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Property profile & analytics
OFF-MARKET
Estimated value
$630,000
Office buildings
166 9th St Grover Beach, CA 93433-2122
Entity Owned
12-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-0131381
Property profile
Verified
Property type
Office buildings
Use group
PROFESSIONAL BUILDING
Year built
1986
Construction
WOOD
Total area
2,130 SF
Lot
0.06 ac (2,550 SF)
Zoning code
CBD
APN
060-231-038
UPID
US09-0131381
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
by Request
CAP Approach
CAP
$650k
Comparable Approach
Comparable
$663k
Blend (final)
Blend
$630k
Owner & transaction history
Cole Leon Investments LLC · 12 yrs held
Cole Leon Investments LLC
since 2013
7 recorded transactions
Zoning & alternative use
CBD · Grover Beach, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$975,000
+18.8%
Commercial (general)
$970,000
+18.3%
Medical building
$875,000
+6.8%
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 Grover Beach submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Grover Beach 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%
$705,000
6.5%
$650,000
7%
$605,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$820,000
Current use
AUTO REPAIR, GARAGE
$975,000
Change: +19% · Conversion: Difficult
COMMERCIAL (GENERAL)
$970,000
Change: +18% · Conversion: Easy
MEDICAL BUILDING
$875,000
Change: +7% · Conversion: Easy
RETAIL STORES
$785,000
Change: -4% · Conversion: Moderate
Blend value · Realmo final
$630k
Range $567k – $693k · ±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
$296 / 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
$4,872
Tax year 2024
Assessed value
$425,439
Assessed 2024
Previous assessed
$425,439
+0.0% YoY
Effective rate
1.15%
On assessed value
Assessed land
$106,959
Assessed improvement
$318,480
Applied tax rate
5.0000
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
1986
Construction
WOOD
Heating
NONE
Total area
2,130 SF
Lot
0.06 ac (2,550 SF)
Zoning code
CBD
APN
060-231-038
UPID
US09-0131381
Jurisdiction
SAN LUIS OBISPO
Zoning & alternative use
CBD · Grover Beach, CA
Zoning CBD · permitted uses
CBD · Grover Beach, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Grover Beach. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$820,000
AUTO REPAIR, GARAGE
Est. value
$975,000
COMMERCIAL (GENERAL)
Est. value
$970,000
MEDICAL BUILDING
Est. value
$875,000
RETAIL STORES
Est. value
$785,000
OFFICE BUILDING Current
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
MEDICAL BUILDING
RETAIL STORES
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
Lot
0.06 ac
Current owner
From public records · entity-resolved
Cole Leon Investments LLC
Entity
Mailing address
921 HUASNA RD, ARROYO GRANDE, CA 93420-2823
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2013
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
Oct 17, 2025
—
Cole Leon Investments LLC
—
Deed
related
$450,000 · West Coast Community Bank
Nov 15, 2013
$354,000
Cole Leon Investments LLC
Michael Butcher
Grant Deed
$326,000 · Wells Fargo Bank NA
Feb 2, 2006
$275,000
Michael Butcher
James C Chambers
Grant Deed
$310,000 · First Bank Of San Luis Obispo
Jan 25, 2005
—
Michael Butcher
Butcher & Chambers
Quit Claim Deed
related
—
Jan 19, 2005
—
Michael Butcher
Butcher & Chambers Cpa
Grant Deed
$225,000 · San Luis Trust Bank
Jun 12, 1996
$55,000
Butcher
Butcher,michael A
Grant Deed
related
$110,000 · Wells Fargo Bank
Feb 9, 1996
—
James C Chambers
Chambers,patti L
Quit Claim Deed
related
—
Feb 9, 1996
$1,000
Butcher,michael A
Wagner,dennis C & Cheryl L
Trustees Deed
related
—
—
—
Dennis C Wagner
—
Deed Of Trust
related
$30,000 · Individual
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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