Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    235 Hbr St Morro Bay, CA 93442-2107
    Back to Search
    Property profile & analytics

    235 Hbr St, Morro Bay, CA 93442-2107

    View on Map
    • Motels
    • 3,403 SF
    • 0.17 lot acres
    Off-Market
    Last Sale Nov 19, 2021
    $2,240,000
    Property ID
    US10-3190433
    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
    $2,475,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Pleasant Inn / Hotel & Motel

    Property Details for 235 Hbr St

    Year built
    1954
    Construction
    WOOD
    Lot size
    0.17 lot acres
    Zone code
    40
    Property type
    Motels
    APN
    066-053-007
    APU
    66053007

    Sales History

    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 $1.9M · Pinnacle Bank
    Jul 31, 2017 $2,300,000 Pi Morro Bay LLC Debut Investments LLC Grant Deed $1.6M · Orbis Lending Fund IV LP
    Jun 5, 2015 $1,650,000 Debut Investments LLC Capci Family Partnership LP Grant Deed $1.4M · 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 $100k · Betty R Wenger
    Jan 31, 1996 $325,000 Betty R Wenger Schwanbeck Trust Grant Deed · related $300k · Goleta National Bank
    — — Betty R Wenger — Deed Of Trust · related $45k · Ballard Robinson & Walker Psp
    — — Betty R Wenger — Deed Of Trust · related $405k · Mid State Bank

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,570,000
      ML approach
      $2,495,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,820,000
      Market price range: $933k - $2.82M

    • 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

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

    Location Insight

    • Map
    • Local Demand
    City
    Morro Bay
    County
    San Luis Obispo
    State
    California
    Longitude
    -120.852
    Latitude
    35.3671
    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
    $25,731
    $1,300,500
    $1,027,774
    $2,328,274
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $1,265,000
      10,219 SF

      851 Market Ave

      MOTEL
      851 Market Ave, Morro Bay, CA 93442-2123
      View Details
    • Value Estimation
      $1,210,000
      9,561 SF

      730 Morro Ave

      MOTEL
      730 Morro Ave, Morro Bay, CA 93442-2134
      View Details
    • Value Estimation by Request
      1,748 SF

      2460 Main St

      MOTEL
      2460 Main St, Morro Bay, CA 93442-1552
      View Details
    • Value Estimation
      $1,285,000
      9,160 SF

      845 Morro Ave

      MOTEL
      845 Morro Ave, Morro Bay, CA 93442-2135
      View Details
    • Value Estimation by Request
      0.22 Acres

      1100 Main St

      MOTEL
      1100 Main St, Morro Bay, CA 93442-2006
      View Details
    • Value Estimation by Request
      2,360 SF

      2630 Main St

      MOTEL
      2630 Main St, Morro Bay, CA 93442-1554
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      10,586 SF

      Morro Bay Hospitality Property

      29-room hospitality property on 1.3 acres in Morro Bay.
      2460 Main St, Morro Bay, CA 93442
      View Details
    • Contact for pricing

      Morro Bay Boutique Hotel Opportunity

      Boutique hotel with ocean views and expansion potential.
      1050 Morro Ave, Morro Bay, CA 93442
      View Details
    • Contact for pricing

      Bay View Inn, Morro Bay

      23-room coastal property near harbor and Embarcadero.
      225 Harbor St, Morro Bay, CA 93442
      View Details
    • $1,920,000

      Quintana Road Commercial Property

      Freestanding commercial building with high visibility and ample parking.
      850 Quintana Rd, Morro Bay, CA 93442
      View Details
    • Contact for pricing

      Bay Pine Mobile Home

      Relaxing retreat in a peaceful 55+ community.
      1537 White Pne Dr #48, Morro Bay, CA 93442
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Prime Commercial Land in Morro Bay

      1.63-acre commercial land for lease near Highway 1.
      298 Atascadero Rd, Morro Bay, CA 93442
      View Details
    • Contact for pricing
      1,200 SF

      Retail Space in Morro Bay

      Retail space available for lease in Morro Bay, CA.
      490 Quintana Rd, Morro Bay, CA 93442
      View Details
    • Contact for pricing

      Prime Commercial Land Near Highway 1

      1.63-acre commercial land for lease near Highway 1.
      298 Atascadero Rd, Morro Bay, CA 93442
      View Details
    • Contact for pricing
      1,600 SF

      Professional Office Suite in Morro

      Move-in ready office suite in the heart of Morro Bay.
      610-680 Quintana Rd, Morro Bay, CA 93442
      View Details
    • Contact for pricing

      Morro Bay Retail/Office Space

      Highly visible retail/office space with ample parking in Morro Bay.
      400 Quintana Rd, Morro Bay, CA 93442
      View Details
    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.
    235 Hbr St
    Morro Bay, CA 93442-2107
    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

    Thank You for Inquiry
    235 Hbr St, Morro Bay, CA, 93442
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!