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    Property profile & analytics

    121 Nevada St Arroyo Grande, CA 93420-2609

    • Office buildings
    • 4,848 SF
    • 0.31 lot acres
    OFF-MARKET
    Value Estimations
    $1,465,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-1222755
    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

    • Office buildings

    Property Details for 121 Nevada St

    Year built
    1957
    Construction
    WOOD
    Lot size
    0.31 lot acres
    Property size
    4,848 SF
    Zone code
    VC
    Property type
    Office buildings
    APN
    007-191-057
    APU
    7191057

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,605,000
      6.5%
      $1,480,000
      7%
      $1,375,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,578,000
      Market price range: $796k - $1.58M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $1,865,000
      Current use
      COMMERCIAL (GENERAL)
      $2,415,000
      Change: +29% Conversion: Easy
      AUTO REPAIR, GARAGE
      $2,215,000
      Change: +19% Conversion: Difficult
      MEDICAL BUILDING
      $1,990,000
      Change: +7% Conversion: Easy
      RETAIL STORES
      $1,785,000
      Change: -4% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Arroyo Grande
    County
    San Luis Obispo
    State
    California
    Longitude
    -120.58
    Latitude
    35.1239
    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
    $13,290
    $564,853
    $694,706
    $1,259,559
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request

      214 Br St

      PROFESSIONAL BUILDING
      214 Br St, Arroyo Grande, CA 93420-2704
      View Details
    • Value Estimation by Request
      1,102 SF

      Grand Ave

      PROFESSIONAL BUILDING • 1,102 SF
      Grand Ave, Arroyo Grande, CA 93420
      View Details
    • Value Estimation
      $1,540,000
      5,092 SF

      530 Paulding Cir Ste A

      PROFESSIONAL BUILDING • 5,092 SF
      530 Paulding Cir Ste A, Arroyo Grande, CA 93420-2858
      View Details
    • Value Estimation by Request
      2,338 SF

      229 Stanley Ave

      PROFESSIONAL BUILDING • 2,338 SF
      229 Stanley Ave, Arroyo Grande, CA 93420-2844
      View Details
    • Value Estimation by Request
      2,595 SF

      209 Halcyon Rd

      PROFESSIONAL BUILDING • 2,595 SF
      209 Halcyon Rd, Arroyo Grande, CA 93420-3117
      View Details
    • Value Estimation
      $760,000
      3,600 SF

      Le Pt

      PROFESSIONAL BUILDING • 3,600 SF
      Le Pt, Arroyo Grande, CA 93420
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      19,352 SF

      Mixed-Use Property in Arroyo Grande

      Two buildings with suites, apartments, and parking in Arroyo Grande.
      200-230 Station Way, Arroyo Grande, CA 93420
      View Details
    • $649,000
      1,751 SF

      Arroyo Grande Commercial Sale Opportunity

      Versatile space suitable for medical or professional office uses.
      1577 El Camino Real, Arroyo Grande, CA 93420
      View Details
    • $749,000

      Versatile Medical/Professional Office Space

      Adaptable space for medical or professional office uses.
      1577 El Camino Real, Arroyo Grande, CA 93420
      View Details
    • $6,500,000

      Versatile Mixed-Use Property

      Mixed-use property with office, retail, and residential spaces.
      200230 Station Way, Arroyo Grande, CA 93420
      View Details
    • $6,500,000
      19,352 SF

      Arroyo Grande Office Complex

      Prime Mixed-Use Investment, High Occupancy
      200 Station Way, Arroyo Grande, CA 93420
      View Details
    • $75,000

      San Luis Obispo County Land

      6 acres in San Luis Obispo County near Highway 166.
      Hwy 166, Arroyo Grande, CA 93420
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,748 SF

      Arroyo Grande Office Space Available

      Office suite with exam rooms, private restroom, and patio.
      200 Station Way, 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
    • Contact for pricing
      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
    • Contact for pricing
      4,390 SF

      Retail Space in Arroyo Grande

      Retail space available for lease in Arroyo Grande, CA.
      1580 W Branch St, Arroyo Grande, CA 93420
      View Details
    • $2 SF/Yr
      2,600 SF

      Rancho Pkwy Restaurant Space Available

      2600 SF restaurant space for rent in Arroyo Grande.
      911 Rancho Pkwy, Arroyo Grande, CA 93420
      View Details
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    121 Nevada St
    Arroyo Grande, CA 93420-2609
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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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