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    1501 Froom Ranch Way San Luis Obispo, CA 93405
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    1501 Froom Ranch Way, San Luis Obispo, CA 93405

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    • Retail properties & Spaces

    Property Details for 1501 Froom Ranch Way

    Property type
    Retail properties & Spaces
    Property subtype
    Office Spaces

    Description

    Irish Hills Plaza offers a premier 1,043 square foot Class A executive office suite for lease in San Luis Obispo, California. Located at 1501 Froom Ranch Way, 93405, this space is part of a multi-tenant building with a C-R zoning designation. The property is situated in a high-traffic area, just off Highway 101 at Los Osos Valley Road, boasting an impressive 27,626 average annual daily traffic count (AADT). This strategic location within Irish Hills Plaza, recognized as San Luis Obispo's most visited center in 2021 (Creditntell), ensures exceptional visibility and accessibility for businesses. The suite is immediately available and represents a rare opportunity to establish a presence in a thriving commercial hub. Future developments directly connected to the plaza via Froom Ranch Way promise continued growth and enhanced accessibility. The space is suitable for a variety of commercial uses and is divisible to a minimum of 1,043 square feet. This is an exceptional opportunity to secure a prominent location in a dynamic and highly visible commercial center. Contact us today to schedule a viewing and learn more about this outstanding leasing opportunity.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    San Luis Obispo
    County
    San Luis Obispo
    State
    California
    Longitude
    -120.688
    Latitude
    35.2519

    Comparable in this City

    • Value Estimation by Request
      2,744 SF

      1501-1511 Froom Ranch Way

      Office Spaces
      1501-1511 Froom Ranch Way, San Luis Obispo, CA 93405
      View Details
    • Value Estimation
      $3,610,000
      19,034 SF

      862 Meinecke Ave

      CONDOMINIUM OFFICES
      862 Meinecke Ave, San Luis Obispo, CA 93405-1721
      View Details
    • Value Estimation
      $600,000
      2,623 SF

      555 Chorro St Ste A

      CONDOMINIUM OFFICES
      555 Chorro St Ste A, San Luis Obispo, CA 93405-2397
      View Details
    • Value Estimation
      $2,055,000
      11,937 SF

      21 Santa Rosa St, Unit 1B

      CONDOMINIUM OFFICES
      21 Santa Rosa St, San Luis Obispo, CA 93405-1898
      View Details
    • Value Estimation
      $685,000
      1,469 SF

      862 Meinecke Ave

      CONDOMINIUM OFFICES
      862 Meinecke Ave, San Luis Obispo, CA 93405-1721
      View Details
    • Value Estimation
      $830,000
      1,756 SF

      862 Meinecke Ave

      CONDOMINIUM OFFICES
      862 Meinecke Ave, San Luis Obispo, CA 93405-1721
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail/Office Space in Plaza

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      1501 Froom Ranch Way, San Luis Obispo, CA 93405
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      Medical Office Near Sierra Vista

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      Retail Space in Madonna Plaza

      Retail space available in a high-traffic San Luis Obispo power center.
      285 Madonna Rd, San Luis Obispo, CA 93405
      View Details
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    San Luis Obispo, CA 93405
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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