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Property profile & analytics
OFF-MARKET
Estimated value
$3,945,000
Office buildings
1428 Phillips Ln San Luis Obispo, CA 93401-2537
Individually Owned
1-yr Hold
Free & Clear
Property ID
US09-2459712
Property profile
Verified
Property type
Office buildings
Use group
PROFESSIONAL BUILDING
Year built
1929
Construction
WOOD
Total area
14,773 SF
Lot
0.7 ac (30,500 SF)
Zoning code
O
APN
001-131-008
UPID
US09-2459712
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
-
American Cancer Society Charitable Organization
-
Feingold Elisa S DO Physician
-
Aylor a Robin PhD Physician Medical Clinic
-
Haley Green, Certified Massage Therapist Alternative Medicine Practice Spa & Massage Center
-
Prudential Insurance Co Financial Advisor Insurance Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$4.51M
Comparable Approach
Comparable
$3.67M
Blend (final)
Blend
$3.95M
Owner & transaction history
Thomas Mclaughlin · 1 yrs held
Thomas Mclaughlin
since 2025
6 recorded transactions
Zoning & alternative use
O · San Luis Obispo, 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 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
by Request
CAP Approach
CAP Return
Estimation
6%
$4,890,000
6.5%
$4,510,000
7%
$4,190,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$6,300,000
Change: -6% · Conversion: Easy
Blend value · Realmo final
$3.95M
Range $3.55M – $4.34M · ±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
$267 / 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
$55,915
Tax year 2024
Assessed value
$5,059,516
Assessed 2024
Previous assessed
$5,059,516
+0.0% YoY
Effective rate
1.11%
On assessed value
Assessed land
$3,090,630
Assessed improvement
$1,968,886
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
PROFESSIONAL BUILDING
Status
Off-Market
Year built
1929
Construction
WOOD
Heating
NONE
Total area
14,773 SF
Lot
0.7 ac (30,500 SF)
Zoning code
O
APN
001-131-008
UPID
US09-2459712
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
MEDICAL BUILDING
Est. value
$6.3M
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
1929
Construction
WOOD
Heating
NONE
Lot
0.7 ac
Current owner
From public records · entity-resolved
Thomas Mclaughlin
Individual
Free & Clear · 1 yrs held
Mailing address
PO BOX 13809, SAN LUIS OBISPO, CA 93406-3809
Ownership since
2025
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
Feb 20, 2025
—
Thomas Mclaughlin
Thomas A Mclaughlin
Deed
related
—
Mar 12, 2008
—
Thomas A Mclaughlin
Gray P D & C Living Trust
Grant Deed
—
Sep 21, 2007
—
Philip D Gray
William J Nasif
Grant Deed
$1,900,000 · Indymac Commercial Lending Corp
Jul 26, 2005
—
Lee Gary A Family Trust
Lee,gary A & Beverly J
Quit Claim Deed
related
—
Oct 29, 2004
$550,000
Nasif Trust
Bruington Murl Trust
Grant Deed
related
$80,000 · Hearn Construction Co INC
Oct 18, 2004
—
Bruington Murl Trust
Bruington K K & M D Trust
Quit Claim Deed
related
—
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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