Add Listing
    For Sale
    • 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

    8655 Morro Rd Atascadero, CA 93422

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $1,790,000

    Medical/Professional office building with five suites in Atascadero.

    Lot size:
    0.42 Acres

    Property Features for 8655 Morro Rd

    General Information

    Property type
    Commercial
    Standard status
    Active
    Lot size
    0.42 Acres

    Building Details

    Year built
    1981

    We can help!

    Listing Contact
    Darrel Kullman
    Source: Elliman

    Listing Agent: Darrel Kullman

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

    Learn more

    Overview

    Medical/Professional Office Building For Sale

    This medical/professional office building, consisting of approximately 4,800 square feet, is located along the highly visible and heavily traveled Morro Road corridor in Atascadero. The property offers flexibility and long-term value for an owner-user or investor. The building features five separate suites, each with private entrances, making it suitable for medical or professional office use. Interior non-load-bearing walls allow for easy reconfiguration or conversion to single-tenant occupancy. Each suite is individually metered for utilities and served by a private on-site parking lot. The property offers excellent Morro Road frontage with prime signage visibility, high traffic counts, and convenient access to Highway 101. There are no HOA dues, CAM fees, or landlord restrictions. The building will be delivered vacant and is ready for immediate occupancy.
    Location Intelligence

    Current Use by Public Records

    Alexander's Contract Services Water Utility Company Alexander Enterprises Inc Water Utility Company Phillip J Sexton ... Tax Preparation Jones Robert M Law Firm Atascadero Holistic Wellness Gym & Fitness Center

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Atascadero
    County
    San Luis Obispo
    State
    California
    Longitude
    -120.668918
    Latitude
    35.470357

    Nearby Similar for Sale

    • $1,100,000
      1,451 SF

      Remodeled Commercial Property on Main Road

      Versatile commercial property with high visibility and ample parking.
      8795 Morro Rd, Atascadero, CA 93422
      View Details
    • $925,000
      2,764 SF

      Mixed-Use Building in Downtown Atascadero

      Well-maintained mixed-use building with commercial space and residential unit.
      7695 El Camino Real, Atascadero, CA 93422
      View Details
    • $674,000
      1,700 SF

      Turn-Key Restaurant Opportunity in Atascadero

      Fully renovated restaurant with oversized patio in prime location.
      8501 El Camino Real, Atascadero, CA 93422
      View Details
    • $185,000
      810 SF

      Atascadero Commercial Condo For Sale

      Versatile commercial condo in a highly visible, central Atascadero location.
      7350 El Camino Real, Atascadero, CA 93422
      View Details
    • $1,080,000
      2,142 SF

      Renovated Triplex in Atascadero Heart

      Historic triplex with modern upgrades and strong income potential.
      8740 El Camino Real, Atascadero, CA 93422
      View Details
    • $495,000
      1,900 SF

      Atascadero Commercial Property For Sale

      Commercial property with ample parking and desirable features in Atascadero.
      7623 Morro Rd, Atascadero, CA 93422
      View Details
    • $1,775,000
      3,432 SF

      Atascadero Multifamily Investment Opportunity

      Six-unit apartment complex with updated units and strong tenant community.
      7116 Sombrilla Ave, Atascadero, CA 93422
      View Details
    • $899,000

      Cornerstone Center: Prime Office Building

      High-visibility Atascadero office building with flexible layout and strong potential.
      4450 El Camino Real, Atascadero, CA 93422
      View Details
    • $674,000

      Atascadero Restaurant with Oversized Patio

      Fully renovated restaurant with business included and outdoor seating.
      8501 El Camino Real, Atascadero, CA 93422
      View Details
    • $599,000

      Versatile Commercial Building in Atascadero

      Two-unit commercial building on a bustling corner with income potential.
      9520 El Camino Real, Atascadero, CA 93422
      View Details
    • $995,000
      1,583 SF

      Atascadero Residence with Development Potential

      Single-family home with approved plans for apartment units.
      6855 Atascadero Ave, Atascadero, CA 93422
      View Details
    • $550,000

      Freestanding Commercial Condo in Atascadero

      Commercial condo with long-term lease near Highway 41 West.
      8840 Morro Rd, Atascadero, CA 93422
      View Details

    FAQs

    What type of property is this?
    Medical Office Space - Medical/Professional office building with five suites in Atascadero.
    Where is this medical office space located?
    The property is located at 8655 Morro Rd Atascadero, CA.
    What is the asking price?
    The asking price for this property is $1,790,000.
    What are key features of this property?
    This property features: - High-visibility location on Morro Road with excellent frontage, signage, and traffic counts.; - Five separate suites with private entrances, ideal for medical or professional office use.; - Delivered vacant and ready for immediate occupancy.
    (805) 783-1010
    Request Owner's contact information
    8655 Morro Rd Atascadero, CA 93422
    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.
    8655 Morro Rd
    Atascadero, CA 93422
    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
    8655 Morro Rd Atascadero, CA 93422
    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
    Darrel Kullman
    Real Estate License ID: 01257879
    (805) 783-1010 (805) 215-9533
    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!