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Property profile & analytics
OFF-MARKET
Estimated value
$1,025,000
Sports & entertainment properties
464 Morro Bay Blvd Morro Bay, CA 93442-2144
Entity Owned
2-yr Hold
Absentee Owner
Free & Clear
Property ID
US09-1361026
Property profile
Verified
Property type
Sports & entertainment properties
Use group
RECREATIONAL, ENTERTAINMENT
Year built
1940
Construction
WOOD
Total area
7,404 SF
Lot
0.2 ac (8,760 SF)
Zoning code
C1
APN
066-121-013
UPID
US09-1361026
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
-
Bay Theater Cinema Theater & Performing Art Venue
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.06M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.04M
Blend (final)
Blend
$1.03M
Owner & transaction history
The Morro Bay Theatre LLC · 2 yrs held
The Morro Bay Theatre LLC
since 2023
Last sale
$1.0M
4 recorded transactions
Zoning & alternative use
C1 · Morro Bay, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Source
code of ordinances
Top alternative use upside
Retail stores
$1.6M
+3.3%
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 Morro Bay submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Morro Bay 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
$1,120,000
ML approach
$1,055,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RECREATIONAL/ENTERTAINMENT (GENERAL)
$1,530,000
Current use
RETAIL STORES
$1,580,000
Change: +3% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,400,000
Change: -8% · Conversion: Difficult
MEDICAL BUILDING
$1,265,000
Change: -17% · Conversion: Difficult
Blend value · Realmo final
$1.03M
Range $923k – $1.13M · ±10% · vs last sale $1.00M (Oct 30 2023)
Last sale anchor
$1.00M
Oct 30 2023
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
$138 / 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
$13,262
Tax year 2024
Assessed value
$1,200,000
Assessed 2024
Previous assessed
$1,200,000
+0.0% YoY
Effective rate
1.11%
On assessed value
Assessed land
$500,000
Assessed improvement
$700,000
Applied tax rate
6.0000
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
Sports & entertainment properties
Use group
RECREATIONAL, ENTERTAINMENT
Status
Off-Market
Year built
1940
Construction
WOOD
Heating
NONE
Total area
7,404 SF
Lot
0.2 ac (8,760 SF)
Zoning code
C1
APN
066-121-013
UPID
US09-1361026
Jurisdiction
SAN LUIS OBISPO
Zoning & alternative use
C1 · Morro Bay, CAZoning C1 · permitted uses
C1 · Morro Bay, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Source
code of ordinances
Alternative use value scenarios
Repositioning upside vs current use
RECREATIONAL/ENTERTAINMENT (GENERAL) Current
Est. value
$1.5M
RETAIL STORES
Est. value
$1.6M
AUTO REPAIR, GARAGE
Est. value
$1.4M
MEDICAL BUILDING
Est. value
$1.3M
RECREATIONAL/ENTERTAINMENT (GENERAL) Current
RETAIL STORES
AUTO REPAIR, GARAGE
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
1940
Construction
WOOD
Heating
NONE
Lot
0.2 ac
Current owner
From public records · entity-resolved
The Morro Bay Theatre LLC
Entity
Free & Clear · 2 yrs held
Mailing address
9411 ALTO DR, LA MESA, CA 91941-4226
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 30, 2023
—
The Morro Bay Theatre LLC
Scott Alan Wilson
Intrafamily Transfer
related
—
Oct 26, 2023
$1,000,000
Scott Alan Wilson
Mary Lou Jannopoulos
Grant Deed
—
Apr 7, 1999
—
Jannopoulos Trust
Jannopoulos,mary L
Quit Claim Deed
related
—
—
—
Jame Jannopoulos
—
Deed Of Trust
related
$160,000 · First Bank San Luis Obispo
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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