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

    956 Foothill Blvd San Luis Obispo, CA 93405

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Former Rite Aid space with excellent visibility and ample parking.

    Property size:
    16,017 SF
    Lot size:
    16,017 SF

    Property Features for 956 Foothill Blvd

    General Information

    Standard status
    Active
    Size
    16,017 SF

    We can help!

    Listing Contact
    Larry Tanji
    Source: Cbre

    Listing Agency: CBRE, Inc Listing Agent: Larry Tanji

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Retail Space in Popular Center

    This 16,017-square-foot retail space, formerly occupied by Rite Aid, is located in a popular neighborhood center. The property offers excellent visibility and ample parking. It benefits from proximity to major thoroughfares, including Highway 1, and features seven points of vehicle access.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Rite Aid Pharmacy Rite Aid Pharmacy Pharmacy Coinhub Bitcoin ATM ... Atm higi Physician Western Union Bank

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    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
    -120.6693073
    Latitude
    35.2946041

    Nearby Similar for Lease

    • $1.70 SF/Yr
      52,467 SF

      Edna Valley Office Building Lease

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

      Edna Valley Office Space

      990 SF office suite in San Luis Obispo available for lease.
      735 Tank Farm Rd, San Luis Obispo, CA 93401
      View Details
    • $1.70 SF/Yr
      52,467 SF

      San Luis Obispo Office Space

      Office suite with 9 spaces, kitchenette, and shared conference room.
      735 Tank Farm Rd, San Luis Obispo, CA 93401
      View Details
    • Contact for pricing

      Creative Office Space in SLO

      Creative office space available in San Luis Obispo's business core.
      4115 S Broad St, San Luis Obispo, CA 93401
      View Details
    • Contact for pricing

      High-Exposure Retail Space Available

      Small retail space in high-traffic San Luis Obispo shopping center.
      11982 Los Osos Valley Rd, San Luis Obispo, CA 93405
      View Details
    • Contact for pricing

      Restaurant Space in Downtown SLO

      Flagship restaurant opportunity in a vibrant, new luxury development.
      581 Higuera St, San Luis Obispo, CA 93401
      View Details
    • Contact for pricing

      San Luis Obispo Office Space

      Office space for lease in San Luis Obispo, California.
      4111 Broad St, San Luis Obispo, CA 93401
      View Details
    • Contact for pricing

      Downtown San Luis Obispo Office Space

      Professional office space in the heart of Downtown San Luis Obispo.
      1026 Chorro St, San Luis Obispo, CA 93401
      View Details
    • Contact for pricing

      Remodeled Office Space with Patio

      Modern office suite in Downtown San Luis Obispo for rent.
      1080 Court St, San Luis Obispo, CA 93401
      View Details
    • Contact for pricing

      Downtown San Luis Obispo Office

      Modern office suite with high visibility and on-site parking.
      369 Marsh St, San Luis Obispo, CA 93401
      View Details
    • Contact for pricing

      Downtown San Luis Obispo Office Space

      Renovated office space in the heart of Downtown San Luis Obispo.
      1026 Chorro St, San Luis Obispo, CA 93401
      View Details

    FAQs

    What type of property is this?
    Drug store - Former Rite Aid space with excellent visibility and ample parking.
    Where is this drug store located?
    The property is located at 956 Foothill Blvd San Luis Obispo, CA.
    What are key features of this property?
    This property features: - Excellent visibility makes this property stand out.; - Ample parking for customers and staff.; - Proximity to major thoroughfares including Highway 1 for easy access.
    (805) 288-4681
    Request Owner's contact information
    956 Foothill Blvd San Luis Obispo, CA 93405
    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.
    956 Foothill Blvd
    San Luis Obispo, CA 93405
    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
    956 Foothill Blvd San Luis Obispo, CA 93405
    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

    We can help!
    Listing Contact
    Larry Tanji
    Real Estate License ID: 1027860
    (805) 288-4681 (805) 288-4700
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!