Back to Search
Property profile & analytics
FOR LEASE
Office buildings
406 Higuera St San Luis Obispo, CA 93401
Individually Owned
20-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US10-3107782
For Lease
1 / 10
$5,380,000
406 Higuera St, San Luis Obispo, CA 93401
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
PROFESSIONAL BUILDING
Year built
1984
Construction
WOOD
Total area
19,935 SF
Lot
2.21 ac (96,267 SF)
Zoning code
CR
APN
002-511-031
UPID
US10-3107782
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
Current use
Occupant on record · Public records
-
Lindamood-Bell San Luis Obispo Learning Center Training Center Tutoring Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$6.09M
Comparable Approach
Comparable
$5.07M
Blend (final)
Blend
$5.38M
Owner & transaction history
Luis Obispo Promontory-san · 20 yrs held
Luis Obispo Promontory-san
since 2006
6 recorded transactions
Zoning & alternative use
CR · San Luis Obispo, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$6,595,000
6.5%
$6,090,000
7%
$5,655,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$8,505,000
Change: -6% · Conversion: Easy
Blend value · Realmo final
$5.38M
Range $4.84M – $5.92M · ±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
$270 / 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
$77,208
Tax year 2024
Assessed value
$6,986,223
Assessed 2024
Previous assessed
$6,986,223
+0.0% YoY
Effective rate
1.11%
On assessed value
Assessed land
$1,820,065
Assessed improvement
$5,166,158
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
Office buildings
Use group
PROFESSIONAL BUILDING
Status
For Lease
Year built
1984
Construction
WOOD
Heating
NONE
Buildings
2
Total area
19,935 SF
Lot
2.21 ac (96,267 SF)
Zoning code
CR
APN
002-511-031
UPID
US10-3107782
Jurisdiction
SAN LUIS OBISPO
Zoning & alternative use
CR · San Luis Obispo, CA
Zoning CR · permitted uses
CR · San Luis Obispo, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
San Luis Obispo. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING
Est. value
$8.5M
MEDICAL BUILDING
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
1984
Construction
WOOD
Heating
NONE
Buildings
2
Lot
2.21 ac
Current owner
From public records · entity-resolved
Luis Obispo Promontory-san
Individual
Mailing address
750 PISMO ST, SAN LUIS OBISPO, CA 93401-3922
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2006
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 27, 2022
—
Promontory San Luis Obispo LP
—
Deed
related
$5,000,000 · Bank Of The Sierra
Feb 7, 2006
—
Luis Obispo Promontory-san
Rossi Robin L Trust
Grant Deed
—
Feb 3, 2006
—
Slo Promontory LLC
Atkinson Family Trust
Grant Deed
$2,000,000 · Christopher Clemens
Jan 5, 2006
—
Rossie Robin L Trust
Promontory
Grant Deed
—
Feb 28, 2001
—
Promontory Gp
—
Deed Of Trust
related
$6,500,000 · Wells Fargo Bank
—
—
Luis Obispo Promontory-san
—
Deed Of Trust
related
$8,800,000 · Key Bank NA
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
