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Property profile & analytics
OFF-MARKET
Estimated value
$1,000,000
Medical Office Space
303 Halcyon Rd Arroyo Grande, CA 93420-3817
Individually Owned
Absentee Owner
~
Est. High Equity
Property ID
US10-3220286
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1996
Construction
WOOD
Total area
3,427 SF
Lot
0.6 ac (26,136 SF)
Zoning code
RH
APN
006-391-047
UPID
US10-3220286
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$612k
Blend (final)
Blend
$1.00M
Owner & transaction history
Mark Correta
Mark Correta
since 2026
7 recorded transactions
Zoning & alternative use
RH · Arroyo Grande, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
This district is intended as an area for development of low density, large lot, single family detached and small lot single family detached residential dwelling units at a maximum density of one dwelling unit per 1.5 gross acres
Zone name
Residential Hillside
General category
RESIDENTIAL
Zone area
249.25 ac
Source
Realmo
Top alternative use upside
Auto repair, garage
$1.6M
+11.2%
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 Arroyo Grande submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Arroyo Grande 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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$1,410,000
Current use
AUTO REPAIR, GARAGE
$1,565,000
Change: +11% · Conversion: Difficult
OFFICE BUILDING
$1,320,000
Change: -6% · Conversion: Easy
RETAIL STORES
$1,265,000
Change: -10% · Conversion: Difficult
Blend value · Realmo final
$1.00M
Range $900k – $1.10M · ±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
$292 / 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
$11,174
Tax year 2024
Assessed value
$1,059,018
Assessed 2024
Previous assessed
$1,059,018
+0.0% YoY
Effective rate
1.06%
On assessed value
Assessed land
$615,709
Assessed improvement
$443,309
Applied tax rate
1.0000
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1996
Construction
WOOD
Heating
NONE
Rooms
3427
Total area
3,427 SF
Lot
0.6 ac (26,136 SF)
Zoning code
RH
APN
006-391-047
UPID
US10-3220286
Jurisdiction
SAN LUIS OBISPO
Zoning & alternative use
RH · Arroyo Grande, CAZoning RH · permitted uses
RH · Arroyo Grande, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
This district is intended as an area for development of low density, large lot, single family detached and small lot single family detached residential dwelling units at a maximum density of one dwelling unit per 1.5 gross acres
Zone name
Residential Hillside
General category
RESIDENTIAL
Zone area
249.25 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$1.4M
AUTO REPAIR, GARAGE
Est. value
$1.6M
OFFICE BUILDING
Est. value
$1.3M
RETAIL STORES
Est. value
$1.3M
MEDICAL BUILDING Current
AUTO REPAIR, GARAGE
OFFICE BUILDING
RETAIL STORES
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
1996
Construction
WOOD
Heating
NONE
Rooms
3427
Lot
0.6 ac
Current owner
From public records · entity-resolved
Mark Correta
Individual
Mailing address
6617 W JUDY AVE, VISALIA, CA 93277-9288
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2026
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 5, 2026
—
Correia Mark
—
Deed
related
$563,000 · Bank Of The Sierra
Jan 8, 2026
—
Mark Correta
Correia Family Revocable Trust
Deed
related
—
Mar 6, 2012
$860,000
Correia Family Trust
Limberg,michael B
Grant Deed
—
Mar 6, 2012
—
Michael B Limberg
Limberg Family Trust
Quit Claim Deed
related
—
Oct 31, 1997
—
Limberg Trust
Limberg,michael B & Joanna G
Quit Claim Deed
related
—
May 16, 1996
—
Michael B Limberg
Limberg,michael B & Joanna G
Quit Claim Deed
related
$750,000 · Central Coast Development Corp
—
—
Correia Family Trust
—
Deed Of Trust
related
$600,000 · Bank Of The Sierra
—
—
Limberg Trust
—
Deed Of Trust
related
$890,000 · Bank Of America
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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