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Property profile & analytics
OFF-MARKET
Estimated value
$605,000
Medical Office Space
1334 Marsh St San Luis Obispo, CA 93401-3316
Entity Owned
10-yr Hold
Absentee Owner
Free & Clear
Property ID
US09-1925224
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1968
Construction
WOOD
Total area
2,318 SF
Lot
0.14 ac (6,103 SF)
Zoning code
O
APN
002-334-023
UPID
US09-1925224
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
-
Donald W Smilovitz Inc Medical Clinic
-
Lydia Ann Walker Physician
-
Jeffrey M Md Bloom Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$400k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$683k
Blend (final)
Blend
$605k
Owner & transaction history
Busick Smith LLC · 10 yrs held
Busick Smith LLC
since 2015
7 recorded transactions
Zoning & alternative use
O · San Luis Obispo, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
vation/Open Space (C/OS) Zone 17.16 Low-Density Residential (R-1) Zone 17.18 Medium-Density Residential (R-2) Zone 17.20 Medium-High Density Residential (R-3) Zone 17.22 High-Density Residential (R-4) Zone 17.24 Office (O) Zone 17.26 Neighborhood Commercial (C-N) Zone 17.28 Community Commercial (C-C) Zone 17.30 Retail Commercial (C-R) Zone 17.32 Downtown Com…
Zone name
Office
General category
COMMERCIAL
Zone area
105.53 ac
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
by Request
ML approach
$400,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$990,000
Current use
Blend value · Realmo final
$605k
Range $545k – $666k · ±10%
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
$261 / 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
$6,231
Tax year 2024
Assessed value
$563,838
Assessed 2024
Previous assessed
$563,838
+0.0% YoY
Effective rate
1.11%
On assessed value
Assessed land
$251,595
Assessed improvement
$312,243
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1968
Construction
WOOD
Heating
NONE
Buildings
2
Rooms
4138
Bathrooms
3
Total area
2,318 SF
Lot
0.14 ac (6,103 SF)
Zoning code
O
APN
002-334-023
UPID
US09-1925224
Jurisdiction
SAN LUIS OBISPO
Zoning & alternative use
O · San Luis Obispo, CAZoning 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
Zoning description
vation/Open Space (C/OS) Zone 17.16 Low-Density Residential (R-1) Zone 17.18 Medium-Density Residential (R-2) Zone 17.20 Medium-High Density Residential (R-3) Zone 17.22 High-Density Residential (R-4) Zone 17.24 Office (O) Zone 17.26 Neighborhood Commercial (C-N) Zone 17.28 Community Commercial (C-C) Zone 17.30 Retail Commercial (C-R) Zone 17.32 Downtown Commercial (C-D) Zone 17.34 Tourist Commercial (C-T) Zone 17.36 Service Commercial (
Zone name
Office
General category
COMMERCIAL
Zone area
105.53 ac
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$990,000
MEDICAL BUILDING Current
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
1968
Construction
WOOD
Heating
NONE
Buildings
2
Rooms
4138
Bathrooms
3
Lot
0.14 ac
Current owner
From public records · entity-resolved
Busick Smith LLC
Entity
Free & Clear · 10 yrs held
Mailing address
4866 CABALLEROS AVE, SAN LUIS OBISPO, CA 93401-7964
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 25, 2025
—
Busick Smith LLC
—
Deed
related
$1,400,000 · West Coast Community Bank
Apr 14, 2023
—
Busick Smith LLC
—
Deed
related
$550,000 · 1st Capital Bank
Sep 9, 2016
—
Busick Smith LLC
—
Deed
related
$850,000 · First Cap Bk
Nov 10, 2015
—
Busick Smith LLC
Smith C D & B P K Trust
Quit Claim Deed
—
Oct 21, 2014
—
Smith Trust
R M Austin Properties LP
Grant Deed
$277,000 · Niezen Family Trust (pt)
Oct 3, 1997
$8,000
R M Austin Properties LP
Brenner,patricia A
Grant Deed
—
Oct 3, 1997
$710,000
R M Austin Properties LP
Austin,regina M
Grant Deed
related
—
Oct 3, 1997
$15,500
R M Austin Properties LP
R M Austin Property Management
Grant Deed
related
—
Aug 6, 1997
—
R M Austin Property Mgmt INC
Austin,regina M
Quit Claim Deed
related
—
Feb 22, 1993
—
Regina M Austin
Ricks,louis C
Grant Deed
related
—
—
—
Busick Smith LLC
—
Loan Modification
related
$850,000 · First Cap Bk
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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