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Property profile & analytics
OFF-MARKET
Estimated value
$520,000
Medical Office Space
1551 Bishop St Ste 430 San Luis Obispo, CA 93401-4663
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US09-1806908
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1986
Construction
WOOD
Total area
1,070 SF
Lot
0.02 ac (1,070 SF)
Zoning code
O
APN
003-703-047
UPID
US09-1806908
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$710k
CAP Approach
CAP
$455k
Comparable Approach
Comparable
$594k
Blend (final)
Blend
$520k
Owner & transaction history
Fu Real Property LLC · 5 yrs held
Fu Real Property LLC
since 2020
Last sale
$512,000
4 recorded transactions
Zoning & alternative use
O · San Luis Obispo, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$565,000
+23.4%
Auto repair, garage
$490,000
+7.1%
Office building
$485,000
+6.3%
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
$695,000
ML approach
$710,000
CAP Approach
CAP Return
Estimation
6%
$490,000
6.5%
$455,000
7%
$420,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$455,000
Current use
COMMERCIAL (GENERAL)
$565,000
Change: +23% · Conversion: Easy
AUTO REPAIR, GARAGE
$490,000
Change: +7% · Conversion: Difficult
OFFICE BUILDING
$485,000
Change: +6% · Conversion: Easy
Blend value · Realmo final
$520k
Range $468k – $572k · ±10% · vs last sale $512k (Dec 21 2020)
Last sale anchor
$512k
Dec 21 2020
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
$486 / 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
$6,005
Tax year 2024
Assessed value
$543,337
Assessed 2024
Previous assessed
$543,337
+0.0% YoY
Effective rate
1.11%
On assessed value
Assessed land
$275,914
Assessed improvement
$267,423
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
1986
Construction
WOOD
Heating
NONE
Rooms
1070
Total area
1,070 SF
Lot
0.02 ac (1,070 SF)
Zoning code
O
APN
003-703-047
UPID
US09-1806908
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 Current
Est. value
$455,000
COMMERCIAL (GENERAL)
Est. value
$565,000
AUTO REPAIR, GARAGE
Est. value
$490,000
OFFICE BUILDING
Est. value
$485,000
MEDICAL BUILDING Current
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
OFFICE 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
1986
Construction
WOOD
Heating
NONE
Rooms
1070
Lot
0.02 ac
Current owner
From public records · entity-resolved
Fu Real Property LLC
Entity
Mailing address
1551 BISHOP ST STE #430, SAN LUIS OBISPO, CA 93401-4663
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 21, 2020
$512,000
Fu Real Property LLC
Lapidus Family Trust
Grant Deed
$635,000 · Live Oak Bkng Co
Jul 13, 2015
—
Lapidus Family Trust
Lapidus,daniel E & Melissa S
Quit Claim Deed
related
—
Dec 24, 2012
$340,000
Daniel E Lapidus
Ackerman Laurence Liv Trust
Grant Deed
$315,000 · Ackerman Laurence Liv Tr (lt)
Jan 28, 2010
—
Ackerman Laurence Living Trust
Ackerman,laurence
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.
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