Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1140 Allesandro St Morro Bay, CA 93442
    Back to Search
    Property profile & analytics

    1140 Allesandro St, Morro Bay, CA 93442

    View on Map
    • Warehouses
    • 1,200 SF
    • 0.25 lot acres
    Off-Market
    Last Sale Feb 24, 2026
    $595,000
    Property ID
    US09-2134649
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Warehouses

    Property Details for 1140 Allesandro St

    Year built
    1969
    Construction
    TILT-UP CONCRETE
    Lot size
    0.25 lot acres
    Zone code
    23
    Property type
    Warehouses
    APN
    066-095-004
    APU
    66095004

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Feb 24, 2026 $595,000 Lockwood Commercial Realty INC Gerald Dean Luhr Grant Deed —
    Jun 24, 2025 — Gerald Dean Luhr Gerald Luhr Deed · related —
    Apr 25, 2025 — Gerald Luhr — Deed · related $100k · Leroy A Kleim
    Aug 24, 1992 $120,000 Gerald Luhr Costa Trust Grant Deed $100k · Seller

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Morro Bay
    County
    San Luis Obispo
    State
    California
    Longitude
    -120.834
    Latitude
    35.3648
    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
    $2,254
    $186,946
    $16,976
    $203,922
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $705,000
      4,135 SF

      960 Quintana Rd

      MINI-WAREHOUSE, STORAGE
      960 Quintana Rd, Morro Bay, CA 93442-2357
      View Details
    • Value Estimation by Request
      5,000 SF

      68th St

      WAREHOUSE, STORAGE
      68th St, Morro Bay, CA 93442
      View Details
    • Value Estimation by Request
      1,220 SF

      1075 Allesandro St

      MINI-WAREHOUSE, STORAGE
      1075 Allesandro St, Morro Bay, CA 93442-2406
      View Details
    • Value Estimation
      $530,000
      2,940 SF

      2170 Main St

      WAREHOUSE, STORAGE
      2170 Main St, Morro Bay, CA 93442-1634
      View Details
    • Value Estimation
      $765,000
      6,526 SF

      1610 Preston Ln

      MINI-WAREHOUSE, STORAGE
      1610 Preston Ln, Morro Bay, CA 93442-1850
      View Details
    • Value Estimation
      $2,230,000
      16,891 SF

      1020 Quintana Rd

      MINI-WAREHOUSE, STORAGE
      1020 Quintana Rd, Morro Bay, CA 93442-2445
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      2,322 SF

      Established Commercial Property For Sale

      2,322 SF commercial property with consistent rental income.
      1150 Main St, Morro Bay, CA 93442
      View Details
    • $395,000
      6,000.00 Acres

      Morro Bay Land with Views

      6,000 sq ft lot near beach with ocean views.
      2900 Alder Ave, Morro Bay, CA 93442
      View Details
    • $499,000
      20,038.00 Acres

      Morro Bay Land with Views

      Rare nearly half acre lot with incredible views in Morro Bay.
      670 Sequoia Ct, Morro Bay, CA 93442
      View Details
    • $3,900,000
      162,479.00 Acres

      Morro Bay Oceanfront Commercial Land

      Prime 3.73-acre oceanfront land zoned for commercial visitor use.
      Atascadero Rd, Morro Bay, CA 93442
      View Details
    • Contact for pricing
      2,200 SF

      Turnkey Restaurant Opportunity For Sale

      Ready-to-operate restaurant with strong potential for immediate activation.
      2490 Main St, Morro Bay, CA 93442
      View Details
    • Contact for pricing
      10,586 SF

      Morro Bay Hospitality Property

      29-room hospitality property on 1.3 acres in Morro Bay.
      2460 Main St, Morro Bay, CA 93442
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Prime Commercial Land in Morro Bay

      1.63-acre commercial land for lease near Highway 1.
      298 Atascadero Rd, Morro Bay, CA 93442
      View Details
    • Contact for pricing
      1,200 SF

      Retail Space in Morro Bay

      Retail space available for lease in Morro Bay, CA.
      490 Quintana Rd, Morro Bay, CA 93442
      View Details
    • Contact for pricing

      Prime Commercial Land Near Highway 1

      1.63-acre commercial land for lease near Highway 1.
      298 Atascadero Rd, Morro Bay, CA 93442
      View Details
    • Contact for pricing
      1,600 SF

      Professional Office Suite in Morro

      Move-in ready office suite in the heart of Morro Bay.
      610-680 Quintana Rd, Morro Bay, CA 93442
      View Details
    • Contact for pricing

      Morro Bay Retail/Office Space

      Highly visible retail/office space with ample parking in Morro Bay.
      400 Quintana Rd, Morro Bay, CA 93442
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1140 Allesandro St
    Morro Bay, CA 93442
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    1140 Allesandro St, Morro Bay, CA, 93442
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!