Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    2040 Prado Rd San Luis Obispo, CA 93401
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2040 Prado Rd San Luis Obispo, CA 93401

    View on Map
    • Commercial land
    • 3.59 lot acres
    For Lease
    $2,300,000
    View Listing →
    Prime Commercial Land for Lease For Lease
    $2,300,000
    75,000 SF

    Prime Commercial Land for Lease

    Highly visible 3.59-acre commercial land in San Luis Obispo.

    2040 Prado Road, San Luis Obispo, CA 93401
    View Listing
    Property ID
    US09-5587719
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $2,300,000
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial land

    Property Details for 2040 Prado Rd

    Lot size
    3.59 lot acres
    Zone code
    CN
    Property type
    Commercial land
    APN
    053-153-007
    APU
    53153007

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,300,000
      ML approach
      $2,300,000

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    San Luis Obispo
    County
    San Luis Obispo
    State
    California
    Longitude
    -120.676
    Latitude
    35.258
    CBSA code
    42020
    CBSA name
    SAN LUIS OBISPO-PASO ROBLES, CA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $10,323
    $934,113
    $0.00
    $934,113
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      0.25 Acres

      Montalban St

      VACANT COMMERCIAL LAND • 0.25 Acres
      Montalban St, San Luis Obispo, CA 93405
      View Details
    • Value Estimation
      $2,770,000
      2.46 Acres

      Froom Rnch Way

      VACANT COMMERCIAL LAND • 2.46 Acres
      Froom Rnch Way, San Luis Obispo, CA 93405
      View Details
    • Value Estimation
      $19,175,000
      2.84 Acres

      1381 Calle Joaquin

      VACANT COMMERCIAL LAND • 2.84 Acres
      1381 Calle Joaquin, San Luis Obispo, CA 93405-7203
      View Details
    • Value Estimation by Request
      0.60 Acres

      1675 Calle Joaquin

      VACANT COMMERCIAL LAND • 0.60 Acres
      1675 Calle Joaquin, San Luis Obispo, CA 93405-7214
      View Details
    • Value Estimation
      $575,000
      2.85 Acres

      1211 Calle Joaquin

      VACANT COMMERCIAL LAND • 2.85 Acres
      1211 Calle Joaquin, San Luis Obispo, CA 93405-7203
      View Details
    • Value Estimation by Request
      0.02 Acres

      137 Fel Mar Dr

      VACANT COMMERCIAL LAND • 0.02 Acres
      137 Fel Mar Dr, San Luis Obispo, CA 93405-1015
      View Details

    Similar Nearby for Sale

    • $500,000
      3,353,248.80 Acres

      Pristine Land Parcel in San Luis Obispo

      77-acre parcel with homesite potential near West Cuesta Ridge Trail.
      Stage Coach Rd, San Luis Obispo, CA 93405
      View Details
    • $524,900
      5,426.00 Acres

      Residential Lot in Monterey Heights

      Rare homesite with panoramic views in San Luis Obispo.
      Santa Maria Ave, San Luis Obispo, CA 93405
      View Details
    • $549,000
      18,260.00 Acres

      San Luis Obispo Land Opportunity

      Spacious lot in Upper Monterey Heights with stunning views.
      2298 Santa Ynez Ave, San Luis Obispo, CA 93405
      View Details
    • $3,450,000
      2,400 SF

      Historic Ranch Estate Near San Luis Obispo

      189-acre ranch with residences, barns, and equestrian facilities.
      1498 O'sconnor Way, San Luis Obispo, CA 93405
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,398 SF

      Retail Space in Regional Center

      Retail space available in high-traffic shopping center.
      481 Madonna Rd, San Luis Obispo, CA 93405
      View Details
    • Contact for pricing

      Retail/Office Space in Plaza

      Commercial leasing opportunity in San Luis Obispo's most-visited center.
      1501 Froom Ranch Way, San Luis Obispo, CA 93405
      View Details
    • Contact for pricing
      16,017 SF

      Retail Space in Popular Center

      Former Rite Aid space with excellent visibility and ample parking.
      956 Foothill Blvd, San Luis Obispo, CA 93405
      View Details
    View Listing
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2040 Prado Rd
    San Luis Obispo, CA 93401
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!