End Unit Medical Office
For Sale
$493,500
4555 El Camino Real, Atascadero, CA 93422
End unit medical office condo with reception, three offices, two bathrooms, and ample parking within San Anselmo Center.
Property Size2,053 SF
Price / SF$240.38
Days on Market320
Property Features for 4555 El Camino Real
General Information
Standard status
Active
Size
2,053 SF
Property subtype
Office
Occupancy
100%
Additional Details
Cap Rate
5.45%
Amenities
3
Building Details
Year Built
1987
Listing Agency:
Century 21 Masters
(805) 239-0021
Listed By:
Richard Shannon · License #00619856
Source:
Xome
Added: Sep 24, 2025
Changed: Aug 8
Last Checked: Aug 9 at 5:35AM
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 Century 21 Masters
Investment Insights
Based on property information with market context.
This prime commercial condo is an end unit within the San Anselmo Center and is positioned along one of Atascadero’s main corridors. The current layout includes a large reception area, three offices, two bathrooms, and a large rear room. The property has been very well maintained.
Ample parking and prominent placement in the center support convenient customer and staff access. The condo has maintained 100% occupancy for the last 15 years and features a new 7-year lease with Dignity Health.
The space totals 2,100 square feet and is currently occupied under the existing lease arrangement.
Ample parking and prominent placement in the center support convenient customer and staff access. The condo has maintained 100% occupancy for the last 15 years and features a new 7-year lease with Dignity Health.
The space totals 2,100 square feet and is currently occupied under the existing lease arrangement.
Key Highlights
- End unit medical office condo in San Anselmo Center with 2,100 SF of interior space
- Layout includes a large reception area, three offices, and two bathrooms
- 3 guest facilities included in the property information
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
$38,210
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
7.74%
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%
$764,200
$764.2K
Cap Rate 7%
$545,857
$545.9K
Cap Rate 9%
$424,556
$424.6K
Market Conditions
NOI Build-Up for 2,053 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
$54.2K $26.40/SF
− Vacancy
−$3.3K −$1.58/SF
EGI
$50.9K $24.82/SF
− OpEx
−$12.7K −$6.20/SF
NOI
$38.2K $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%
$764,200
Cap Rate 7%
$545,857
Cap Rate 9%
$424,556
Alternative Uses
Best Use
Healthcare Medical
$807.4K
$706.5K – $942.0K
NOI $56,519 @ 7.0% cap · market cap 11.45%
Second Best
Office B
$545.9K
$477.6K – $636.8K
NOI $38,210 @ 7.0% cap · market cap 7.74%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
413
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
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - End unit medical office condo with reception, three offices, two bathrooms, and ample parking within San Anselmo Center.
Where is this office units located?
The property is located at 4555 El Camino Real Atascadero, CA.
What is the asking price?
The asking price for this property is $493,500.
What are key features of this property?
This property features: End unit medical office condo in San Anselmo Center with 2,100 SF of interior space; Layout includes a large reception area, three offices, and two bathrooms; 3 guest facilities included in the property information
