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    Property profile & analytics

    1156 Grand Ave Arroyo Grande, CA 93420-2583

    • Medical offices
    • 4,439 SF
    • 0.35 lot acres
    OFF-MARKET
    Last Sale
    Jul 30, 2024
    $2,300,000
    Value Estimations
    $2,090,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-1338229
    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.

    Current Use by Public Records

    • Medical offices

    Property Details for 1156 Grand Ave

    Year built
    1993
    Construction
    WOOD
    Lot size
    0.35 lot acres
    Property size
    4,439 SF
    Zone code
    GMU
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    077-113-022
    APU
    77113022

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,035,000
      6.5%
      $1,880,000
      7%
      $1,745,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,879,000
      Market price range: $1.08M - $2.47M

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $1,825,000
      Current use
      COMMERCIAL (GENERAL)
      $2,210,000
      Change: +21% Conversion: Easy
      AUTO REPAIR, GARAGE
      $2,030,000
      Change: +11% Conversion: Difficult
      OFFICE BUILDING
      $1,705,000
      Change: -6% Conversion: Easy
      RETAIL STORES
      $1,635,000
      Change: -10% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Arroyo Grande
    County
    San Luis Obispo
    State
    California
    Longitude
    -120.598
    Latitude
    35.1205
    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
    $13,847
    $601,503
    $710,868
    $1,312,371
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      1,792 SF

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      MEDICAL BUILDING • 1,792 SF
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      View Details
    • Value Estimation
      $1,245,000
      3,222 SF

      1555 El Camino Real

      MEDICAL BUILDING • 3,222 SF
      1555 El Camino Real, Arroyo Grande, CA 93420-2236
      View Details
    • Value Estimation
      $1,000,000
      3,427 SF

      303 Halcyon Rd

      MEDICAL BUILDING • 3,427 SF
      303 Halcyon Rd, Arroyo Grande, CA 93420-3817
      View Details
    • Value Estimation by Request
      1,122 SF

      205 Halcyon Rd

      MEDICAL BUILDING • 1,122 SF
      205 Halcyon Rd, Arroyo Grande, CA 93420-3117
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    • Value Estimation by Request
      1,358 SF

      207 Brg St

      MEDICAL BUILDING • 1,358 SF
      207 Brg St, Arroyo Grande, CA 93420-3311
      View Details
    • Value Estimation
      $12,040,000
      44,067 SF

      850 Fair Oaks Ave

      MEDICAL BUILDING • 44,067 SF
      850 Fair Oaks Ave, Arroyo Grande, CA 93420-3923
      View Details

    Similar Nearby for Sale

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      Prime Mixed-Use Investment, High Occupancy
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      RCFE-6 Business Opportunity

      Turnkey RCFE-6 business in Arroyo Grande, CA.
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      Versatile Arroyo Grande Commercial Property

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    • $6,500,000
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      Two buildings with suites, apartments, and parking in Arroyo Grande.
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      Versatile Mixed-Use Property

      Mixed-use property with office, retail, and residential spaces.
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    • $130,000

      San Luis Obispo County Land

      6 acres in San Luis Obispo County near Highway 166.
      166 Hwy, Arroyo Grande, CA 93420
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    Similar Nearby for Lease

    • $1.75 SF/Yr
      1,748 SF

      Arroyo Grande Office Space Available

      Office suite with exam rooms, private restroom, and patio.
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      View Details
    • $1.00 SF/Yr
      1,569 SF

      Retail/Office Space in Arroyo Grande

      Retail/office space with convenient access to Highway 101.
      624 East Grand Ave, Arroyo Grande, CA 93420
      View Details
    • Contact for pricing
      2,889 SF

      Arroyo Grande Office Suite

      Professional office suite with reception area, offices, and conference room.
      524 Branch St, Arroyo Grande, CA 93420
      View Details
    • $2 SF/Yr
      1,500 SF

      Restaurant Space For Rent

      Second-generation restaurant space available for rent.
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    • $2 SF/Yr
      7,225 SF

      Retail Space in Arroyo Grande

      Retail space available in a high-traffic shopping center.
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      View Details
    • $1.50 SF/Yr
      3,375 SF

      Retail Space in Arroyo Grande

      Retail space available for lease in Arroyo Grande, CA.
      2794 S Halcyon Rd, Arroyo Grande, CA 93420
      View Details
    Request Owner's contact information
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    1156 Grand Ave
    Arroyo Grande, CA 93420-2583
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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.

    More about this property
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