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Property profile & analytics
OFF-MARKET
Estimated value
$805,000
Motels
2460 Main St Morro Bay, CA 93442-1552
Entity Owned
8-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US10-3284087
Property profile
Verified
Property type
Motels
Use group
MOTEL
Year built
1959
Construction
WOOD
Total area
7,279 SF
Lot
1.12 ac (48,787 SF)
Zoning code
CT
APN
068-201-004
UPID
US10-3284087
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
-
Best Western El Rancho Hotel & Motel
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.01M
Comparable Approach
Comparable
$1.04M
Blend (final)
Blend
$805k
Owner & transaction history
Twins Bay INC · 8 yrs held
Twins Bay INC
since 2017
7 recorded transactions
Zoning & alternative use
CT · Morro Bay, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$1,095,000
6.5%
$1,010,000
7%
$940,000
Blend value · Realmo final
$805k
Range $725k – $886k · ±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
$111 / 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
$38,138
Tax year 2024
Assessed value
$3,450,976
Assessed 2024
Previous assessed
$3,450,976
+0.0% YoY
Effective rate
1.11%
On assessed value
Assessed land
$1,896,380
Assessed improvement
$1,554,596
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
1959
Construction
WOOD
Heating
NONE
Total area
7,279 SF
Lot
1.12 ac (48,787 SF)
Zoning code
CT
APN
068-201-004
UPID
US10-3284087
Jurisdiction
SAN LUIS OBISPO
Zoning & alternative use
CT · Morro Bay, CA
Zoning CT · permitted uses
CT · 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.
Building & site characteristics
From public records
Year built
1959
Construction
WOOD
Heating
NONE
Lot
1.12 ac
Current owner
From public records · entity-resolved
Twins Bay INC
Entity
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
17 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 16, 2017
$3,725,000
Twins Bay INC
Salinas Hotel Corp
Grant Deed
$1,862,500 · Coasthills Cu
Sep 17, 2015
$3,000,000
Salinas Hotel Corporation
David J Norris
Grant Deed
$1,500,000 · Coasthills Cu
Jul 26, 2013
—
Norris Survivors Trust
Norris Jesse & June Trust
Quit Claim Deed
related
$1,536,000 · Heritage Oaks Bank
Aug 6, 2010
—
Norris Jesse & June Trust
Amitage Corp
Grant Deed
$1,650,000 · Coast National Bank
Oct 24, 2003
—
Amitage Corp
—
Deed Of Trust
related
$1,582,000 · Coast National Bank
Jul 30, 2003
$2,260,000
Amitage Corp
Norris,tr
Grant Deed
$1,582,000 · Coast National Bank
Oct 31, 2001
—
Norris Trust
Norris,jesse E & June A
Quit Claim Deed
related
—
Jun 8, 1998
$75,000
Jesse Norris
Norris,susie
Grant Deed
related
—
Sep 27, 1993
—
Jesse E Norris
Kissinger,russel
Grant Deed
related
—
—
—
Salinas Hotel Corp
—
Deed Of Trust
related
$1,500,000 · Coast Hills FCU
—
—
Coastal Busn Fin
—
Deed Of Trust
related
$1,500,000 · Coast Hills FCU
—
—
Amitage Corp
—
Deed Of Trust
related
$125,000 · Coast National Bank
—
—
Amitage Corp
—
Deed Of Trust
related
$100,000 · Coast National Bank
—
—
Twins Bay INC
—
Deed Of Trust
related
$954,000 · Coastal Busn Fin
—
—
Amitage Corp
—
Deed Of Trust
related
$1,650,000 · Coast National Bank
—
—
Amitage Corp
—
Deed Of Trust
related
$135,000 · Coast National Bank
—
—
Jesse Norris
—
Deed Of Trust
related
$975,000 · Coast National 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.
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