Office Condo with Two Private
For Sale
$139,000
3540 El Camino Real, Atascadero, CA 93422
Office condo offering two private offices, a flexible entrance area, and an in-unit private bathroom.
Property Size600 SF
Price / SF$231.67
Days on Market50
Property Features for 3540 El Camino Real
General Information
Standard status
Active
Size
600 SF
Amenities
private bathroom
newer heating and cooling system
brand-new roof (2022)
Building Details
Year Built
1985
Listing Agency:
Estate Properties
Listed By:
Emory Donelson · License #01709558
(310) 801-4023
Source:
Myfabuloushome
Added: Jul 25
Changed: Sep 8
Last Checked: Sep 11 at 1:05PM
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 Estate Properties
Investment Insights
Based on property information with market context.
This office condo within Colony Business Park includes two private office spaces, plus a spacious entrance area that can support a variety of workplace layouts. The unit also features an in-unit private bathroom. Reported upgrades include a newer heating and cooling system and a brand-new roof installed in 2022.
Located in North Atascadero, the property is within a professional business hub described as being anchored by Kennedy Club Fitness. The listing also notes convenient parking for occupants.
HOA dues are reported at $96 per month. The offering is for sale.
Located in North Atascadero, the property is within a professional business hub described as being anchored by Kennedy Club Fitness. The listing also notes convenient parking for occupants.
HOA dues are reported at $96 per month. The offering is for sale.
Key Highlights
- 600‑square‑foot office condo in Colony Business Park (North Atascadero)
- Features two private office spaces plus a spacious entrance area with flexible use
- Includes an in‑unit private bathroom
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
$11,167
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
8.03%
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%
$223,340
$223.3K
Cap Rate 7%
$159,529
$159.5K
Cap Rate 9%
$124,078
$124.1K
Market Conditions
NOI Build-Up for 600 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
$15.8K $26.40/SF
− Vacancy
−$950 −$1.58/SF
EGI
$14.9K $24.82/SF
− OpEx
−$3.7K −$6.20/SF
NOI
$11.2K $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%
$223,340
Cap Rate 7%
$159,529
Cap Rate 9%
$124,078
Alternative Uses
Best Use
Office B
$159.5K
$139.6K – $186.1K
NOI $11,167 @ 7.0% cap · market cap 8.03%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$236.0K
$206.5K – $275.3K
NOI $16,518 @ 7.0% cap · market cap 11.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
361
Businesses Nearby
Explore this area
Business Placement
Demographics for 93422, CA
33,041
Population
13,702
Households
2.4
Avg Household Size
42
Median Age
31%
College-Educated
93%
High-School Grad
68.8 sq mi
ZIP Area
480
Density / Sq Mi
$89,916
Median Household Income
$46,939
Median Earnings
$1,841
Median Rent
$692,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 units - Office condo offering two private offices, a flexible entrance area, and an in-unit private bathroom.
Where is this office units located?
The property is located at 3540 El Camino Real Atascadero, CA.
What is the asking price?
The asking price for this property is $139,000.
What are key features of this property?
This property features: 600‑square‑foot office condo in Colony Business Park (North Atascadero); Features two private office spaces plus a spacious entrance area with flexible use; Includes an in‑unit private bathroom
