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Property profile & analytics
FOR LEASE
Community centers
285 Madonna Rd San Luis Obispo, CA 93405
Entity Owned
20-yr Hold
~
Est. High Equity
Property ID
US09-2053433
For Lease
1 / 2
Contact for pricing
285 Madonna Rd, San Luis Obispo, CA 93405
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Property profile
Verified
Property type
Community centers
Use group
MINI-MALL
Year built
1985
Construction
WOOD
Total area
8,960 SF
Lot
21.52 ac (937,411 SF)
Zoning code
CR
APN
053-011-029
UPID
US09-2053433
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
-
TD Ameritrade Financial Advisor
-
Sushi Kokku Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$625k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$973k
Blend (final)
Blend
$800k
Owner & transaction history
Kla Slo LLC · 20 yrs held
Kla Slo LLC
since 2006
5 recorded transactions
Zoning & alternative use
CR · San Luis Obispo, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Industrial (general)
$1.2M
+102.8%
Apartment house (5+ units)
$930,000
+52.2%
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 San Luis Obispo submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs San Luis Obispo 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
$625,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$610,000
Current use
INDUSTRIAL (GENERAL)
$1,235,000
Change: +103% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$930,000
Change: +52% · Conversion: Difficult
Blend value · Realmo final
$800k
Range $720k – $880k · ±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
$89 / 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
$347,380
Tax year 2024
Assessed value
$31,432,828
Assessed 2024
Previous assessed
$31,432,828
+0.0% YoY
Effective rate
1.11%
On assessed value
Assessed land
$13,188,598
Assessed improvement
$18,244,230
Applied tax rate
3.0000
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
Community centers
Use group
MINI-MALL
Status
For Lease
Year built
1985
Construction
WOOD
Heating
NONE
Buildings
6
Total area
8,960 SF
Lot
21.52 ac (937,411 SF)
Zoning code
CR
APN
053-011-029
UPID
US09-2053433
Jurisdiction
SAN LUIS OBISPO
Zoning & alternative use
CR · San Luis Obispo, CAZoning CR · permitted uses
CR · San Luis Obispo, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$610,000
INDUSTRIAL (GENERAL)
Est. value
$1.2M
APARTMENT HOUSE (5+ UNITS)
Est. value
$930,000
NEIGHBORHOOD: SHOPPING CENTER Current
INDUSTRIAL (GENERAL)
APARTMENT HOUSE (5+ UNITS)
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
1985
Construction
WOOD
Heating
NONE
Buildings
6
Lot
21.52 ac
Current owner
From public records · entity-resolved
Kla Slo LLC
Entity
Mailing address
PO BOX 24550, COLUMBUS, OH 43224-0550
Ownership since
2006
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 13, 2011
—
Madonna Plaza Srt LP
—
Deed Of Trust
related
$40,000,000 · Rbs Financial Products INC
Jun 27, 2011
—
Madonna Plaza Srt LP
—
Grant Deed
related
$36,000,000 · Huntington National Bank
Oct 10, 2008
—
Mervyns LLC
—
Deed Of Trust
related
$465,000,000 · Wachovia Capital Finance Corp
Mar 21, 2006
—
Kla Slo LLC
Mervyns LLC
Grant Deed
$45,000,000 · Column Financial INC
Feb 18, 2005
—
Mrp Institutional Associates
Gateway Companies INC
Quit Claim Deed
related
—
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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