Corner Office
For Sale
$3,195,000
1102 Laurel, San Luis Obispo, CA 93401
Functional professional-office property with on-site parking and prominent signage opportunities.
Property Size10,700 SF
Lot Size1.15 Acres
Price / SF$298.60
Days on Market41
Property Features for 1102 Laurel
General Information
Standard status
Active
Size
10,700 SF
Lot size
1.15 Acres
Property subtype
Commercial
Amenities
signage opportunities
Building Details
Building Size
10,700 SF
Year Built
1979
Listing Agency:
(805) 545-9800
Listed By:
Adam Buttery
(805) 545-9800
Source:
Elliman
Added: Jul 21
Changed: Aug 29
Last Checked: Aug 29 at 5:18PM
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 Adam Buttery
Investment Insights
Based on property information with market context.
Located at 1102 Laurel in San Luis Obispo, this corner office building contains 10,700 SF of office space on a 50,000 SF lot. The property includes abundant on-site parking and opportunities for prominent signage.
Built in 1979, the building offers a functional commercial office configuration suited to headquarters, professional office, or multi-tenant use. Its corner position, reported daily traffic counts, and access characteristics support visibility for occupants and visitors. Walk Score is 45, Bike Score is 33, and Transit Score is 22.
Built in 1979, the building offers a functional commercial office configuration suited to headquarters, professional office, or multi-tenant use. Its corner position, reported daily traffic counts, and access characteristics support visibility for occupants and visitors. Walk Score is 45, Bike Score is 33, and Transit Score is 22.
Key Highlights
- 10,700 SF office building on a 50,000 SF lot
- Corner commercial office location at 1102 Laurel
- Abundant on‑site parking
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$199,148
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.23%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,982,960
$4.0M
Cap Rate 7%
$2,844,971
$2.8M
Cap Rate 9%
$2,212,756
$2.2M
Market Conditions
NOI Build-Up for 10,700 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$282.5K $26.40/SF
− Vacancy
−$16.9K −$1.58/SF
EGI
$265.5K $24.82/SF
− OpEx
−$66.4K −$6.20/SF
NOI
$199.1K $18.61/SF
Area
San Luis Obispo County, CA
Vacancy
6.00%
Lease Rate
$26.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,982,960
Cap Rate 7%
$2,844,971
Cap Rate 9%
$2,212,756
Alternative Uses
Best Use
Office B
$2.84M
$2.49M – $3.32M
NOI $199,148 @ 7.0% cap · market cap 6.23%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$4.21M
$3.68M – $4.91M
NOI $294,570 @ 7.0% cap · market cap 9.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
847
Businesses Nearby
Explore this area
Business Placement
Demographics for 93401, CA
29,877
Population
14,363
Households
2.1
Avg Household Size
39
Median Age
57%
College-Educated
96%
High-School Grad
64.2 sq mi
ZIP Area
465
Density / Sq Mi
$95,386
Median Household Income
$47,898
Median Earnings
$1,859
Median Rent
$943,500
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Functional professional-office property with on-site parking and prominent signage opportunities.
Where is this office building located?
The property is located at 1102 Laurel San Luis Obispo, CA.
What is the asking price?
The asking price for this property is $3,195,000.
What are key features of this property?
This property features: 10,700 SF office building on a 50,000 SF lot; Corner commercial office location at 1102 Laurel; Abundant on‑site parking
