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Property profile & analytics
OFF-MARKET
Estimated value
$1,795,000
Grocery and convenience stores
2061 Cienaga St Oceano, CA 93445-9031
Individually Owned
4-yr Hold
Absentee Owner
Free & Clear
Property ID
US09-1767674
Property profile
Verified
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Year built
1976
Construction
TILT-UP CONCRETE
Total area
7,700 SF
Lot
0.56 ac (24,474 SF)
Zoning code
CR
APN
062-114-024
UPID
US09-1767674
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
-
Central Market Grocery & Convenience Store Food Market
-
TNT Fireworks Discount Store Party Supply Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.93M
Comparable Approach
Comparable
$2.26M
Blend (final)
Blend
$1.80M
Owner & transaction history
Kevin Joseph Koo · 4 yrs held
Kevin Joseph Koo
since 2022
5 recorded transactions
Zoning & alternative use
CR · Oceano, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$2.9M
+14.3%
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 Oceano submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Oceano 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%
$2,085,000
6.5%
$1,925,000
7%
$1,785,000
Alternative Use
Use
Estimation
RETAIL STORES
$2,495,000
Current use
APARTMENT HOUSE (5+ UNITS)
$2,855,000
Change: +14% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$2,475,000
Change: -1% · Conversion: Difficult
Blend value · Realmo final
$1.80M
Range $1.62M – $1.97M · ±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
$233 / 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
$19,611
Tax year 2024
Assessed value
$1,688,332
Assessed 2024
Previous assessed
$1,688,332
+0.0% YoY
Effective rate
1.16%
On assessed value
Assessed land
$311,691
Assessed improvement
$1,376,641
Applied tax rate
52.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
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
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Status
Off-Market
Year built
1976
Construction
TILT-UP CONCRETE
Heating
NONE
Total area
7,700 SF
Lot
0.56 ac (24,474 SF)
Zoning code
CR
APN
062-114-024
UPID
US09-1767674
Jurisdiction
SAN LUIS OBISPO
Zoning & alternative use
CR · Oceano, CA
Zoning CR · permitted uses
CR · Oceano, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Oceano. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$2.5M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.9M
INDUSTRIAL (GENERAL)
Est. value
$2.5M
RETAIL STORES Current
APARTMENT HOUSE (5+ UNITS)
INDUSTRIAL (GENERAL)
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
1976
Construction
TILT-UP CONCRETE
Heating
NONE
Lot
0.56 ac
Current owner
From public records · entity-resolved
Kevin Joseph Koo
Individual
Free & Clear · 4 yrs held
Mailing address
435 THATCHER LN, FOSTER CITY, CA 94404-3954
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 18, 2022
—
Kevin Joseph Koo
Kevin Koo
Intrafamily Transfer
related
—
Mar 4, 2020
—
Kevin Koo
Jeong Family Marital Trust
Quit Claim Deed
related
—
Apr 24, 2018
—
Jeong Family Trust
Jeong Family Trust
Quit Claim Deed
related
—
Oct 14, 2004
—
Jeong Family Trust
Jeong,william Y
Affidavit Of Death
related
—
Oct 30, 1997
—
Jeong Trust
Jeong,william Y & Beatrice S
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.
Try Rey
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