ml, San Luis Obispo, CA 93401
      View Details
    • Contact for pricing

      Retail Space Near SLO Ranch

      Retail space in San Luis Obispo near national retailers.
      12330 Los Osos Valley Rd, San Luis Obispo, CA 93405
      View Details
    • $2,250/Mo

      Remodeled Office Suite For Rent

      Remodeled office suite with mountain views in Fremont Medical Center.
      1250 Peach St, San Luis Obispo, CA
      View Details
    • Contact for pricing

      Turn Key Medical Suite

      Medical suite with exam rooms, physician's office, and nurse's station.
      628 California Blvd D-1, San Luis Obispo, CA 93401
      View Details
    • $1,300/Mo

      Downtown San Luis Obispo Office

      First floor office space in downtown San Luis Obispo.
      1326 Chorro St, San Luis Obispo, CA
      View Details
    • Contact for pricing

      Freestanding Building with Parking Spaces

      Freestanding building with efficient layout, parking, and prominent signage.
      3565 S Higuera, San Luis Obispo, CA 93401
      View Details

    FAQs

    What type of property is this?
    Commercial land - Highly visible 3.59-acre commercial land in San Luis Obispo.
    Where is this commercial land located?
    The property is located at 2040 Prado Road San Luis Obispo, CA.
    What are key features of this property?
    This property features: Highly visible site from the freeway in the sought‑after San Luis Obispo area.; Located within San Luis Ranch, a master‑planned community with 580 homes, 299 future units, a 200‑room hotel, and an organic farm/marketplace.; Excellent accessibility due to the Prado Road freeway overpass and other major road connections.
    (805) 481-9010
    We can help!
    Listing Contact
    Jason Hart
    Jason Hart
    Real Estate License ID: 01334694
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!