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    6917 El Camino Real Atascadero, CA 93422
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    6917 El Camino Real, Atascadero, CA 93422

    View on Map
    • Theaters & concert halls
    • 0.78 lot acres
    For Lease
    $12,965,000
    View Listing →
    Retail Space in Colony Square For Lease
    $12,965,000

    Retail Space in Colony Square

    Retail leasing opportunity in downtown Atascadero's Colony Square.

    6917 El Camino Real, Atascadero, CA 93422
    View Listing
    Property ID
    US09-3660860
    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
    $12,965,000
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Que Pasa Mexican Cafe / Restaurant
    • SloDoCo Donuts / Bakery / Discount Store
    • Galaxy Atascadero / Cinema / Theater & Performing Art Venue

    Property Details for 6917 El Camino Real

    Lot size
    0.78 lot acres
    Property type
    Theaters & concert halls
    APN
    029-361-049
    APU
    29361049

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Nov 19, 2024 $6,600,000 6917 El Camino Real Holdings LLC Cinema Square LLC Trust Deed · related —
    Nov 19, 2024 — Cinema Square LLC — Deed · related —
    Dec 31, 2015 $12,966,500 Cinema Square LLC Colony Square LLC Grant Deed $7.8M · Jefferies Loancore

    Description

    Located at 6917 El Camino Real, Atascadero, CA 93422, Colony Square offers a unique investment opportunity in a thriving California market. This Class A, single-story building, constructed in 2011, boasts a total of 48,960 square feet across eight suites. The property features a diverse tenant mix, anchored by a ten-screen cinema, and includes a variety of spaces suitable for retail, office, and restaurant uses. Currently, 6,833 square feet are available, with minimum divisible space starting at 1,112 square feet and a maximum contiguous space of 1,632 square feet. The building is situated on El Camino Real, conveniently located near Hwy 41, placing it within Atascadero's bustling retail core, benefiting from high foot traffic and proximity to national retailers, banks, and other essential amenities. The property's APN is 029361048. Atascadero's population growth over the past decade provides a robust consumer base for businesses operating within Colony Square. This is an exceptional opportunity to establish a presence in a dynamic and growing community. The property is categorized as Traditional Office, Salon, Deli, and Restaurant, with multiple tenancy options available.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $12,965,000
      ML approach
      $12,965,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Atascadero
    County
    San Luis Obispo
    State
    California
    Longitude
    -120.665
    Latitude
    35.4872
    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
    $87,386
    $860,000
    $6,796,011
    $7,656,011
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

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      View Details
    • Value Estimation
      $2,465,000
      30,829 SF

      8665 El Camino Real

      RECREATIONAL, ENTERTAINMENT
      8665 El Camino Real, Atascadero, CA 93422-5329
      View Details

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      Retail spaces available in contemporary complex, Fall 2024.
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      Retail Space with Highway Visibility

      Retail space with visibility and easy highway access for rent.
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    Atascadero, CA 93422
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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.

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