Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Retail Space Near Downtown Title is generated by Realmo AI

    1251 Johnson Avenue, San Luis Obispo, CA 93401

    View on Map
    Claim this Listing
    For Lease
    Contact for pricing

    Retail space with high visibility and ample parking.

    Type:Retail
    Added:
    Nov 22, 2025
    Days on Market:
    194
    Last Refresh:
    May 20 at 12:55 am

    Property Features for 1251 Johnson Avenue

    General Information

    Standard status
    Active
    Property subtype
    Retail

    We can help!

    Listing Contact
    Larry Tanji

    Listing agent Larry Tanji License #1027860

    Listing office CBRE, Inc

    Listing date Nov 22, 2025

    Source Cbre

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

    All listing content including descriptions, pricing, images are the copyrighted material of CBRE, Inc

    HighLights

    • Excellent visibility
    • Ample parking
    • Proximity to Downtown and Cal Poly shoppers
    • Located in a stable and affluent neighborhood
    • Serves downtown residents, Cal Poly students, and professionals
    • 18' clear height

    Overview

    This retail space benefits from excellent visibility and ample parking. It is located in proximity to Downtown and Cal Poly shoppers. The property features a clear height of 18 feet. Situated in a prominent suburban center within one of San Luis Obispo's stable and affluent neighborhoods, the site serves nearby downtown residents, Cal Poly students, and professionals from the city's nearby medical and education facilities.
    Property Profile Location Intelligence

    Current Use by Public Records

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

    Suggested Use

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

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

    Similar Places Nearby

    • Sunglass Hut — 883 Higuera St #C, San Luis Obispo, CA 93401
    • The Network Shopping Center — 778 Higuera St, San Luis Obispo, CA 93401
    • Fwria San Luis Obispo — 1001 Higuera St #1009, San Luis Obispo, CA 93401

    Location Insight

    • Map
    • Local Demand
    City
    San Luis Obispo
    County
    San Luis Obispo
    State
    California
    Longitude
    -120.656
    Latitude
    35.2819

    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 Road, 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, 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 Road, San Luis Obispo, CA 93401
      View Details
    • $1.40 SF/Yr
      8,600 SF

      San Luis Obispo Flex Space

      8,600 SF flex space with office, warehouse, and yard.
      3426 Empresa Dr, San Luis Obispo, CA 93401
      View Details
    • $1.25 SF/Yr
      7,250 SF

      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
    • $2 SF/Yr
      10,708 SF

      Shell Condition Office Space Available

      Office space in shell condition near San Luis Obispo Airport.
      4476 Broad St, San Luis Obispo, CA
      View Details
    • $1.00 SF/Yr
      1,980 SF

      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
      5,000 SF

      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
      2,900 SF

      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
      2,400 SF

      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 SF/Yr
      2,248 SF

      Retail/Office Space in Avila Beach

      Retail or office suite with high pedestrian traffic.
      340 Front Street, San Luis Obispo, CA 93401
      View Details
    • $2,250/Mo
      930 SF

      Remodeled Office Suite For Rent

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

    FAQs

    What type of property is this?
    Shopping center - Retail space with high visibility and ample parking.
    Where is this shopping center located?
    The property is located at 1251 Johnson Avenue San Luis Obispo, CA.
    What are key features of this property?
    This property features: Excellent visibility; Ample parking; Proximity to Downtown and Cal Poly shoppers
    (805) 288-4681
    We can help!
    Listing Contact
    Larry Tanji
    Real Estate License ID: 1027860
    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

    Thank You for Inquiry
    1251 Johnson Avenue, San Luis Obispo, CA, 93401
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!