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    Property profile & analytics

    368 Pier Ave Oceano, CA 93445-9701

    • Retail space
    • 1,050 SF
    • 0.06 lot acres
    OFF-MARKET
    Value Estimations
    $315,000
    Show details
    Cap Rate Potential
    5.9%
    Retail space
    Location Intelligence
    Property ID
    US09-2294746
    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

    • Sand lot Beach Stop / Gift Shop

    Property Details for 368 Pier Ave

    Year built
    1977
    Construction
    TILT-UP CONCRETE
    Lot size
    0.06 lot acres
    Property size
    1,050 SF
    Zone code
    CR
    Property type
    Retail space
    APN
    061-012-013
    APU
    61012013

    Description

    This exceptional 1,050 square foot retail property at 368 Pier Avenue in Oceano, California, presents a rare opportunity for business owners seeking a high-visibility location. Situated just half a block from the beach and conveniently close to the Oceano Dunes vehicle ramp, this property benefits from consistent high foot traffic throughout the year, driven by both local residents and the substantial tourist population. The building features attractive skylights, providing ample natural light, and a recently paved parking entrance for convenient customer access. A sizable rear storage room offers additional space for inventory or equipment. The 0.06-acre lot provides ample space for outdoor seating or displays, further enhancing the property's appeal. The asking price is $600,000. This property is ideally suited for a variety of retail businesses seeking to capitalize on the vibrant Oceano beachfront community. Its prime location and attractive features make it an exceptional investment opportunity. The combination of high visibility, convenient access, and ample storage makes this a truly unique offering in a highly desirable coastal location. Don't miss this chance to secure a thriving business in a bustling tourist area.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $290,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $285,000
      6.5%
      $260,000
      7%
      $245,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $426,000
      Market price range: $203k - $519k
      AI Estimate
      $225,000
      Market price range: $76.6k - $288k

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $340,000
      Current use
      AUTO REPAIR, GARAGE
      $480,000
      Change: +41% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $475,000
      Change: +40% Conversion: Easy
      MEDICAL BUILDING
      $430,000
      Change: +27% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Oceano
    County
    San Luis Obispo
    State
    California
    Longitude
    -120.629
    Latitude
    35.1056
    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
    $3,798
    $125,158
    $193,428
    $318,586
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $320,000
      676 SF

      1940 Cienaga St

      RETAIL STORES (PERSONAL SERVICES) • 676 SF
      1940 Cienaga St, Oceano, CA 93445-9028
      View Details
    • Value Estimation
      $300,000
      1,800 SF

      393 Pier Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,800 SF
      393 Pier Ave, Oceano, CA 93445-9702
      View Details
    • Value Estimation
      $610,000
      512 SF

      324 Pier Ave

      RETAIL STORES (PERSONAL SERVICES) • 512 SF
      324 Pier Ave, Oceano, CA 93445-9730
      View Details
    • Value Estimation
      $125,000
      993 SF

      311 Pier Ave

      RETAIL STORES (PERSONAL SERVICES) • 993 SF
      311 Pier Ave, Oceano, CA 93445-9729
      View Details
    • Value Estimation
      $190,000
      774 SF

      560 Air Park Dra

      RETAIL STORES (PERSONAL SERVICES) • 774 SF
      560 Air Park Dra, Oceano, CA 93445-9618
      View Details
    • Value Estimation
      $295,000
      1.13 Acres

      3120 Cienaga St

      RETAIL STORES (PERSONAL SERVICES) • 1.13 Acres
      3120 Cienaga St, Oceano, CA 93445
      View Details

    Similar Nearby for Sale

    • $825,000
      1,755 SF

      Oceano Duplex with Garage

      Well-maintained duplex in Oceano with in-unit laundry and garages.
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    • $799,000

      Oceano Specialty Property For Sale

      Specialty property available for purchase in Oceano, California.
      1401 21St St, Oceano, CA 93445
      View Details
    • $299,000

      Oceano Commercial Retail Corner Lot

      Commercial retail lot near Oceano Dunes with mixed-use potential.
      320 Pier Ave, Oceano, CA 93445
      View Details
    • $499,000

      Beachfront Lot for Mixed Use

      Beachfront lot suitable for business and residential use.
      370 Pier Ave, Oceano, CA 93445
      View Details
    • $415,000
      6,970.00 Acres

      Corner Lot Near Oceano Dunes

      Commercial residential zoned lot near Oceano State Dunes and beach.
      1515 Ocean St, Oceano, CA 93445
      View Details
    • $1,250,000

      Versatile Industrial Property with Warehouse

      Industrial property featuring warehouse and office space on 1.23 acres.
      1730 Railroad St, Oceano, CA 93445
      View Details
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    368 Pier Ave
    Oceano, CA 93445-9701
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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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