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Property profile & analytics
OFF-MARKET
Estimated value
$2,210,000
Motels
290 Atascadero Rd Morro Bay, CA 93442-1517
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US10-3163368
Property summary
AI-generated overview
This exceptional 34-key hotel, the Morro Shores Inn, presents a lucrative investment opportunity in the desirable coastal city of Morro Bay, California. Situated on a 0.69-acre lot at 290 Atascadero Rd, 93442, this two-story, 14,867 square-foot property boasts a prime location within San Luis Obispo County. Built in 2007 and renovated in 2020, the hotel offers a turnkey operation with a strong pro-forma NOI of $389,871 and a 5.65% pro-forma cap rate. The asking price is $6,900,000, translating to $464.12 per square foot and $202,941.18 per key. The property's APN is 066-332-011. This well-positioned hotel benefits from the thriving tourism in the area and presents a compelling opportunity for investors seeking a stable and profitable hospitality asset in a highly sought-after coastal location. The single building offers significant potential for continued growth and profitability. Serious inquiries only.
Property profile
Verified
Property type
Motels
Use group
MOTEL
Year built
2007
Construction
WOOD
Total area
14,867 SF
Lot
0.69 ac (30,000 SF)
Zoning code
VCS
APN
066-332-011
UPID
US10-3163368
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
-
Morro Shores Inn & Suites Hotel & Motel
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.07M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.21M
Owner & transaction history
Morro Shore Hospitality INC · 6 yrs held
Morro Shore Hospitality INC
since 2020
7 recorded transactions
Zoning & alternative use
VCS · 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%
$2,235,000
6.5%
$2,065,000
7%
$1,920,000
Blend value · Realmo final
$2.21M
Range $1.99M – $2.43M · ±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
$149 / 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
$69,441
Tax year 2024
Assessed value
$4,062,991
Assessed 2024
Previous assessed
$4,062,991
+0.0% YoY
Effective rate
1.71%
On assessed value
Assessed land
$1,412,142
Assessed improvement
$2,650,849
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
2007
Construction
WOOD
Heating
NONE
Total area
14,867 SF
Lot
0.69 ac (30,000 SF)
Zoning code
VCS
APN
066-332-011
UPID
US10-3163368
Jurisdiction
SAN LUIS OBISPO
Zoning & alternative use
VCS · Morro Bay, CA
Zoning VCS · permitted uses
VCS · 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
2007
Construction
WOOD
Heating
NONE
Lot
0.69 ac
Current owner
From public records · entity-resolved
Morro Shore Hospitality INC
Entity
Mailing address
290 ATASCADERO RD, MORRO BAY, CA 93442-1517
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
12 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 9, 2025
—
Morro Shore Hospitality INC
—
Deed
related
$2,539,600 · Sesloc FCU
Mar 5, 2020
—
Morro Shore Hospitality INC
Morro Shore Hospitality INC
Intrafamily Transfer
related
$2,800,000 · Sunwest Bank
Apr 4, 2014
—
Nj Properties INC
Bharatkumar R Patel
Grant Deed
$2,600,000 · Technology Cu
Oct 17, 2005
—
Bharatkumar R Patel
—
Grant Deed
related
$2,197,500 · Heritage Oaks Bank
Apr 10, 2003
$430,000
Bharatkumar R Patel
Rock N International INC
Grant Deed
$230,000 · Rock N International INC
Dec 4, 1996
—
Brajkovich Trust
Brajkovich,thomas G
Quit Claim Deed
related
—
Apr 5, 1995
—
Thomas G Brajkovich
Brajkovich,thomas G & Wendy R
Quit Claim Deed
related
—
Dec 7, 1993
—
Brajkovich Trust
Brajkovich,thoma
Quit Claim Deed
related
—
May 6, 1993
$183,502
Lester P Agoure
Sexton,james C
Trustees Deed
related
—
—
—
Rock N Burgers International
—
Deed Of Trust
related
$125,000 · San Luis Trust Bank
—
—
Bharatkumar R Patel
—
Deed Of Trust
related
$400,000 · Heritage Oaks Bank
—
—
Rock N Burgers Intl INC
—
Deed Of Trust
related
$4,500 · Rebecca A Rogers
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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