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Property profile & analytics
OFF-MARKET
Estimated value
$1,800,000
Retail space
495 Morro Bay Blvd, Morro Bay, CA 93442-2143
Entity Owned
2-yr Hold
Absentee Owner
Free & Clear
Property ID
US09-1452888
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1977
Construction
TILT-UP CONCRETE
Total area
3,914 SF
Lot
0.1 ac (4,356 SF)
Zoning code
C1
APN
066-064-021
UPID
US09-1452888
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
-
OnTrac Drop Box Logistics Company Freight Service
-
ChargePoint Charging Station Electric Vehicle Charging Station
-
Natural Healing Center Morro Bay Cannabis Dispensary (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.80M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.18M
Blend (final)
Blend
$1.80M
Owner & transaction history
Morro Bay Cafe LLC · 2 yrs held
Morro Bay Cafe LLC
since 2024
Last sale
$1.8M
5 recorded transactions
Zoning & alternative use
C1 · Morro Bay, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$2.8M
+117.4%
Commercial (general)
$2.0M
+61.3%
Auto repair, garage
$1.8M
+41.0%
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
$1,800,000
ML approach
$1,800,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$1,270,000
Current use
OFFICE BUILDING
$2,760,000
Change: +117% · Conversion: Easy
COMMERCIAL (GENERAL)
$2,045,000
Change: +61% · Conversion: Easy
AUTO REPAIR, GARAGE
$1,790,000
Change: +41% · Conversion: Difficult
MEDICAL BUILDING
$1,610,000
Change: +27% · Conversion: Difficult
Blend value · Realmo final
$1.80M
Range $1.62M – $1.98M · ±10% · vs last sale $1.80M (Feb 20 2024)
Last sale anchor
$1.80M
Feb 20 2024
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
$460 / 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
$9,669
Tax year 2024
Assessed value
$874,912
Assessed 2024
Previous assessed
$874,912
+0.0% YoY
Effective rate
1.11%
On assessed value
Assessed land
$404,647
Assessed improvement
$470,265
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1977
Construction
TILT-UP CONCRETE
Heating
NONE
Total area
3,914 SF
Lot
0.1 ac (4,356 SF)
Zoning code
C1
APN
066-064-021
UPID
US09-1452888
Jurisdiction
SAN LUIS OBISPO
Zoning & alternative use
C1 · Morro Bay, CA
Zoning 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
Morro Bay. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$1.3M
OFFICE BUILDING
Est. value
$2.8M
COMMERCIAL (GENERAL)
Est. value
$2.0M
AUTO REPAIR, GARAGE
Est. value
$1.8M
MEDICAL BUILDING
Est. value
$1.6M
RETAIL STORES Current
OFFICE BUILDING
COMMERCIAL (GENERAL)
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
1977
Construction
TILT-UP CONCRETE
Heating
NONE
Lot
0.1 ac
Current owner
From public records · entity-resolved
Morro Bay Cafe LLC
Entity
Free & Clear · 2 yrs held
Mailing address
2375 E TROPICANA AVE STE #8, LAS VEGAS, NV 89119-8329
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 20, 2024
$1,800,000
Morro Bay Cafe LLC
Main At Morro LLC
Grant Deed
—
Dec 9, 2020
—
Main At Morro LLC
—
Deed
related
$500,000 · Fallbrook Mortgage Fund LLC
Mar 15, 2019
$800,000
Main At Morro LLC
Mcconaghay Family Trust
Grant Deed
—
Mar 15, 2019
—
Mcconaghay Family Trust
Mcconaghay,robert E & Marjorie E
Affidavit Of Death
related
—
Mar 2, 1998
—
Mcconaghay Trust
Mcconaghay,robert E & Marjorie E
Quit Claim Deed
related
—
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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