Turn-Key Ground-Floor Retail
For Sale
$699,000
B-600 Morro Bay, Morro Bay, CA 93442
Move-in-ready 1,760 sf ground-floor commercial suite in a mixed-use building, built 2010, zoned C-1.
Property Size1,760 SF
Price / SF$397.16
Days on Market53
Property Features for B-600 Morro Bay
General Information
Standard status
Active
Size
1,760 SF
Zoning
C-1
Building Details
Year Built
2010
Listing Agency:
Modern Broker
(805) 773-4130
Listed By:
Michelle Boghosian · License #01807879
(805) 709-8899
Source:
Exprealty
Added: Jul 22
Changed: Aug 20
Last Checked: Sep 11 at 1:54PM
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 Modern Broker
Investment Insights
Based on property information with market context.
Suite B offers a turn-key, fully built-out ground-floor commercial space of approximately 1,760 square feet in a mixed-use building with commercial space on the ground level and residential above. Constructed in 2010, the suite is presented as move-in-ready with contemporary finishes, and the building is described as updated for ADA compliance and designed with energy-efficient features. The previous use was an established pharmacy, and existing infrastructure is noted as being in place.
Located in downtown Morro Bay, the suite is described as being steps from the Embarcadero and Morro Rock, with convenient nearby downtown parking and high foot traffic.
Zoned C-1 (Central Business District Commercial), the space is positioned for a flexible mix of uses, including retail storefronts, personal services, restaurants/cafés, professional offices, and mixed-use development.
Located in downtown Morro Bay, the suite is described as being steps from the Embarcadero and Morro Rock, with convenient nearby downtown parking and high foot traffic.
Zoned C-1 (Central Business District Commercial), the space is positioned for a flexible mix of uses, including retail storefronts, personal services, restaurants/cafés, professional offices, and mixed-use development.
Key Highlights
- Suite B at 600 Morro Bay Boulevard offers 1,760 SF of ground‑floor commercial space
- Move‑in‑ready, fully built out for immediate occupancy; previous use was an established pharmacy
- Built in 2010 in a mixed‑use building with commercial on the ground floor and residential above
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
$28,592
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
4.09%
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%
$571,840
$571.8K
Cap Rate 7%
$408,457
$408.5K
Cap Rate 9%
$317,689
$317.7K
Market Conditions
NOI Build-Up for 1,760 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
$42.2K $24.00/SF
− Vacancy
−$1.4K −$0.79/SF
EGI
$40.8K $23.21/SF
− OpEx
−$12.3K −$6.96/SF
NOI
$28.6K $16.25/SF
Area
San Luis Obispo County, CA
Vacancy
3.30%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
30.00%
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%
$571,840
Cap Rate 7%
$408,457
Cap Rate 9%
$317,689
Alternative Uses
Best Use
Retail
$408.5K
$357.4K – $476.5K
NOI $28,592 @ 7.0% cap · market cap 4.09%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$692.2K
$605.7K – $807.6K
NOI $48,453 @ 7.0% cap · market cap 6.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,280
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 93442, CA
11,390
Population
6,537
Households
1.7
Avg Household Size
54
Median Age
45%
College-Educated
93%
High-School Grad
44.5 sq mi
ZIP Area
256
Density / Sq Mi
$92,163
Median Household Income
$50,651
Median Earnings
$1,815
Median Rent
$870,600
Median Home Value
Market
Vacancy Rate% for Retail 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?
Storefront property - Move-in-ready 1,760 sf ground-floor commercial suite in a mixed-use building, built 2010, zoned C-1.
Where is this storefront property located?
The property is located at B-600 Morro Bay Morro Bay, CA.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Suite B at 600 Morro Bay Boulevard offers 1,760 SF of ground‑floor commercial space; Move‑in‑ready, fully built out for immediate occupancy; previous use was an established pharmacy; Built in 2010 in a mixed‑use building with commercial on the ground floor and residential above
