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Property profile & analytics
OFF-MARKET
Estimated value
$640,000
Land
1111 Main St Morro Bay, CA 93442-2005
Trust Owned
5-yr Hold
Absentee Owner
Free & Clear
Property ID
US09-2895489
Property summary
AI-generated overview
Located on a corner near the entrance to the Embarcadero and Morro Rock, this property offers visibility and views of Morro Rock. The property is approximately 0.45 acres and is located in Morro Bay, CA. The zoning is C1. Potential property uses should be verified with the City.
Property profile
Verified
Property type
Land
Use group
VACANT COMMERCIAL LAND
Lot
0.45 ac (19,602 SF)
Zoning code
C1
APN
066-041-003
UPID
US09-2895489
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
$670k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$640k
Owner & transaction history
Equity Trust Company · 5 yrs held
Equity Trust Company
since 2021
Last sale
$600,000
7 recorded transactions
Zoning & alternative use
C1 · Morro Bay, CA
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 Morro Bay submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Morro Bay 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
$690,000
ML approach
$670,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$640k
Range $576k – $704k · ±10% · vs last sale $600k (May 10 2021)
Last sale anchor
$600k
May 10 2021
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
—
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
$7,037
Tax year 2024
Assessed value
$636,724
Assessed 2024
Previous assessed
$636,724
+0.0% YoY
Effective rate
1.11%
On assessed value
Assessed land
$636,724
Applied tax rate
6.0000
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
Land
Use group
VACANT COMMERCIAL LAND
Status
Off-Market
Heating
NONE
Lot
0.45 ac (19,602 SF)
Zoning code
C1
APN
066-041-003
UPID
US09-2895489
Jurisdiction
SAN LUIS OBISPO
Zoning & alternative use
C1 · Morro Bay, CAZoning C1 · permitted uses
C1 · Morro Bay, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Source
code of ordinances
Building & site characteristics
From public records
Heating
NONE
Lot
0.45 ac
Current owner
From public records · entity-resolved
Equity Trust Company
Trust
Free & Clear · 5 yrs held
Mailing address
559 PISMO ST, SAN LUIS OBISPO, CA 93401-3942
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 10, 2021
$600,000
Equity Trust Company
Phillip A Davis
Grant Deed
—
Jun 29, 2020
—
Davis Family Trust
Wright Aj Living Trust
Quit Claim Deed
—
Jan 5, 2017
—
Wright,a J Living Trust
Wright,a J
Quit Claim Deed
related
—
Dec 15, 2016
$593,000
Wright Family Trust
Hovdal Martha S
Grant Deed
—
Dec 15, 2016
—
Martha S Hovdal
Muellich,lilah M
Affidavit Of Death
related
—
Jul 13, 1989
$75,000
Lenos G Muellich
Morro Motel & Cy
Trustees Deed
—
—
—
Lenos G Muellich
—
Deed Of Trust
related
$75,000 · Abruscato Rita
—
—
Lenos G Muellich
—
Deed Of Trust
related
$75,000 · Abruscato Rita
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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