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Property profile & analytics
OFF-MARKET
Estimated value
$700,000
Turn key restaurants
2848 Main St Morro Bay, CA 93442-1512
Individually Owned
1-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-1556665
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1953
Construction
WOOD
Total area
2,062 SF
Lot
0.2 ac (8,712 SF)
Zoning code
C1N
APN
068-211-016
UPID
US09-1556665
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
-
Lolo's Mexican Restaurant Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$700k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$533k
Blend (final)
Blend
$700k
Owner & transaction history
Maria De Jesus Antonio · 1 yrs held
Maria De Jesus Antonio
since 2024
Last sale
$700,000
7 recorded transactions
Zoning & alternative use
C1N · Morro Bay, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.1M
+4.0%
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
$700,000
ML approach
$700,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$1,035,000
Current use
COMMERCIAL (GENERAL)
$1,080,000
Change: +4% · Conversion: Easy
AUTO REPAIR, GARAGE
$940,000
Change: -9% · Conversion: Difficult
MEDICAL BUILDING
$845,000
Change: -18% · Conversion: Difficult
Blend value · Realmo final
$700k
Range $630k – $770k · ±10% · vs last sale $700k (Oct 25 2024)
Last sale anchor
$700k
Oct 25 2024
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
$339 / 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
$2,939
Tax year 2024
Assessed value
$265,963
Assessed 2024
Previous assessed
$265,963
+0.0% YoY
Effective rate
1.11%
On assessed value
Assessed land
$162,066
Assessed improvement
$103,897
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
1953
Construction
WOOD
Heating
NONE
Rooms
1
Bathrooms
3
Total area
2,062 SF
Lot
0.2 ac (8,712 SF)
Zoning code
C1N
APN
068-211-016
UPID
US09-1556665
Jurisdiction
SAN LUIS OBISPO
Zoning & alternative use
C1N · Morro Bay, CA
Zoning C1N · permitted uses
C1N · 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
RESTAURANT Current
Est. value
$1.0M
COMMERCIAL (GENERAL)
Est. value
$1.1M
AUTO REPAIR, GARAGE
Est. value
$940,000
MEDICAL BUILDING
Est. value
$845,000
RESTAURANT Current
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
MEDICAL BUILDING
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
1953
Construction
WOOD
Heating
NONE
Rooms
1
Bathrooms
3
Lot
0.2 ac
Current owner
From public records · entity-resolved
Maria De Jesus Antonio
Individual
Mailing address
2228 EMERALD CIR, MORRO BAY, CA 93442-1587
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 25, 2024
—
Maria De Jesus Antonio
Francisco Antonio Miguel
Deed
related
—
Oct 25, 2024
$700,000
Maria De Jesus Antonio
Nicolas A Mendoza
Grant Deed
$350,000 · Cathy Garcia Etux
Feb 27, 2015
—
Mendoza Trust
Mendoza Trust
Quit Claim Deed
related
$350,000 · Community Bk/santa Maria
Sep 20, 2012
—
Mendoza Trust
Mendoza,nicolas A
Quit Claim Deed
related
—
Aug 27, 2012
—
Nicolas A Mendoza
Mendoza Family Trust
Quit Claim Deed
related
—
Apr 12, 1999
—
Mendoza Trust
Mendoza,nicholas A & Becky R
Quit Claim Deed
related
—
—
—
Mendoza Trust
—
Deed Of Trust
related
$235,000 · First Bank San Luis Obispo
—
—
Mendoza Family Trust
—
Deed Of Trust
related
$325,000 · Heritage Oaks Bank
—
—
Mendoza,tr
—
Deed Of Trust
related
$95,662 · First Bank San Luis Obispo
—
—
Mendoza,tr
—
Deed Of Trust
related
$231,000 · First Bank San Luis Obispo
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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