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Property profile & analytics
FOR LEASE
Strip malls
3220 S Higuera St San Luis Obispo, CA 93401
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US09-1653747
For Lease
1 / 16
$2,090,000
3220 S Higuera St, San Luis Obispo, CA 93401
View Listing →
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1982
Construction
STEEL FRAME
Total area
70,386 SF
Lot
4.03 ac (175,546 SF)
Zoning code
O
APN
053-041-042
UPID
US09-1653747
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
by Request
Blend (final)
Blend
$2.09M
Owner & transaction history
Walter Bros Const Co INC · 6 yrs held
Walter Bros Const Co INC
since 2019
7 recorded transactions
Zoning & alternative use
O · San Luis Obispo, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
vation/Open Space (C/OS) Zone 17.16 Low-Density Residential (R-1) Zone 17.18 Medium-Density Residential (R-2) Zone 17.20 Medium-High Density Residential (R-3) Zone 17.22 High-Density Residential (R-4) Zone 17.24 Office (O) Zone 17.26 Neighborhood Commercial (C-N) Zone 17.28 Community Commercial (C-C) Zone 17.30 Retail Commercial (C-R) Zone 17.32 Downtown Com…
Zone name
Office
General category
COMMERCIAL
Zone area
105.53 ac
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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
$30 / 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
$119,488
Tax year 2024
Assessed value
$10,811,882
Assessed 2024
Previous assessed
$10,811,882
+0.0% YoY
Effective rate
1.11%
On assessed value
Assessed land
$402,613
Assessed improvement
$10,409,269
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
For Lease
Year built
1982
Construction
STEEL FRAME
Heating
NONE
Total area
70,386 SF
Lot
4.03 ac (175,546 SF)
Zoning code
O
APN
053-041-042
UPID
US09-1653747
Jurisdiction
SAN LUIS OBISPO
Zoning & alternative use
O · San Luis Obispo, CAZoning O · permitted uses
O · San Luis Obispo, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
vation/Open Space (C/OS) Zone 17.16 Low-Density Residential (R-1) Zone 17.18 Medium-Density Residential (R-2) Zone 17.20 Medium-High Density Residential (R-3) Zone 17.22 High-Density Residential (R-4) Zone 17.24 Office (O) Zone 17.26 Neighborhood Commercial (C-N) Zone 17.28 Community Commercial (C-C) Zone 17.30 Retail Commercial (C-R) Zone 17.32 Downtown Commercial (C-D) Zone 17.34 Tourist Commercial (C-T) Zone 17.36 Service Commercial (
Zone name
Office
General category
COMMERCIAL
Zone area
105.53 ac
Building & site characteristics
From public records
Year built
1982
Construction
STEEL FRAME
Heating
NONE
Lot
4.03 ac
Current owner
From public records · entity-resolved
Walter Bros Const Co INC
Entity
Mailing address
PO BOX 809, SAN LUIS OBISPO, CA 93406-0809
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 8, 2019
—
Walter Bros Const Co INC
—
Grant Deed
related
$13,000,000 · Mechanics Bk
May 13, 2013
—
Walter Bros Construction Co
—
Loan Modification
related
$15,352,460 · Rabobank
Mar 25, 2008
—
Walters Brothers Const Co INC
—
Deed Of Trust
related
$15,352,460 · Rabobank
Nov 5, 2003
—
Walter Bros Cosntruction Co
—
Deed Of Trust
related
$12,000,000 · Mid-state Bank & Trust Co
Aug 30, 1989
—
Walter Cons
—
Deed Of Trust
related
$8,500,000 · Imperial Bank Mortgage
—
—
Walter Brothers Const Co INC
—
Deed Of Trust
related
$330,500 · Mid State Bank
—
—
Walter Cons
—
Deed Of Trust
related
$8,500,000 · Imperial Bank Mortgage
—
—
Walter Bros Construction Co In
—
Deed Of Trust
related
$8,500,000 · Mid State Bank
—
—
Walter Brothers Const Co INC
—
Deed Of Trust
related
$650,000 · Mid-state Bank & Trust Co
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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