Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$1,305,000
Office buildings
1118 Palm St San Luis Obispo, CA 93401-3114
Entity Owned
1-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-1480888
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1898
Construction
WOOD
Total area
2,068 SF
Lot
0.28 ac (12,000 SF)
Zoning code
O
APN
002-325-008
UPID
US09-1480888
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
$1.40M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.45M
Blend (final)
Blend
$1.31M
Owner & transaction history
Hsa Palm Street LLC · 1 yrs held
Hsa Palm Street LLC
since 2025
Last sale
$1.2M
7 recorded transactions
Zoning & alternative use
O · San Luis Obispo, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.1M
+16.0%
Auto repair, garage
$945,000
+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
$1,280,000
ML approach
$1,395,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$940,000
Current use
COMMERCIAL (GENERAL)
$1,090,000
Change: +16% · Conversion: Easy
AUTO REPAIR, GARAGE
$945,000
Change: +1% · Conversion: Difficult
MEDICAL BUILDING
$880,000
Change: -6% · Conversion: Easy
Blend value · Realmo final
$1.31M
Range $1.17M – $1.44M · ±10% · vs last sale $1.20M (Jan 28 2025)
Last sale anchor
$1.20M
Jan 28 2025
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
$631 / 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
$13,798
Tax year 2024
Assessed value
$1,248,480
Assessed 2024
Previous assessed
$1,248,480
+0.0% YoY
Effective rate
1.11%
On assessed value
Assessed land
$780,300
Assessed improvement
$468,180
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
OFFICE BUILDING
Status
Off-Market
Year built
1898
Construction
WOOD
Heating
NONE
Rooms
7
Bathrooms
2
Total area
2,068 SF
Lot
0.28 ac (12,000 SF)
Zoning code
O
APN
002-325-008
UPID
US09-1480888
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
$940,000
COMMERCIAL (GENERAL)
Est. value
$1.1M
AUTO REPAIR, GARAGE
Est. value
$945,000
MEDICAL BUILDING
Est. value
$880,000
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
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
1898
Construction
WOOD
Heating
NONE
Rooms
7
Bathrooms
2
Lot
0.28 ac
Current owner
From public records · entity-resolved
Hsa Palm Street LLC
Entity
Mailing address
748 HIGH ST, SAN LUIS OBISPO, CA 93401-5212
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
21 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 28, 2025
$1,200,000
Hsa Palm Street LLC
Transitions Mental Health Associati
Grant Deed
$900,000 · American Riviera Bank
Jun 9, 2022
—
Transitions Mental Health Associati
—
Deed
related
$808,892 · Community West Bank NA
Jan 18, 2022
$1,200,000
Transitions Mental Health Associati
Skg LLC
Grant Deed
$2,000,000 · Community West Bank NA
Jan 29, 2021
$1,099,000
Skg LLC
Samuel N Blakeslee
Grant Deed
—
Mar 23, 2016
—
Samuel N Blakeslee
Samuel N Blakeslee
Intrafamily Transfer
related
$496,000 · Heritage Oaks Bank
Oct 18, 2013
$729,000
Samuel N Blakeslee
1118 Palm Street LLC
Grant Deed
$500,000 · Heritage Oaks Bank
Oct 18, 2013
—
Samuel N Blakeslee
Blakeslee,kara
Quit Claim Deed
related
—
Jul 3, 2012
—
1118 Palm Street LLC
Wilson,john M
Grant Deed
—
Jun 29, 2012
—
John M Wilson
Sesloc Federal Credit Union
Grant Deed
$348,800 · Sesloc FCU
Sep 9, 2010
$1,007,982
Sesloc FCU
All American Foreclosure
Trustees Deed
related
—
Mar 28, 2006
—
Carsel Family Trust
Carsel,richard A & Jan
Quit Claim Deed
related
$960,000 · Sesloc
Mar 3, 2006
—
Carsel Family Trust
Carsel,richard A & Jan
Quit Claim Deed
related
—
Mar 2, 2006
—
Richard A Carsel
Richard A Carsel
Intrafamily Transfer
related
$71,200 · Sesloc FCU
Nov 5, 1999
—
Carsel Trust
Carsel,richard A & Jan
Quit Claim Deed
related
—
Jul 13, 1999
—
Richard A Carsel
Carsel Trust
Quit Claim Deed
related
$396,000 · Heritage Oaks Bank
—
—
Carsel Family Trust
—
Deed Of Trust
related
$100,000 · Nelin Connie G V M Trust
—
—
Samuel H Blakeslee
—
Deed Of Trust
related
$100,000 · Sweasey Family Trust (pt)
—
—
Dewey Shepherd
—
Deed Of Trust
related
$50,000 · Household Finance Corp
—
—
Carsel Trust
—
Deed Of Trust
related
$355,925 · Mission Community Bank NA
—
—
Clara Shepherd
—
Deed Of Trust
related
$85,500 · Aames Funding Corp
—
—
Carsel,tr
—
Deed Of Trust
related
$652,500 · First Bank 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.
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?”
You own 1118 Palm St?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
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.
