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Property profile & analytics
OFF-MARKET
Estimated value
$7,470,000
Medical Office Space
1823 Johnson Ave San Luis Obispo, CA 93401
Individually Owned
7-yr Hold
Absentee Owner
Free & Clear
Property ID
US09-5117908
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2015
Construction
STEEL FRAME
Total area
17,742 SF
Lot
0.27 ac (11,761 SF)
Zoning code
O
APN
003-568-005
UPID
US09-5117908
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
$7.52M
Comparable Approach
Comparable
$9.85M
Blend (final)
Blend
$7.47M
Owner & transaction history
Dignity Community Care · 7 yrs held
Dignity Community Care
since 2019
3 recorded transactions
Zoning & alternative use
O · San Luis Obispo, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
vation/Open Space (C/OS) Zone 17.16 Low-Density Residential (R-1) Zone 17.18 Medium-Density Residential (R-2) Zone 17.20 Medium-High Density Residential (R-3) Zone 17.22 High-Density Residential (R-4) Zone 17.24 Office (O) Zone 17.26 Neighborhood Commercial (C-N) Zone 17.28 Community Commercial (C-C) Zone 17.30 Retail Commercial (C-R) Zone 17.32 Downtown Com…
Zone name
Office
General category
COMMERCIAL
Zone area
105.53 ac
Top alternative use upside
Apartment house (5+ units)
$11.2M
+48.2%
Commercial (general)
$9.3M
+23.4%
Restaurant
$8.9M
+17.9%
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%
$8,140,000
6.5%
$7,515,000
7%
$6,980,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$7,570,000
Current use
APARTMENT HOUSE (5+ UNITS)
$11,215,000
Change: +48% · Conversion: Moderate
COMMERCIAL (GENERAL)
$9,335,000
Change: +23% · Conversion: Easy
RESTAURANT
$8,920,000
Change: +18% · Conversion: Difficult
AUTO REPAIR, GARAGE
$8,110,000
Change: +7% · Conversion: Difficult
OFFICE BUILDING
$8,050,000
Change: +6% · Conversion: Easy
Blend value · Realmo final
$7.47M
Range $6.72M – $8.22M · ±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
$421 / 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
$90,915
Tax year 2024
Assessed value
$8,226,502
Assessed 2024
Previous assessed
$8,226,502
+0.0% YoY
Effective rate
1.11%
On assessed value
Assessed land
$1,080,935
Assessed improvement
$7,145,567
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
2015
Construction
STEEL FRAME
Heating
NONE
Bathrooms
6
Total area
17,742 SF
Lot
0.27 ac (11,761 SF)
Zoning code
O
APN
003-568-005
UPID
US09-5117908
Jurisdiction
SAN LUIS OBISPO
Zoning & alternative use
O · San Luis Obispo, CAZoning 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
Zoning description
vation/Open Space (C/OS) Zone 17.16 Low-Density Residential (R-1) Zone 17.18 Medium-Density Residential (R-2) Zone 17.20 Medium-High Density Residential (R-3) Zone 17.22 High-Density Residential (R-4) Zone 17.24 Office (O) Zone 17.26 Neighborhood Commercial (C-N) Zone 17.28 Community Commercial (C-C) Zone 17.30 Retail Commercial (C-R) Zone 17.32 Downtown Commercial (C-D) Zone 17.34 Tourist Commercial (C-T) Zone 17.36 Service Commercial (
Zone name
Office
General category
COMMERCIAL
Zone area
105.53 ac
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$7.6M
APARTMENT HOUSE (5+ UNITS)
Est. value
$11.2M
COMMERCIAL (GENERAL)
Est. value
$9.3M
RESTAURANT
Est. value
$8.9M
AUTO REPAIR, GARAGE
Est. value
$8.1M
OFFICE BUILDING
Est. value
$8.1M
MEDICAL BUILDING Current
APARTMENT HOUSE (5+ UNITS)
COMMERCIAL (GENERAL)
RESTAURANT
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
2015
Construction
STEEL FRAME
Heating
NONE
Bathrooms
6
Lot
0.27 ac
Current owner
From public records · entity-resolved
Dignity Community Care
Individual
Free & Clear · 7 yrs held
Mailing address
3400 DATA DR, RANCHO CORDOVA, CA 95670-7956
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2019
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
Feb 1, 2019
$40,770,000
Dignity Community Care
Dignity Health
Grant Deed
—
—
—
Slo Health Pavilion LLC
—
Deed Of Trust
related
$1,000,000 · Heritage Oaks Bk
—
—
Slo Health Pavilion LLC
—
Deed Of Trust
related
$2,800,000 · Heritage Oaks Bk
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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