New search
Property profile & analytics
OFF-MARKET
Estimated value
$530,000
Mobile home & RV parks
1720 Little Morro Crk Rd, Morro Bay, CA 93442-1878
Entity Owned
21-yr Hold
Absentee Owner
Free & Clear
Property ID
US09-3226717
Property profile
Verified
Property type
Mobile home & RV parks
Use group
MOBILE HOME PARK, TRAILER PARK
Year built
1977
Construction
TYPE NOT SPECIFIED
Total area
1,080 SF
Lot
27.06 ac (1,178,733 SF)
Zoning code
AG
APN
073-111-032
UPID
US09-3226717
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
by Request
Comparable Approach
Comparable
$475k
Blend (final)
Blend
$530k
Owner & transaction history
JOSEPH M SPELLACY
JOSEPH M SPELLACY
Zoning & alternative use
AG · Morro Bay, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$760,000
+46.7%
Commercial (general)
$565,000
+8.8%
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 Morro Bay submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Morro Bay 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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MOBILE HOME PARK, TRAILER PARK
$520,000
Current use
OFFICE BUILDING
$760,000
Change: +47% · Conversion: Difficult
COMMERCIAL (GENERAL)
$565,000
Change: +9% · Conversion: Difficult
AUTO REPAIR, GARAGE
$495,000
Change: -5% · Conversion: Difficult
MEDICAL BUILDING
$445,000
Change: -15% · Conversion: Difficult
Blend value · Realmo final
$530k
Range $477k – $583k · ±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
$491 / 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
$5,142
Tax year 2024
Assessed value
$465,290
Assessed 2024
Previous assessed
$465,290
+0.0% YoY
Effective rate
1.11%
On assessed value
Assessed land
$398,568
Assessed improvement
$66,722
Applied tax rate
112.0000
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
Mobile home & RV parks
Use group
MOBILE HOME PARK, TRAILER PARK
Status
Off-Market
Year built
1977
Construction
TYPE NOT SPECIFIED
Heating
NONE
Total area
1,080 SF
Lot
27.06 ac (1,178,733 SF)
Zoning code
AG
APN
073-111-032
UPID
US09-3226717
Jurisdiction
SAN LUIS OBISPO
Zoning & alternative use
AG · Morro Bay, CA
Zoning AG · permitted uses
AG · Morro Bay, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Morro Bay. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
MOBILE HOME PARK, TRAILER PARK Current
Est. value
$520,000
OFFICE BUILDING
Est. value
$760,000
COMMERCIAL (GENERAL)
Est. value
$565,000
AUTO REPAIR, GARAGE
Est. value
$495,000
MEDICAL BUILDING
Est. value
$445,000
MOBILE HOME PARK, TRAILER PARK Current
OFFICE BUILDING
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
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
1977
Construction
TYPE NOT SPECIFIED
Heating
NONE
Lot
27.06 ac
Current owner
From public records · entity-resolved
JOSEPH M SPELLACY
Individual
Free & Clear · 0 yrs held
Mailing address
1540 LITTLE MORRO CRK RD, MORRO BAY, CA 93442-1877
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 1720 Little Morro Crk Rd?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
