Remodeled Office with High
For Sale
$849,000
8795 Morro Rd, Atascadero, CA 93422
Newly remodeled commercial office with versatile space and ample parking.
Property Size1,451 SF
Price / SF$585.11
Days on Market142
Property Features for 8795 Morro Rd
General Information
Standard status
Active
Size
1,451 SF
Building Details
Year Built
1950
Listing Agency:
RE/MAX Parkside Real Estate
Listed By:
Maci Umbertis · License #01784326
(805) 610-3595
Source:
Myfabuloushome
Added: Apr 24
Changed: Sep 10
Last Checked: Sep 11 at 3:57PM
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 RE/MAX Parkside Real Estate
Investment Insights
Based on property information with market context.
This newly remodeled commercial property presents an opportunity for professional office use in a high-traffic location. The interior includes four private offices, a dedicated conference area, and a kitchenette. Newer vinyl plank flooring and carpet are installed throughout. Recent upgrades include a new roof on part of the structure, updated electrical and plumbing, and a 200-amp electrical meter. The property is zoned Commercial Professional, and buyers should verify permitted uses with the City of Atascadero. The building retains a shower drain in one bathroom along with a partially finished attached bathroom. Additional features include alley access in the rear, a large usable gated lot with ample parking, and approximately 200 sq ft of attached storage space. The property offers street exposure along a busy main road. The property is somewhat bikeable and car-dependent.
Key Highlights
- Prime commercial location on a busy main road with excellent visibility
- Newly remodeled with four private offices, conference area, and kitchenette
- Large, gated lot with ample parking and alley access
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
$27,006
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
3.18%
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%
$540,120
$540.1K
Cap Rate 7%
$385,800
$385.8K
Cap Rate 9%
$300,067
$300.1K
Market Conditions
NOI Build-Up for 1,451 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
$38.3K $26.40/SF
− Vacancy
−$2.3K −$1.58/SF
EGI
$36.0K $24.82/SF
− OpEx
−$9.0K −$6.20/SF
NOI
$27.0K $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%
$540,120
Cap Rate 7%
$385,800
Cap Rate 9%
$300,067
Alternative Uses
Best Use
Office B
$385.8K
$337.6K – $450.1K
NOI $27,006 @ 7.0% cap · market cap 3.18%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$570.7K
$499.3K – $665.8K
NOI $39,946 @ 7.0% cap · market cap 4.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
411
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
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Market
Vacancy Rate% for Office in West region
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Frequently Asked Questions
What type of property is this?
Office units - Newly remodeled commercial office with versatile space and ample parking.
Where is this office units located?
The property is located at 8795 Morro Rd Atascadero, CA.
What is the asking price?
The asking price for this property is $849,000.
What are key features of this property?
This property features: Prime commercial location on a busy main road with excellent visibility; Newly remodeled with four private offices, conference area, and kitchenette; Large, gated lot with ample parking and alley access
