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Property profile & analytics
OFF-MARKET
Estimated value
$735,000
Office buildings
1303 Higuera St Ste A San Luis Obispo, CA 93401-3168
Entity Owned
3-yr Hold
Absentee Owner
Free & Clear
Property ID
US09-2386688
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1907
Construction
WOOD
Total area
1,135 SF
Lot
0.12 ac (5,400 SF)
Zoning code
O
APN
002-334-020
UPID
US09-2386688
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
-
John Pratt Attorneys At Law Law Firm
-
Harold V. Mesick Attorney & Counselor at Law Law Firm
-
Covered California Certified Agent - Kip Meredith Insurance Agency
-
Irene Ryn Coldwell Banker Realty Real Estate Agency
-
Home Helpers of San Luis Obispo County Employment Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$795k
Blend (final)
Blend
$735k
Owner & transaction history
Merry 805 Properties LLC · 3 yrs held
Merry 805 Properties LLC
since 2023
Last sale
$750,000
7 recorded transactions
Zoning & alternative use
O · San Luis Obispo, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$595,000
+16.0%
Auto repair, garage
$520,000
+0.8%
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 San Luis Obispo submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs San Luis Obispo 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
$990,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$515,000
Current use
COMMERCIAL (GENERAL)
$595,000
Change: +16% · Conversion: Easy
AUTO REPAIR, GARAGE
$520,000
Change: +1% · Conversion: Difficult
MEDICAL BUILDING
$485,000
Change: -6% · Conversion: Easy
Blend value · Realmo final
$735k
Range $662k – $809k · ±10% · vs last sale $750k (Jun 15 2023)
Last sale anchor
$750k
Jun 15 2023
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
$648 / 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
$8,454
Tax year 2024
Assessed value
$765,000
Assessed 2024
Previous assessed
$765,000
+0.0% YoY
Effective rate
1.11%
On assessed value
Assessed land
$510,000
Assessed improvement
$255,000
Applied tax rate
3.0000
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 buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1907
Construction
WOOD
Heating
NONE
Rooms
5
Bathrooms
1
Total area
1,135 SF
Lot
0.12 ac (5,400 SF)
Zoning code
O
APN
002-334-020
UPID
US09-2386688
Jurisdiction
SAN LUIS OBISPO
Zoning & alternative use
O · San Luis Obispo, CA
Zoning O · permitted uses
O · San Luis Obispo, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
San Luis Obispo. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$515,000
COMMERCIAL (GENERAL)
Est. value
$595,000
AUTO REPAIR, GARAGE
Est. value
$520,000
MEDICAL BUILDING
Est. value
$485,000
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
MEDICAL 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
1907
Construction
WOOD
Heating
NONE
Rooms
5
Bathrooms
1
Lot
0.12 ac
Current owner
From public records · entity-resolved
Merry 805 Properties LLC
Entity
Free & Clear · 3 yrs held
Mailing address
12590 MADRID RD, ATASCADERO, CA 93422-6109
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
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 15, 2023
$750,000
Merry 805 Properties LLC
Gayle L Peron
Grant Deed
—
Jul 14, 2020
—
Gayke L Peron
Lissa Peron
Affidavit Of Death
related
—
Jan 15, 2019
—
J,evy Trust
—
Deed
related
$157,157 · Bank Of The Sierra
Jul 31, 1998
$277,500
John M Pratt
Alken,james L & Patricia J
Grant Deed
$208,125 · Coast National Bank
Jun 18, 1992
$290,000
James L Aiken
Hyes,william A
Grant Deed
$261,000 · First National Bank Ventura
Aug 24, 1989
$97,000
William A Haves
Environmental,mo
Grant Deed
related
—
Jul 17, 1989
$97,000
William A Hayes
Environmental,mo
Grant Deed
related
—
—
—
J,evy Trust
—
Loan Modification
related
$157,157 · Bank Of The Sierra
—
—
Evy J Trust
—
Deed Of Trust
related
$189,000 · Coast National 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.
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