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    645 Tank Farm Rd San Luis Obispo, CA 93401-7060
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    Property profile & analytics

    645 Tank Farm Rd, San Luis Obispo, CA 93401-7060

    View on Map
    • Warehouses
    • 81,615 SF
    • 5.01 lot acres
    Off-Market
    Last Sale Apr 24, 2020
    $12,000,000
    Property ID
    US09-2710493
    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.
    Value Estimations
    $12,345,000
    Show details
    Cap Rate Potential
    5.2%
    Warehouses
    Location Intelligence

    Current Use by Public Records

    • Slo Sail and Canvas / Textile Manufacturer
    • ALAMO SELF STORAGE / Storage Facility
    • Spectrum Color Images / (Bike/Boat/Book/etc) Store / Printing Service
    • ACME AUTOBODY / Auto Repair Shop
    • Lezyne / Industrial Manufacturer / Production Facility

    Property Details for 645 Tank Farm Rd

    Year built
    1971
    Construction
    TILT-UP CONCRETE
    Lot size
    5.01 lot acres
    Zone code
    CS
    Property type
    Warehouses
    Property subtype
    Self storage facilities
    APN
    053-422-004
    APU
    53422004

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Mar 12, 2026 — Self Storage At Lake Elsinore LLC — Deed · related $8.4M · Montecito Bank & Trust
    Mar 9, 2021 — Self Storage Of Lake Elsinore LLC — Deed · related $8.5M · Alliant Cu
    Jun 19, 2020 $8,400,000 Self Storage At Lk Elsinore Ll Slo Storage Correction Deed —
    Apr 24, 2020 — Lawrence P Harter Harter G & R 1997 Trust Quit Claim Deed · related —
    Apr 24, 2020 $8,400,000 Self Storage At Lk Elsinore Ll Slo Storage Grant Deed $8M · San Luis Storage Ltd
    Oct 7, 2015 — Slo Storage Slo Storage Quit Claim Deed · related —
    — — Slo Storage — Deed Of Trust · related $2.4M · Rabobank
    — — Slo Storage — Deed Of Trust · related $100k · Portzel Family Trust (pt)

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $16,245,000
      ML approach
      $12,480,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $13,965,000
      6.5%
      $12,890,000
      7%
      $11,970,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $14,604,000
      Market price range: $10.6M - $23.2M

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $15,605,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    San Luis Obispo
    County
    San Luis Obispo
    State
    California
    Longitude
    -120.646
    Latitude
    35.2459
    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
    $118,494
    $3,216,605
    $7,505,413
    $10,722,018
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $6,065,000
      40,200 SF

      3600 Higuera St

      MINI-WAREHOUSE, STORAGE
      3600 Higuera St, San Luis Obispo, CA 93401-7306
      View Details
    • Value Estimation by Request
      950 SF

      2900 Mcmillan Ave

      MINI-WAREHOUSE, STORAGE
      2900 Mcmillan Ave, San Luis Obispo, CA 93401-6728
      View Details
    • Value Estimation
      $3,040,000
      19,875 SF

      Suburban Rd

      MINI-WAREHOUSE, STORAGE
      Suburban Rd, San Luis Obispo, CA 93401
      View Details
    • Value Estimation by Request
      1,368 SF

      3602 Broad St

      MINI-WAREHOUSE, STORAGE
      3602 Broad St, San Luis Obispo, CA 93401
      View Details
    • Value Estimation by Request
      860 SF

      901 Buckley Rd

      MINI-WAREHOUSE, STORAGE
      901 Buckley Rd, San Luis Obispo, CA 93401-8219
      View Details
    • Value Estimation
      $510,000
      2,532 SF

      3045 Duncan Rd

      MINI-WAREHOUSE, STORAGE
      3045 Duncan Rd, San Luis Obispo, CA 93401-6746
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      34,427 SF

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      855 Aerovista Pl, San Luis Obispo, CA 93401
      View Details
    • Contact for pricing

      San Luis Obispo Industrial Lot

      Industrial land for sale in San Luis Obispo, CA.
      4125 Earthwood Ln, San Luis Obispo, CA 93401
      View Details
    • Contact for pricing

      Land For Sale

      Land available between Santa Rosa Street and Chorro Street.
      879 Walnut St, San Luis Obispo, CA 93401
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      San Luis Obispo Flex Space

      8,600 SF flex space with fenced yard near Highway 101.
      183 Prado Rd, San Luis Obispo, CA 93401
      View Details
    • Contact for pricing
      10,674 SF

      San Luis Obispo Warehouse Space

      Industrial warehouse space available for lease in San Luis Obispo.
      254 Granada Dr, San Luis Obispo, CA 93401
      View Details
    • Contact for pricing

      Warehouse Unit on Prado Road

      End cap warehouse unit with office and roll-up door.
      1-265 Prado Rd, San Luis Obispo, CA 93401
      View Details
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    645 Tank Farm Rd
    San Luis Obispo, CA 93401-7060
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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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