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Property profile & analytics
OFF-MARKET
Estimated value
$2,035,000
Office buildings
1042 Palm St San Luis Obispo, CA 93401-3255
Entity Owned
29-yr Hold
Absentee Owner
Free & Clear
Property ID
US09-2201245
Property profile
Verified
Property type
Office buildings
Use group
PROFESSIONAL BUILDING
Year built
1994
Construction
WOOD
Total area
6,294 SF
Lot
0.24 ac (10,500 SF)
Zoning code
O
APN
002-323-029
UPID
US09-2201245
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
-
David T Hurst Law Office Law Firm
-
Ortiz Ginger T Law Firm
-
Gillett Law Law Firm Child Welfare Organization
-
Edward Jones - Financial Advisor: Joel M Dunbar Financial Advisor
-
Edward Jones - Financial Advisor: Emery G Luper Financial Advisor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.92M
Comparable Approach
Comparable
$1.94M
Blend (final)
Blend
$2.04M
Owner & transaction history
Palm Street Enterprise · 29 yrs held
Palm Street Enterprise
since 1997
3 recorded transactions
Zoning & alternative use
O · San Luis Obispo, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$3.3M
+16.0%
Restaurant
$3.2M
+10.8%
Auto repair, garage
$2.9M
+0.8%
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
by Request
CAP Approach
CAP Return
Estimation
6%
$2,085,000
6.5%
$1,920,000
7%
$1,785,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$2,855,000
Current use
COMMERCIAL (GENERAL)
$3,310,000
Change: +16% · Conversion: Easy
RESTAURANT
$3,165,000
Change: +11% · Conversion: Moderate
AUTO REPAIR, GARAGE
$2,875,000
Change: +1% · Conversion: Difficult
MEDICAL BUILDING
$2,685,000
Change: -6% · Conversion: Easy
Blend value · Realmo final
$2.04M
Range $1.83M – $2.24M · ±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
$323 / 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
$29,588
Tax year 2024
Assessed value
$2,677,241
Assessed 2024
Previous assessed
$2,677,241
+0.0% YoY
Effective rate
1.11%
On assessed value
Assessed land
$1,115,517
Assessed improvement
$1,561,724
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
Office buildings
Use group
PROFESSIONAL BUILDING
Status
Off-Market
Year built
1994
Construction
WOOD
Heating
NONE
Total area
6,294 SF
Lot
0.24 ac (10,500 SF)
Zoning code
O
APN
002-323-029
UPID
US09-2201245
Jurisdiction
SAN LUIS OBISPO
Zoning & alternative use
O · San Luis Obispo, CA
Zoning O · permitted uses
O · 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
OFFICE BUILDING Current
Est. value
$2.9M
COMMERCIAL (GENERAL)
Est. value
$3.3M
RESTAURANT
Est. value
$3.2M
AUTO REPAIR, GARAGE
Est. value
$2.9M
MEDICAL BUILDING
Est. value
$2.7M
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
RESTAURANT
AUTO REPAIR, GARAGE
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
1994
Construction
WOOD
Heating
NONE
Lot
0.24 ac
Current owner
From public records · entity-resolved
Palm Street Enterprise
Entity
Free & Clear · 29 yrs held
Mailing address
5842 BROOKLINE LN, SAN LUIS OBISPO, CA 93401-8297
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
1997
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 16, 1997
$535,500
Palm Street Enterprise
Sinton,james & Norma
Trustees Deed
—
Jan 16, 1997
—
Palm Street Enterprise
Hogan,thomas R & Karen M
Trustees Deed
related
—
Jan 16, 1997
$120,500
Palm Street Enterprise
Woolpert,mark & Patty
Trustees Deed
related
—
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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