End-Unit Medical Office
For Sale
$493,500
A-4555 El Camino Real, Atascadero, CA 93422
The suite includes reception, three offices, two bathrooms, and a substantial rear room.
Property Size2,100 SF
Price / SF$235
Days on Market234
Property Features for A-4555 El Camino Real
General Information
Standard status
Active
Size
2,100 SF
Occupancy
100%
Financials
Cap Rate
5.45%
Gross Income
$42,084
Building Details
Owner Occupied
No
Listing Agency:
Century 21 Masters
(805) 466-8000
Listed By:
Richard Shannon · License #00619856
(805) 466-8000
Source:
Exprealty
Added: Jan 8
Changed: Aug 29
Last Checked: Aug 29 at 1:45PM
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 medical office condominium is configured as an end unit within San Anselmo Center. The 2,100-square-foot suite provides a reception area, three offices, two bathrooms, and a large rear room. The property has been maintained over time and offers ample on-site parking.
The office is positioned along El Camino Real in Atascadero, one of the area’s main commercial corridors. Dignity Health is the current tenant under a new 7-year lease. The property has maintained 100% occupancy for the last 15 years, providing an established operating history.
The office is positioned along El Camino Real in Atascadero, one of the area’s main commercial corridors. Dignity Health is the current tenant under a new 7-year lease. The property has maintained 100% occupancy for the last 15 years, providing an established operating history.
Key Highlights
- 2,100 SQFT medical office condominium in San Anselmo Center
- End‑unit placement along El Camino Real in Atascadero
- Reception area, three offices, two bathrooms, and large rear room
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
$39,085
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
7.92%
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%
$781,700
$781.7K
Cap Rate 7%
$558,357
$558.4K
Cap Rate 9%
$434,278
$434.3K
Market Conditions
NOI Build-Up for 2,100 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
$55.4K $26.40/SF
− Vacancy
−$3.3K −$1.58/SF
EGI
$52.1K $24.82/SF
− OpEx
−$13.0K −$6.20/SF
NOI
$39.1K $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%
$781,700
Cap Rate 7%
$558,357
Cap Rate 9%
$434,278
Alternative Uses
Best Use
Healthcare Medical
$825.9K
$722.7K – $963.6K
NOI $57,813 @ 7.0% cap · market cap 11.71%
Second Best
Office B
$558.4K
$488.6K – $651.4K
NOI $39,085 @ 7.0% cap · market cap 7.92%
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
55
Businesses Nearby
Well-served
Demand for This Use
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Medical Office Space - The suite includes reception, three offices, two bathrooms, and a substantial rear room.
Where is this medical office space located?
The property is located at A-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: 2,100 SQFT medical office condominium in San Anselmo Center; End‑unit placement along El Camino Real in Atascadero; Reception area, three offices, two bathrooms, and large rear room
