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    1035 Chorro St San Luis Obispo, CA 93401-3222
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    Property profile & analytics

    1035 Chorro St, San Luis Obispo, CA 93401-3222

    View on Map
    • Retail space
    • 7,056 SF
    • 0.15 lot acres
    Off-Market
    Property ID
    US09-1705506
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $1,805,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Moe's Mediterranean / Restaurant

    Property Details for 1035 Chorro St

    Year built
    1925
    Construction
    TILT-UP CONCRETE
    Lot size
    0.15 lot acres
    Zone code
    CC
    Property type
    Retail space
    APN
    002-423-045
    APU
    2423045

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Apr 27, 2018 $11,473,500 Nf Davis Drier & Elevator INC Naman Leslie R Trust Grant Deed —
    May 20, 2014 — Mary W Naman Leslie Rodney Naman Affidavit Of Death Of Joint Tenant · related $200k · Founders Community Bank
    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 $1.8M · Founders Community Bank
    Apr 10, 2009 — Leslie R Naman Naman,leslie R Quit Claim Deed · related —
    Mar 27, 2009 — Leslie R Naman Naman,mary Quit Claim Deed · related —
    Mar 6, 2009 — Leslie R Naman Naman,dorothy J Affidavit Of Death · related $210k · Patrick D M & D S Family Trust
    Nov 21, 2002 — Naman,tr Naman,tr Quit Claim Deed · related —
    Aug 9, 2001 — Naman Trust Naman Trust Quit Claim Deed · related —
    — — Naman Dorothy J Trust — Deed Of Trust · related $700k · Founders Community Bank
    — — Naman Dorothy J Trust — Deed Of Trust · related $710k · Founders Community Bank

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,910,000
      6.5%
      $1,765,000
      7%
      $1,640,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,489,000
      Market price range: $453k - $1.49M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $2,360,000
      Current use
      INDUSTRIAL (GENERAL)
      $2,270,000
      Change: -4% Conversion: Difficult

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    San Luis Obispo
    County
    San Luis Obispo
    State
    California
    Longitude
    -120.663
    Latitude
    35.2799
    CBSA code
    42020
    CBSA name
    SAN LUIS OBISPO-PASO ROBLES, CA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $54,152
    $1,500,000
    $3,400,000
    $4,900,000
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      3.28 Acres

      2950 Broad St, Unit 102

      RETAIL STORES (PERSONAL SERVICES)
      2950 Broad St, San Luis Obispo, CA 93401-6702
      View Details
    • Value Estimation by Request
      3.43 Acres

      2120 Santa Barbara Ave

      RETAIL STORES (PERSONAL SERVICES)
      2120 Santa Barbara Ave, San Luis Obispo, CA 93401-5222
      View Details
    • Value Estimation by Request
      0.12 Acres

      848 Monterey St

      RETAIL STORES (PERSONAL SERVICES)
      848 Monterey St, San Luis Obispo, CA 93401-3225
      View Details
    • Value Estimation by Request

      975 Airport Dr

      RETAIL STORES (PERSONAL SERVICES)
      975 Airport Dr, San Luis Obispo, CA 93401-8416
      View Details
    • Value Estimation
      $1,150,000
      5,508 SF

      724 Marsh St

      RETAIL STORES (PERSONAL SERVICES)
      724 Marsh St, San Luis Obispo, CA 93401
      View Details
    • Value Estimation
      $14,450,000
      61,720 SF

      999 Monterey St Ste, Unit 355

      RETAIL STORES (PERSONAL SERVICES)
      999 Monterey St Ste, San Luis Obispo, CA 93401-6201
      View Details

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      Pending

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      Established laundromat with growth potential in prime location.
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    Similar Nearby for Lease

    • Contact for pricing
      2,130 SF

      Prime Monterey Street Commercial Space

      Versatile commercial space in a central business district location.
      1413 Monterey St, San Luis Obispo, CA 93401
      View Details
    • Contact for pricing
      2,381 SF

      Retail Space in San Luis Obispo

      Grocery-anchored retail space available for lease in San Luis Obispo.
      3830 Broad St, San Luis Obispo, CA 93401
      View Details
    • Contact for pricing
      670 SF

      Retail Space Available For Rent

      Retail space available for rent, includes fixtures and furniture.
      3594 Broad St, San Luis Obispo, CA 93401
      View Details
    • Contact for pricing
      2,199 SF

      Subterranean Retail Space in SLO

      Retail space in the heart of San Luis Obispo.
      1029 Chorro St, San Luis Obispo, CA 93401
      View Details
    • $2 SF/Yr
      2,248 SF

      Retail/Office Space in Avila Beach

      Retail or office suite with high pedestrian traffic.
      San Luis Dr, San Luis Obispo, CA 93401
      View Details
    • Contact for pricing
      700 SF

      Retail Space in Vibrant Complex

      End cap retail unit with excellent exposure for rent.
      3240 Broad St, San Luis Obispo, CA 93401
      View Details
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    San Luis Obispo, CA 93401-3222
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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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