Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1181 Main St Morro Bay, CA 93442-2005

    • Investment properties
    • 2,995 SF
    • 0.14 lot acres
    OFF-MARKET
    Value Estimations
    $1,010,000
    Show details
    Cap Rate Potential
    8.7%
    Investment properties
    Location Intelligence
    Property ID
    US09-1957867
    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

    • Investment properties

    Property Details for 1181 Main St

    Year built
    2004
    Construction
    WOOD
    Lot size
    0.14 lot acres
    Property size
    2,995 SF
    Zone code
    C1
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    066-024-023
    APU
    66024023

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,134,000
      Market price range: $530k - $1.21M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $1,565,000
      Current use
      AUTO REPAIR, GARAGE
      $1,370,000
      Change: -13% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Morro Bay
    County
    San Luis Obispo
    State
    California
    Longitude
    -120.85
    Latitude
    35.3703
    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
    $15,108
    $589,709
    $777,346
    $1,367,055
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      1,708 SF

      380 Quintana Rd

      OFFICE/RESIDENTIAL (MIXED USE) • 1,708 SF
      380 Quintana Rd, Morro Bay, CA 93442-2054
      View Details
    • Value Estimation by Request
      800 SF

      1031 Allesandro St

      OFFICE/RESIDENTIAL (MIXED USE) • 800 SF
      1031 Allesandro St, Morro Bay, CA 93442-2406
      View Details
    • Value Estimation
      $690,000
      1,894 SF

      560 Embarcadero

      OFFICE/RESIDENTIAL (MIXED USE) • 1,894 SF
      560 Embarcadero, Morro Bay, CA 93442-2218
      View Details
    • Value Estimation by Request
      480 SF

      464 Main St

      OFFICE/RESIDENTIAL (MIXED USE) • 480 SF
      464 Main St, Morro Bay, CA 93442-2540
      View Details
    • Value Estimation by Request
      2,036 SF

      245 Pacific St

      OFFICE/RESIDENTIAL (MIXED USE) • 2,036 SF
      245 Pacific St, Morro Bay, CA 93442-2201
      View Details
    • Value Estimation by Request
      2,015 SF

      320 Panay St

      OFFICE/RESIDENTIAL (MIXED USE) • 2,015 SF
      320 Panay St, Morro Bay, CA 93442-2930
      View Details

    Similar Nearby for Sale

    • $3,350,000

      Land Available in Morro Bay

      Land for sale in Morro Bay, California.
      2783 Coral Ave, Morro Bay, CA 93442
      View Details
    • $1,075,000

      Land with Iconic Views

      Land in high-traffic location with incredible potential.
      1111 Main St, Morro Bay, CA 93442
      View Details
    • $389,500

      Morro Bay 55+ Community Home

      Relaxing retreat near Morro Bay waterfront and outdoor adventures.
      1537 White Pine Dr, Morro Bay, CA 93442
      View Details
    • $3,900,000

      Land For Sale

      Land available for purchase.
      Atascadero Rd, Morro Bay, CA 93442
      View Details
    • $719,000

      Morro Bay Storefront Opportunity

      Versatile property near Morro Rock, suitable for various uses.
      1260 Main St, Morro Bay, CA 93442
      View Details
    • $339,000
      4,000.00 Acres

      Ocean-View Land in Morro Bay

      Ready-to-build land with ocean views in desirable Morro Bay.
      2350 Nutmeg Ave, Morro Bay, CA 93442
      View Details

    Similar Nearby for Lease

    • $1.60 SF/Yr
      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

      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
    • $1.60 SF/Yr

      Professional Office Suite in Morro

      Move-in ready office suite in Cypress Plaza Shopping Center.
      620 Quintana 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
      1 SF

      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
    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.
    1181 Main St
    Morro Bay, CA 93442-2005
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!