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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2651 Price St Pismo Beach, CA 93449-2100

    • Motels
    • 22,200 SF
    • 3.72 lot acres
    OFF-MARKET
    Last Sale
    Dec 28, 2022
    $17,400,000
    Value Estimations
    $13,845,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-1342916
    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

    • Inn at the Cove / Hotel
    • Dinosaur Caves / Historical Landmark
    • ChargePoint Charging Station / Electric Vehicle Charging Station

    Property Details for 2651 Price St

    Year built
    1986
    Construction
    WOOD
    Lot size
    3.72 lot acres
    Property size
    22,200 SF
    Zone code
    CRS
    Property type
    Motels
    APN
    005-251-009
    APU
    5251009

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $13,005,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $18,401,000
      Market price range: $6.08M - $18.4M
      AI Estimate
      $9,600,000
      Market price range: $1.33M - $10.8M

    • Alternative Use

      Use
      Estimation
      HOTEL/MOTEL
      $12,195,000
      Current use
      RESTAURANT
      $11,160,000
      Change: -8% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $11,055,000
      Change: -9% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $10,145,000
      Change: -17% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Pismo Beach
    County
    San Luis Obispo
    State
    California
    Longitude
    -120.661
    Latitude
    35.1525
    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
    $200,268
    $8,577,615
    $9,807,940
    $18,385,555
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      600 SF

      230 Dolliver St

      MOTEL • 600 SF
      230 Dolliver St, Pismo Beach, CA 93449-2664
      View Details
    • Value Estimation
      $1,170,000
      8,285 SF

      390 Ocean Vw Ave

      MOTEL • 8,285 SF
      390 Ocean Vw Ave, Pismo Beach, CA 93449-2516
      View Details
    • Value Estimation
      $2,485,000
      17,984 SF

      230 Pomeroy Ave

      MOTEL • 17,984 SF
      230 Pomeroy Ave, Pismo Beach, CA 93449-2642
      View Details
    • Value Estimation
      $4,545,000
      6,361 SF

      2121 Price St

      MOTEL • 6,361 SF
      2121 Price St, Pismo Beach, CA 93449-2107
      View Details
    • Value Estimation
      $5,800,000
      12,144 SF

      701 Price St

      MOTEL • 12,144 SF
      701 Price St, Pismo Beach, CA 93449-2529
      View Details
    • Value Estimation
      $1,090,000
      7,436 SF

      490 Dolliver St

      MOTEL • 7,436 SF
      490 Dolliver St, Pismo Beach, CA 93449-2617
      View Details

    Similar Nearby for Sale

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      Pismo Beach Specialty Property

      Specialty property available for sale in Pismo Beach.
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    • $1,525,000

      Land For Sale

      Land available for sale.
      178 Cliff Ave, Pismo Beach, CA 93449
      View Details
    • $179,000
      13,280.00 Acres

      Pismo Beach Land with Views

      Vacant lot with views in Pismo Beach, California.
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    • $535,000

      Furnished Home Near Beach and Pier

      Furnished 3-bed, 2-bath home near the beach and pier.
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    • $539,000

      Senior Mobile Home in Pismo

      Well-maintained 3-bedroom home near the beach in Pismo Beach.
      140 S Dolliver St, Pismo Beach, CA 93449
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    • $2,999,000

      Pismo Beach Mixed-Use Development Site

      Prime Pismo Beach location for mixed-use development.
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    Similar Nearby for Lease

    • Contact for pricing
      1,250 SF

      Class A Office Space Available

      Premier Pismo Beach office park with highway visibility, for lease.
      300 James Way, Pismo Beach, CA 93449
      View Details
    • Contact for pricing
      619 SF

      Pismo Beach Class A Office

      Class A office space available for lease in Pismo Beach.
      330 James Way, Pismo Beach, CA 93449
      View Details
    • Contact for pricing
      1,250 SF

      Class A Office Space Available

      Premier Pismo Beach office park with highway visibility, for lease.
      310 James Way, Pismo Beach, CA 93449
      View Details
    • Contact for pricing
      533 SF

      Class A Medical Office Space

      Premier medical office park with highway visibility in Pismo Beach.
      2 James Way, Pismo Beach, CA 93449
      View Details
    • Contact for pricing
      1,240 SF

      Class A Medical Office Space

      Premier medical office park with highway visibility in Pismo Beach.
      2 James Way, Pismo Beach, CA 93449
      View Details
    • Contact for pricing
      10,000 SF

      Prime Retail Space Available

      10,000 SF retail space with drive-thru potential.
      333 Five Cities Dr, Pismo Beach, CA 93449
      View Details
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    2651 Price St
    Pismo Beach, CA 93449-2100
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    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
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