Freestanding Commercial Condo in
For Sale
$550,000
8840 Morro Road, Atascadero, CA 93422
Commercial condo with long-term lease near Highway 41 West.
Property Size1,400 SF
Price / SF$392.86
Days on Market366
Property Features for 8840 Morro Road
General Information
Standard status
Active
Size
1,400 SF
Property subtype
Commercial/Industrial
Taxes and HOA fees
Annual Taxes
$4,806
Building Details
Year Built
2006
Listing Agency:
Century 21 Masters
(805) 541-1921
Listed By:
Valerie Walla · License #02217940
(805) 853-8318
Source:
Exitrealty
Added: Oct 24, 2025
Changed: Oct 13
Last Checked: Oct 20 at 6:41PM
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
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Investment Insights
Based on property information with market context.
This freestanding commercial condo, constructed in 2005, is located on the westside of Atascadero. The detached unit provides over 1,400 sq. ft. of space, including two ADA-compliant restrooms, a private office, a reception area, storage space, and a break room, as well as a large open space. The property is situated near other professional business offices, Atascadero Lake Park, and the Central Coast Zoo, with convenient access off Highway 41 West. A long-term lease has been renewed for an additional three years with the following pay schedule: $2,275.56 per month from 11/01/25 to 10/31/26; $2,389.34 per month from 11/01/26 to 10/31/27; and $2,508.80 per month from 11/01/27 to 10/31/28.
Key Highlights
- Long‑term lease in place with increasing monthly income through 10/31/28.
- Freestanding commercial condo built in 2006.
- Located on Atascadero’s westside with convenient access off Highway 41 West.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,057
Cap Rate
4.74%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$521,140
$521.1K
Cap Rate 7%
$372,243
$372.2K
Cap Rate 9%
$289,522
$289.5K
Market Conditions
NOI Build-Up for 1,400 SF
Gross rent
$37.0K $26.40/SF
− Vacancy
−$2.2K −$1.58/SF
EGI
$34.7K $24.82/SF
− OpEx
−$8.7K −$6.20/SF
NOI
$26.1K $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 Rate 5%
$521,140
Cap Rate 7%
$372,243
Cap Rate 9%
$289,522
Alternative Uses
Best Use
Office B
$372.2K
$325.7K – $434.3K
NOI $26,057 @ 7.0% cap · market cap 4.74%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$550.6K
$481.8K – $642.4K
NOI $38,542 @ 7.0% cap · market cap 7.01%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Open Analytics
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Office unit - Commercial condo with long-term lease near Highway 41 West.
Where is this office unit located?
The property is located at 8840 Morro Road Atascadero, CA.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Long‑term lease in place with increasing monthly income through 10/31/28.; Freestanding commercial condo built in 2006.; Located on Atascadero’s westside with convenient access off Highway 41 West.
