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Property profile & analytics
OFF-MARKET
Estimated value
$1,020,000
Turn key restaurants
1601 Monterey St San Luis Obispo, CA 93401-2929
Entity Owned
5-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-2071563
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1946
Construction
TILT-UP CONCRETE
Total area
3,029 SF
Lot
0.13 ac (5,861 SF)
Zoning code
CT
APN
001-237-001
UPID
US09-2071563
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
-
Benny’s Kitchen Restaurant
-
Benny’s Pizza Palace and Social Club Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.09M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$642k
Blend (final)
Blend
$1.02M
Owner & transaction history
1601 Monterey LLC · 5 yrs held
1601 Monterey LLC
since 2021
Last sale
$950,000
3 recorded transactions
Zoning & alternative use
CT · San Luis Obispo, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.6M
+4.7%
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
$1,100,000
ML approach
$1,090,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$1,525,000
Current use
COMMERCIAL (GENERAL)
$1,595,000
Change: +5% · Conversion: Easy
AUTO REPAIR, GARAGE
$1,385,000
Change: -9% · Conversion: Difficult
OFFICE BUILDING
$1,375,000
Change: -10% · Conversion: Moderate
MEDICAL BUILDING
$1,290,000
Change: -15% · Conversion: Difficult
Blend value · Realmo final
$1.02M
Range $918k – $1.12M · ±10% · vs last sale $950k (May 21 2021)
Last sale anchor
$950k
May 21 2021
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
$337 / 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
$10,262
Tax year 2024
Assessed value
$928,556
Assessed 2024
Previous assessed
$928,556
+0.0% YoY
Effective rate
1.11%
On assessed value
Assessed land
$318,362
Assessed improvement
$610,194
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
1946
Construction
TILT-UP CONCRETE
Heating
NONE
Total area
3,029 SF
Lot
0.13 ac (5,861 SF)
Zoning code
CT
APN
001-237-001
UPID
US09-2071563
Jurisdiction
SAN LUIS OBISPO
Zoning & alternative use
CT · San Luis Obispo, CA
Zoning CT · permitted uses
CT · 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
RESTAURANT Current
Est. value
$1.5M
COMMERCIAL (GENERAL)
Est. value
$1.6M
AUTO REPAIR, GARAGE
Est. value
$1.4M
OFFICE BUILDING
Est. value
$1.4M
MEDICAL BUILDING
Est. value
$1.3M
RESTAURANT Current
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
OFFICE BUILDING
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
1946
Construction
TILT-UP CONCRETE
Heating
NONE
Lot
0.13 ac
Current owner
From public records · entity-resolved
1601 Monterey LLC
Entity
Mailing address
410 CORRIDA DR, SAN LUIS OBISPO, CA 93401-5530
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 21, 2021
$950,000
1601 Monterey LLC
Poulsen Investments LLC
Grant Deed
$750,000 · Poulsen Investments LLC
Aug 13, 2019
—
Poulsen Investments LLC
Poulsen Yvonne M F/tr
Quit Claim Deed
related
—
Jul 20, 1999
—
Poulsen Trust
Poulsen,yvonne M
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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