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Property profile & analytics
OFF-MARKET
Estimated value
$675,000
Retail space
1164 Grand Ave Arroyo Grande, CA 93420-2583
Individually Owned
1-yr Hold
Absentee Owner
Free & Clear
Property ID
US09-1931335
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1997
Construction
WOOD
Total area
2,080 SF
Lot
0.41 ac (17,860 SF)
Zoning code
GMU
APN
077-113-005
UPID
US09-1931335
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
$765k
CAP Approach
CAP
$520k
Comparable Approach
Comparable
$640k
Blend (final)
Blend
$675k
Owner & transaction history
Joel Steven Riley · 1 yrs held
Joel Steven Riley
since 2025
Last sale
$670,000
6 recorded transactions
Zoning & alternative use
GMU · Arroyo Grande, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The primary purpose of the GMU district is to provide for the combination of financial institutions, retail, office and commercial uses and multi family residences with retail and other pedestrian oriented uses
Zone name
Gateway Mixed Use
General category
MIXED_USE
Zone area
62.69 ac
Source
Realmo
Top alternative use upside
Commercial (general)
$1.0M
+35.1%
Auto repair, garage
$950,000
+24.0%
Medical building
$855,000
+11.4%
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 Arroyo Grande submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Arroyo Grande 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
$770,000
ML approach
$765,000
CAP Approach
CAP Return
Estimation
6%
$565,000
6.5%
$520,000
7%
$485,000
Alternative Use
Use
Estimation
RETAIL STORES
$765,000
Current use
COMMERCIAL (GENERAL)
$1,035,000
Change: +35% · Conversion: Easy
AUTO REPAIR, GARAGE
$950,000
Change: +24% · Conversion: Difficult
MEDICAL BUILDING
$855,000
Change: +11% · Conversion: Difficult
OFFICE BUILDING
$800,000
Change: +4% · Conversion: Easy
Blend value · Realmo final
$675k
Range $608k – $743k · ±10% · vs last sale $670k (Aug 13 2021)
Last sale anchor
$670k
Aug 13 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
$325 / 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
$7,731
Tax year 2024
Assessed value
$732,737
Assessed 2024
Previous assessed
$732,737
+0.0% YoY
Effective rate
1.06%
On assessed value
Assessed land
$546,820
Assessed improvement
$185,917
Applied tax rate
1.0000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1997
Construction
WOOD
Heating
NONE
Rooms
10
Bathrooms
3
Total area
2,080 SF
Lot
0.41 ac (17,860 SF)
Zoning code
GMU
APN
077-113-005
UPID
US09-1931335
Jurisdiction
SAN LUIS OBISPO
Zoning & alternative use
GMU · Arroyo Grande, CAZoning GMU · permitted uses
GMU · Arroyo Grande, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The primary purpose of the GMU district is to provide for the combination of financial institutions, retail, office and commercial uses and multi family residences with retail and other pedestrian oriented uses
Zone name
Gateway Mixed Use
General category
MIXED_USE
Zone area
62.69 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$765,000
COMMERCIAL (GENERAL)
Est. value
$1.0M
AUTO REPAIR, GARAGE
Est. value
$950,000
MEDICAL BUILDING
Est. value
$855,000
OFFICE BUILDING
Est. value
$800,000
RETAIL STORES Current
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
MEDICAL BUILDING
OFFICE 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
1997
Construction
WOOD
Heating
NONE
Rooms
10
Bathrooms
3
Lot
0.41 ac
Current owner
From public records · entity-resolved
Joel Steven Riley
Individual
Free & Clear · 1 yrs held
Mailing address
1159 FAIR OAKS AVE, ARROYO GRANDE, CA 93420-3825
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
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 28, 2025
—
Joel Steven Riley
Joel Steven Riley
Deed
related
—
Aug 13, 2021
—
Joel Steven Riley
Joel Steven Riley
Intrafamily Transfer
related
—
Dec 28, 2018
$670,000
Joel Steven Riley
Joseph J Wais
Grant Deed
$536,000 · Us Bank NA
Nov 14, 1995
$200,000
Joseph J Wais
Coker Ellsworth INC
Grant Deed
—
Oct 20, 1993
$31,544
Coker Ellsworth INC
Arroyo Grande Pr
Trustees Deed
—
—
—
Arroyo Grande Professional Cente
—
Deed Of Trust
related
$30,000 · Individual
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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