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    Property profile & analytics

    3991 S Higuera St San Luis Obispo, CA 93401

    • Super regional malls
    • 4,500 SF
    • 0.42 lot acres
    For Lease
    View listing
    Last Sale
    Oct 31, 2023
    $2,300,000
    Value Estimations
    $2,325,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-1994297
    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

    • U.S. Bank Branch / Bank
    • U.S. Bank ATM - San Luis Obispo / Bank / Atm

    Property Details for 3991 S Higuera St

    Year built
    2004
    Construction
    TILT-UP CONCRETE
    Lot size
    0.42 lot acres
    Property size
    4,500 SF
    Zone code
    CC
    Property type
    Super regional malls
    APN
    053-257-001
    APU
    53257001

    Description

    This exceptional Class A retail property, located at 3991 S Higuera St, San Luis Obispo, CA 93401, offers a prominent corner location within a two-grocery anchored shopping center. Boasting excellent visibility from Higuera Street, a major thoroughfare leading to and from downtown San Luis Obispo, this freestanding building provides unparalleled access to a high volume of traffic. The 4,500 square foot building, constructed in 2004, is currently divided into two separate spaces: approximately 2,800 square feet and 1,700 square feet. Each space includes its own set of ADA-compliant restrooms, offering convenience and accessibility for tenants and customers. The property is highly versatile, allowing for either individual occupancy of the existing spaces or a combined lease of the entire 4,500 square feet. Previously occupied by a bank, this space presents a unique opportunity for a variety of retail businesses seeking a high-profile location in a thriving San Luis Obispo County market. The minimum leasable space is 1,700 square feet, making it ideal for businesses of various sizes. This property is situated in a well-established shopping center, ensuring high foot traffic and strong visibility. The cross street is Suburban St, further enhancing its accessibility and prominence.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $3,040,000
      ML approach
      $3,000,000

    • Alternative Use

      Use
      Estimation
      AUTO REPAIR, GARAGE
      $1,640,000

    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
    -120.675
    Latitude
    35.2443
    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
    $25,418
    $1,300,000
    $1,000,000
    $2,300,000
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $2,090,000
      70,386 SF

      3220 Higuera St Ste, Unit 101

      SHOPPING CENTER, STRIP CENTER • 70,386 SF
      3220 Higuera St Ste, San Luis Obispo, CA 93401-6983
      View Details
    • Value Estimation
      $695,000
      8,050 SF

      3232 Higuera St

      SHOPPING CENTER, STRIP CENTER • 8,050 SF
      3232 Higuera St, San Luis Obispo, CA 93401-2015
      View Details
    • Value Estimation by Request
      5,697 SF

      3220 Broad St

      SHOPPING CENTER, STRIP CENTER • 5,697 SF
      3220 Broad St, San Luis Obispo, CA 93401-6773
      View Details
    • Value Estimation
      $2,245,000
      14,038 SF

      1245 Laurel Ln

      SHOPPING CENTER, STRIP CENTER • 14,038 SF
      1245 Laurel Ln, San Luis Obispo, CA 93401
      View Details
    • Value Estimation by Request
      6,816 SF

      3230 Broad St

      SHOPPING CENTER, STRIP CENTER • 6,816 SF
      3230 Broad St, San Luis Obispo, CA 93401-4728
      View Details
    • Value Estimation
      $695,000
      3,387 SF

      110 Tank Farm Rd

      SHOPPING CENTER, STRIP CENTER • 3,387 SF
      110 Tank Farm Rd, San Luis Obispo, CA 93401-7718
      View Details

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    Similar Nearby for Lease

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      Retail Space in San Luis Obispo

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      View Details
    • Contact for pricing

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      Retail space with high visibility and ample parking.
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      View Details
    • Contact for pricing
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      Retail Space in San Luis Obispo

      Grocery-anchored retail center with high traffic and daytime population.
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      View Details
    • Contact for pricing
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      Retail Space in San Luis Obispo

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      Retail Space in Higuera Plaza

      Retail space available in a busy San Luis Obispo plaza.
      3991 S Higuera St, San Luis Obispo, CA 93401
      View Details
    • Contact for pricing
      1,084 SF

      Retail Space in Marigold Center

      Retail space available in a busy San Luis Obispo shopping center.
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      View Details
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    San Luis Obispo, CA 93401
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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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