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Property profile & analytics
OFF-MARKET
Estimated value
$2,475,000
Turn key restaurants
1023 Chorro St San Luis Obispo, CA 93401-3222
Entity Owned
3-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-2307851
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1940
Construction
TILT-UP CONCRETE
Total area
6,347 SF
Lot
0.08 ac (3,500 SF)
Zoning code
CD
APN
002-423-044
UPID
US09-2307851
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Luna Red Restaurant
-
Fountain Resort
-
Santa's House - Mission Plaza Hotel & Motel Resort
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.94M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.94M
Blend (final)
Blend
$2.48M
Owner & transaction history
Pacific Coastal Properties LLC · 3 yrs held
Pacific Coastal Properties LLC
since 2023
Last sale
$2.3M
7 recorded transactions
Zoning & alternative use
CD · San Luis Obispo, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$4.0M
+25.7%
Commercial (general)
$3.3M
+4.7%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs San Luis Obispo submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs San Luis Obispo submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$2,980,000
ML approach
$2,940,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$3,190,000
Current use
APARTMENT HOUSE (5+ UNITS)
$4,010,000
Change: +26% · Conversion: Difficult
COMMERCIAL (GENERAL)
$3,340,000
Change: +5% · Conversion: Easy
AUTO REPAIR, GARAGE
$2,900,000
Change: -9% · Conversion: Difficult
OFFICE BUILDING
$2,880,000
Change: -10% · Conversion: Moderate
MEDICAL BUILDING
$2,705,000
Change: -15% · Conversion: Difficult
Blend value · Realmo final
$2.48M
Range $2.23M – $2.72M · ±10% · vs last sale $2.26M (Jun 16 2023)
Last sale anchor
$2.26M
Jun 16 2023
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$390 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$30,999
Tax year 2024
Assessed value
$2,805,000
Assessed 2024
Previous assessed
$2,805,000
+0.0% YoY
Effective rate
1.11%
On assessed value
Assessed land
$1,045,500
Assessed improvement
$1,759,500
Applied tax rate
3.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
1940
Construction
TILT-UP CONCRETE
Heating
NONE
Total area
6,347 SF
Lot
0.08 ac (3,500 SF)
Zoning code
CD
APN
002-423-044
UPID
US09-2307851
Jurisdiction
SAN LUIS OBISPO
Zoning & alternative use
CD · San Luis Obispo, CA
Zoning CD · permitted uses
CD · San Luis Obispo, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
San Luis Obispo. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT Current
Est. value
$3.2M
APARTMENT HOUSE (5+ UNITS)
Est. value
$4.0M
COMMERCIAL (GENERAL)
Est. value
$3.3M
AUTO REPAIR, GARAGE
Est. value
$2.9M
OFFICE BUILDING
Est. value
$2.9M
MEDICAL BUILDING
Est. value
$2.7M
RESTAURANT Current
APARTMENT HOUSE (5+ UNITS)
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
OFFICE BUILDING
MEDICAL BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1940
Construction
TILT-UP CONCRETE
Heating
NONE
Lot
0.08 ac
Current owner
From public records · entity-resolved
Pacific Coastal Properties LLC
Entity
Mailing address
9421 N DOS PALOS RD, FIREBAUGH, CA 93622
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 16, 2023
$2,258,000
Pacific Coastal Properties LLC
Once Upon A Time LP
Grant Deed
$1,650,000 · Once Upon A Time LP
May 16, 2023
—
Once Upon A Time LP
—
Deed
related
$1,500,000 · John Couch Living Trust
Dec 29, 2017
—
Once Upon A Time LP
—
Deed
related
—
Dec 30, 2016
$1,700,000
Once Upon A Time LP
Full Sail LLC
Grant Deed
$1,700,000 · Full Sail LLC
Mar 10, 2011
$1,650,000
Full Sail LLC
California & Pacific Oak
Trustees Deed
related
—
Aug 17, 2007
—
Chorro Realty LLC
Mission Grill INC
Quit Claim Deed
related
$1,610,000 · Mission Community Bank NA
Sep 1, 2005
—
Clinton Stanford JR.
Clinton,christine
Quit Claim Deed
$1,008,000 · First Bank Of San Luis Obispo
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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