Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$2,475,000
Motels
235 Hbr St Morro Bay, CA 93442-2107
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US10-3190433
Property profile
Verified
Property type
Motels
Use group
MOTEL
Year built
1954
Construction
WOOD
Total area
3,403 SF
Lot
0.17 ac (7,260 SF)
Zoning code
40
APN
066-053-007
UPID
US10-3190433
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
-
Pleasant Inn Hotel & Motel
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.50M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.82M
Blend (final)
Blend
$2.48M
Owner & transaction history
S&k Property Enterprises LLC · 4 yrs held
S&k Property Enterprises LLC
since 2021
Last sale
$2.2M
7 recorded transactions
Zoning & alternative use
40 · Morro Bay, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$2.4M
+28.3%
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 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
$2,570,000
ML approach
$2,495,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
HOTEL/MOTEL
$1,870,000
Current use
OFFICE BUILDING
$2,400,000
Change: +28% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,780,000
Change: -5% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,555,000
Change: -17% · Conversion: Difficult
Blend value · Realmo final
$2.48M
Range $2.23M – $2.72M · ±10% · vs last sale $2.24M (Nov 19 2021)
Last sale anchor
$2.24M
Nov 19 2021
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
$727 / 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
$25,731
Tax year 2024
Assessed value
$2,328,274
Assessed 2024
Previous assessed
$2,328,274
+0.0% YoY
Effective rate
1.11%
On assessed value
Assessed land
$1,300,500
Assessed improvement
$1,027,774
Applied tax rate
6.0000
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
Motels
Use group
MOTEL
Status
Off-Market
Year built
1954
Construction
WOOD
Heating
NONE
Rooms
20
Bathrooms
11
Total area
3,403 SF
Lot
0.17 ac (7,260 SF)
Zoning code
40
APN
066-053-007
UPID
US10-3190433
Jurisdiction
SAN LUIS OBISPO
Zoning & alternative use
40 · Morro Bay, CA
Zoning 40 · permitted uses
40 · 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
HOTEL/MOTEL Current
Est. value
$1.9M
OFFICE BUILDING
Est. value
$2.4M
COMMERCIAL (GENERAL)
Est. value
$1.8M
AUTO REPAIR, GARAGE
Est. value
$1.6M
HOTEL/MOTEL Current
OFFICE BUILDING
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
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
1954
Construction
WOOD
Heating
NONE
Rooms
20
Bathrooms
11
Lot
0.17 ac
Current owner
From public records · entity-resolved
S&k Property Enterprises LLC
Entity
Mailing address
235 HBR ST, MORRO BAY, CA 93442-2107
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2021
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
Nov 19, 2021
$2,240,000
S&k Property Enterprises LLC
Pi Morro Bay LLC
Grant Deed
—
Jun 29, 2018
—
Pl Morro Bay LLC
—
Deed
related
$1,900,000 · Pinnacle Bank
Jul 31, 2017
$2,300,000
Pi Morro Bay LLC
Debut Investments LLC
Grant Deed
$1,610,000 · Orbis Lending Fund IV LP
Jun 5, 2015
$1,650,000
Debut Investments LLC
Capci Family Partnership LP
Grant Deed
$1,400,000 · Focus Busn Bk
Jan 15, 2013
$950,000
Capci Family Partnership LP
Ray Paul S & L Family Trust
Grant Deed
—
Mar 4, 2005
$1,200,000
Ray Paul S & Lorraine Trust
Wenger,betty R
Grant Deed
$100,000 · Betty R Wenger
Jan 31, 1996
$325,000
Betty R Wenger
Schwanbeck Trust
Grant Deed
related
$300,000 · Goleta National Bank
—
—
Betty R Wenger
—
Deed Of Trust
related
$45,000 · Ballard Robinson & Walker Psp
—
—
Betty R Wenger
—
Deed Of Trust
related
$405,000 · Mid State Bank
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 235 Hbr St?
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.
