Back to Search
Property profile & analytics
FOR LEASE
Retail space
1029 Chorro St San Luis Obispo, CA 93401
Individually Owned
8-yr Hold
Free & Clear
Property ID
US09-1364368
For Lease
1 / 2
$5,500/Mo
1029 Chorro St, San Luis Obispo, CA 93401
View Listing →
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1880
Construction
TILT-UP CONCRETE
Total area
4,098 SF
Lot
0.06 ac (2,614 SF)
Zoning code
CD
APN
002-423-022
UPID
US09-1364368
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$650k
CAP Approach
CAP
$1.03M
Comparable Approach
Comparable
$865k
Blend (final)
Blend
$845k
Owner & transaction history
Nf Davis Drier & Elevator · 8 yrs held
Nf Davis Drier & Elevator
since 2018
7 recorded transactions
Zoning & alternative use
CD · San Luis Obispo, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
by Request
ML approach
$650,000
CAP Approach
CAP Return
Estimation
6%
$1,110,000
6.5%
$1,025,000
7%
$950,000
Alternative Use
Use
Estimation
RETAIL STORES
$1,370,000
Current use
Blend value · Realmo final
$845k
Range $761k – $930k · ±10%
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
$206 / 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
$26,524
Tax year 2024
Assessed value
$2,400,000
Assessed 2024
Previous assessed
$2,400,000
+0.0% YoY
Effective rate
1.11%
On assessed value
Assessed land
$1,050,000
Assessed improvement
$1,350,000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
For Lease
Year built
1880
Construction
TILT-UP CONCRETE
Heating
NONE
Bathrooms
2
Total area
4,098 SF
Lot
0.06 ac (2,614 SF)
Zoning code
CD
APN
002-423-022
UPID
US09-1364368
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
RETAIL STORES Current
Est. value
$1.4M
RETAIL STORES Current
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
1880
Construction
TILT-UP CONCRETE
Heating
NONE
Bathrooms
2
Lot
0.06 ac
Current owner
From public records · entity-resolved
Nf Davis Drier & Elevator
Individual
Free & Clear · 8 yrs held
Mailing address
PO BOX 425, FIREBAUGH, CA 93622-0425
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 20, 2018
$3,000,000
Nf Davis Drier & Elevator
Burriss Building LLC
Grant Deed
—
Apr 27, 2018
—
Naman,leslie R Trust
La Paloma & Burriss Buidlings
Quit Claim Deed
related
—
Apr 27, 2018
$900,000
Burriss Building LLC
Naman Leslie R Trust
Grant Deed
—
Apr 16, 2014
—
Naman,leslie R Trust
Naman D J Survivors Trust
Quit Claim Deed
related
—
Jul 31, 2013
—
Naman,dorothy J Survivors Trust
—
Trustees Deed
related
$550,000 · Founders Community Bank
May 27, 2011
—
Naman Dorothy J Trust
Naman Dorothy J Trust
Quit Claim Deed
related
$770,000 · Standard Insurance Co
Jan 15, 2010
—
Naman Dorothy J Trust
—
Trustees Deed
related
$800,000 · Sunrise Mtg & Inv Co 401k Pp
Nov 21, 2008
—
Leslie R Naman
Naman,dorothy J
Affidavit Of Death
related
—
Aug 9, 2001
—
Naman Trust
Naman Trust
Quit Claim Deed
related
—
Sep 30, 1997
$300,000
Naman Trust
Burriss,william E
Grant Deed
$175,000 · Individual
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
