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Property profile & analytics
OFF-MARKET
Estimated value
$500,000
Medical Office Space
747 Bernardo Ave Morro Bay, CA 93442-2339
Entity Owned
9-yr Hold
~
Est. High Equity
Property ID
US09-4483477
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1972
Construction
WOOD
Total area
1,532 SF
Lot
0.16 ac (6,970 SF)
Zoning code
60
APN
066-073-025
UPID
US09-4483477
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
-
Morro Bay Family Dentistry - Sorina Ratchford DDS Dental Office
-
Dr. Sorina Ratchford Dental Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$305k
CAP Approach
CAP
$650k
Comparable Approach
Comparable
$309k
Blend (final)
Blend
$500k
Owner & transaction history
Cal Forest Properties LLC · 9 yrs held
Cal Forest Properties LLC
since 2016
3 recorded transactions
Zoning & alternative use
60 · Morro Bay, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Source
code of ordinances
Top alternative use upside
Commercial (general)
$800,000
+27.3%
Auto repair, garage
$700,000
+11.2%
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
by Request
ML approach
$305,000
CAP Approach
CAP Return
Estimation
6%
$705,000
6.5%
$650,000
7%
$605,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$630,000
Current use
COMMERCIAL (GENERAL)
$800,000
Change: +27% · Conversion: Easy
AUTO REPAIR, GARAGE
$700,000
Change: +11% · Conversion: Difficult
Blend value · Realmo final
$500k
Range $450k – $550k · ±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
$326 / 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
$6,350
Tax year 2024
Assessed value
$574,597
Assessed 2024
Previous assessed
$574,597
+0.0% YoY
Effective rate
1.11%
On assessed value
Assessed land
$295,833
Assessed improvement
$278,764
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1972
Construction
WOOD
Heating
NONE
Total area
1,532 SF
Lot
0.16 ac (6,970 SF)
Zoning code
60
APN
066-073-025
UPID
US09-4483477
Jurisdiction
SAN LUIS OBISPO
Zoning & alternative use
60 · Morro Bay, CAZoning 60 · permitted uses
60 · 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
MEDICAL BUILDING Current
Est. value
$630,000
COMMERCIAL (GENERAL)
Est. value
$800,000
AUTO REPAIR, GARAGE
Est. value
$700,000
MEDICAL BUILDING Current
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
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
1972
Construction
WOOD
Heating
NONE
Lot
0.16 ac
Current owner
From public records · entity-resolved
Cal Forest Properties LLC
Entity
Mailing address
747 BERNARDO AVE, MORRO BAY, CA 93442-2339
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 18, 2017
—
Cal Forest Properties LLC
—
Deed
related
$46,000 · Bank Of America
Oct 7, 2016
$505,000
Cal Forest Properties LLC
Fenderson A D & M L Trust
Grant Deed
$404,000 · Bank Of America
—
—
Cal Forest Properties LLC
—
Deed Of Trust
related
$46,000 · Bank Of America
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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