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Property profile & analytics
OFF-MARKET
Office Spaces
1190 Main St Morro Bay, CA 93442-2006
Individually Owned
2-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-3785317
Property profile
Verified
Property type
Office Spaces
Use group
CONDOMINIUM OFFICES
Year built
2006
Construction
WOOD
Total area
402 SF
Lot
0.01 ac (436 SF)
Zoning code
C1
APN
066-314-002
UPID
US09-3785317
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
Current use
Occupant on record · Public records
-
Blessed Wellness Massage Alternative Medicine Practice Spa & Massage Center
-
TEAM Financial Networks Financial Advisor
-
Team IMO Insurance Services, LLC Insurance Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
George A Salsa III · 2 yrs held
George A Salsa III
since 2023
Last sale
$249,000
6 recorded transactions
Zoning & alternative use
C1 · Morro Bay, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Morro Bay submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Morro Bay 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$2,752
Tax year 2024
Assessed value
$249,000
Assessed 2024
Previous assessed
$249,000
+0.0% YoY
Effective rate
1.11%
On assessed value
Assessed land
$100,000
Assessed improvement
$149,000
Applied tax rate
6.0000
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 Spaces
Use group
CONDOMINIUM OFFICES
Status
Off-Market
Year built
2006
Construction
WOOD
Heating
NONE
Bathrooms
1
Total area
402 SF
Lot
0.01 ac (436 SF)
Zoning code
C1
APN
066-314-002
UPID
US09-3785317
Jurisdiction
SAN LUIS OBISPO
Zoning & alternative use
C1 · Morro Bay, CA
Zoning C1 · permitted uses
C1 · Morro Bay, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Morro Bay. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
2006
Construction
WOOD
Heating
NONE
Bathrooms
1
Lot
0.01 ac
Current owner
From public records · entity-resolved
George A Salsa III
Individual
Mailing address
580 DOWNING ST, MORRO BAY, CA 93442-1822
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2023
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
Sep 28, 2023
$249,000
George A Salsa III
Cynthia Grijalva
Grant Deed
$199,000 · Cynthia Grijalva
Oct 14, 2016
—
Cynthia Williams
Williams,dennis
Quit Claim Deed
related
—
Oct 14, 2016
$190,000
Cynthia Williams
Sandra Cade
Grant Deed
$171,700 · Meadows Bank
Dec 17, 2012
—
Futura Bella Trust
Cade,sandra
Grant Deed
related
—
Sep 10, 2010
$129,000
Sandra Cade
Dunes Mb Sunset Place LLC
Grant Deed
$74,000 · Dunes Mb Sunset Place LLC
Sep 11, 2009
—
Dunes Mb Sunset Place LLC
—
Deed Of Trust
related
$1,500,000 · Founders Community Bank
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
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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