Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    251 16th St Grover Beach, CA 93433-4222

    • Apartment buildings
    • 0.21 lot acres
    OFF-MARKET
    Last Sale
    Mar 16, 2022
    $1,550,000
    Value Estimations
    $1,160,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-1986535
    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.

    Current Use by Public Records

    • Apartment buildings

    Property Details for 251 16th St

    Lot size
    0.21 lot acres
    Zone code
    R-3
    Property type
    Apartment buildings
    APN
    060-661-032
    APU
    60661032

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,160,000
      ML approach
      $1,305,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Grover Beach
    County
    San Luis Obispo
    State
    California
    Longitude
    -120.611
    Latitude
    35.1194
    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
    $20,102
    $884,340
    $871,080
    $1,755,420
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $355,000
      5,236 SF

      875 Longbranch Ave

      APARTMENT HOUSE (5+ UNITS) • 5,236 SF
      875 Longbranch Ave, Grover Beach, CA 93433-2442
      View Details
    • Value Estimation
      $355,000
      6,142 SF

      1471 Ramona Ave

      APARTMENT HOUSE (5+ UNITS) • 6,142 SF
      1471 Ramona Ave, Grover Beach, CA 93433-3301
      View Details
    • Value Estimation
      $370,000
      1,863 SF

      961 13th St

      APARTMENT HOUSE (5+ UNITS) • 1,863 SF
      961 13th St, Grover Beach, CA 93433-3830
      View Details
    • Value Estimation
      $310,000
      3,104 SF

      1489 Brighton Ave

      APARTMENT HOUSE (5+ UNITS) • 3,104 SF
      1489 Brighton Ave, Grover Beach, CA 93433-1834
      View Details
    • Value Estimation
      $320,000
      1,600 SF

      189 2nd St

      APARTMENT HOUSE (5+ UNITS) • 1,600 SF
      189 2nd St, Grover Beach, CA 93433-1956
      View Details
    • Value Estimation
      $350,000
      3,600 SF

      154 7th St

      APARTMENT HOUSE (5+ UNITS) • 3,600 SF
      154 7th St, Grover Beach, CA 93433-2052
      View Details

    Similar Nearby for Sale

    • $994,000
      1,794 SF

      Updated Grover Beach Income Property

      R-3 zoned property with two updated units and potential for third.
      241 S 10Th St, Grover Beach, CA 93433
      View Details
    • $799,999
      Pending

      Grover Beach Duplex Investment Opportunity

      Duplex in prime location with income and long-term potential.
      560 S 12Th St, Grover Beach, CA 93433
      View Details
    • $595,000
      Pending

      Mixed-Use Property in Grover Beach

      Unique property combining residential and commercial spaces in Grover Beach.
      166 S 10Th St, Grover Beach, CA 93433
      View Details
    • $345,000
      13,503.00 Acres

      Expansive Homesite with Sweeping Views

      Large homesite in North Grover with views and coastal access.
      1032 Margarita Ave, Grover Beach, CA 93433
      View Details
    • $1,095,000

      Grover Beach Mixed-Use Redevelopment Opportunity

      Two parcels totaling 11,326 SF in Grover Beach.
      294 N 4Th St, Grover Beach, CA 93433
      View Details
    • $5,000,000
      17,985 SF

      New Industrial Building For Sale

      New industrial building with high power, completion expected Summer 2024.
      928 Huston St, Grover Beach, CA 93433
      View Details

    Similar Nearby for Lease

    • $2.00 SF/Yr
      1,569 SF

      Arroyo Grande Retail/Office Space

      Retail/office space available in Arroyo Grande, close to Highway 101.
      618-624 E Grand Ave, Arroyo Grande, CA 93433
      View Details
    • $1.00 SF/Yr
      7,260 SF

      Grover Beach Industrial/Office Space

      Industrial and office space available for lease in Grover Beach.
      390 Manhattan Ave, Grover Beach, CA 93433
      View Details
    • Contact for pricing
      23,959 SF

      Gateway Plaza: Executive Suites

      Prime San Luis Obispo location; 3 suites available.
      1800 Grand Ave, Grover Beach, CA 93433
      View Details
    • $2,100,000
      3,518 SF

      Retail Space in Arroyo Grande

      Retail space in Arroyo Grande's premier commercial corridor.
      1375 E Grand Ave, Arroyo Grande, CA 93433
      View Details
    • Contact for pricing
      2,865 SF

      Grover Beach Commercial Lease Opportunity

      New commercial condos available for lease in Grover Beach, CA.
      401 W Grand Ave, Grover Beach, CA 93433
      View Details
    • Contact for pricing
      1,830 SF

      Commercial Space in Grover Beach

      New commercial condos available for lease in Grover Beach, CA.
      401 W Grand Ave, Grover Beach, CA 93433
      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.
    251 16th St
    Grover Beach, CA 93433-4222
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.