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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    3535 Higuera St San Luis Obispo, CA 93401-7305

    • Retail properties
    • 4,760 SF
    • 0.41 lot acres
    OFF-MARKET
    Last Sale
    Sep 29, 2021
    $750,000
    Value Estimations
    $910,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-0600883
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Lesco Engines / Engine Rebuilding Service / Auto Machine Shop
    • SLO Cal Roots / Cannabis Store

    Property Details for 3535 Higuera St

    Year built
    1986
    Construction
    TILT-UP CONCRETE
    Lot size
    0.41 lot acres
    Property size
    4,760 SF
    Zone code
    CS
    Property type
    Retail properties
    APN
    053-256-007
    APU
    53256007

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $865,000
      ML approach
      $970,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,212,000
      Market price range: $299k - $1.58M

    • Alternative Use

      Use
      Estimation
      SERVICE SHOP (TV, RADIO, ELECTRIC, PLUMBING)
      $1,430,000
      Current use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    San Luis Obispo
    County
    San Luis Obispo
    State
    California
    Longitude
    -120.669
    Latitude
    35.2525
    CBSA code
    42020
    CBSA name
    SAN LUIS OBISPO-PASO ROBLES, CA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $13,293
    $575,411
    $627,431
    $1,202,842
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $2,800,000
      12,577 SF

      189 Cross St Ste, Unit 110

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 12,577 SF
      189 Cross St Ste, San Luis Obispo, CA 93401-1112
      View Details
    • Value Estimation
      $2,490,000
      23,895 SF

      4540 Broad St Ste, Unit 110

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 23,895 SF
      4540 Broad St Ste, San Luis Obispo, CA 93401-8729
      View Details
    • Value Estimation
      $1,570,000
      9,572 SF

      3474 Empresa Dr Ste, Unit 110

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 9,572 SF
      3474 Empresa Dr Ste, San Luis Obispo, CA 93401-7391
      View Details
    • Value Estimation
      $1,035,000
      3,290 SF

      3583 Higuera St, Unit 2

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 3,290 SF
      3583 Higuera St, San Luis Obispo, CA 93401-7339
      View Details
    • Value Estimation
      $1,805,000
      9,200 SF

      4120 Horizon Ln

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 9,200 SF
      4120 Horizon Ln, San Luis Obispo, CA 93401-7500
      View Details
    • Value Estimation
      $1,370,000
      13,112 SF

      850 Fiero Ln

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 13,112 SF
      850 Fiero Ln, San Luis Obispo, CA 93401-8399
      View Details

    Similar Nearby for Sale

    • $399,000
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      San Luis Obispo Retail Trio

      Three modern suites, prime location
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      San Luis Obispo Leased Investment

      34,427 SF commercial property in active commercial corridor.
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      San Luis Obispo Historic Corner

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      Profitable Laundromat Business Opportunity

      Established laundromat business with growth potential in prime location.
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      San Luis Obispo Commercial Condo

      Commercial condo with outdoor patio, ideal for restaurant/café.
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    • $275,000
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      Turnkey Restaurant and Bar Opportunity

      Fully equipped restaurant and bar in downtown San Luis Obispo.
      1131 Broad St, San Luis Obispo, CA 93401
      View Details

    Similar Nearby for Lease

    • $2,600 /Mo
      670 SF

      Retail Space Available For Rent

      Retail space available for rent, includes fixtures and furniture.
      3594 Broad St, San Luis Obispo, CA 93401
      View Details
    • Contact for pricing
      2,124 SF

      Retail Space in San Luis Obispo

      Grocery-anchored retail space available for lease in San Luis Obispo.
      3840 Broad St, San Luis Obispo, CA 93401
      View Details
    • Contact for pricing

      Retail Space Near Downtown

      Retail space with high visibility and ample parking.
      1251 Johnson Ave, San Luis Obispo, CA 93401
      View Details
    • Contact for pricing
      8,100 SF

      Retail Space in Anchored Center

      Grocery-anchored retail space in East San Luis Obispo available for lease.
      3860 Broad St, San Luis Obispo, CA 93401
      View Details
    • Contact for pricing
      2,381 SF

      Retail Space in San Luis Obispo

      Grocery-anchored retail space available for lease in San Luis Obispo.
      3830 Broad St, San Luis Obispo, CA 93401
      View Details
    • Contact for pricing
      2,130 SF

      Prime Monterey Street Commercial Space

      Versatile commercial space in a central business district location.
      1413 Monterey St, San Luis Obispo, CA 93401
      View Details
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    San Luis Obispo, CA 93401-7305
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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